Category Archives: IRS News

What Employers Need to Know About Claiming the Small Business Health Care Tax Credit

If you are a small employer with fewer than 25 full-time equivalent employees that earn an average wage of less than $50,000 a year and you pay at least half of employee health insurance premiums…then there is a tax credit that may put money in your pocket. The Small Business Health Care Tax Credit is […]

IRS Offers New Penalty Relief and Expanded Installment Agreements

Courtesy of the IRS IRS Offers New Penalty Relief and Expanded Installment Agreements to Taxpayers under Expanded Fresh Start Initiative WASHINGTON — The Internal Revenue Service today announced a major expansion of its “Fresh Start” initiative to help struggling taxpayers by taking steps to provide new penalty relief to the unemployed and making Installment Agreements available […]

Free Tax Help for Military Personnel and Their Families

Free tax return preparation assistance is available for eligible military members and their spouses. The IRS and U.S. Armed Forces participate in the Volunteer Income Tax Assistance program, which provides free tax advice, tax preparation, return filing and other tax assistance to military members and their families. Here are five things you need to know […]

IRS Has $1 Billion for People Who Have Not Filed a 2008 Income Tax Return

IRS YouTube Videos: Haven’t Filed a Tax Return in Years?:English | Spanish | ASL IR-2012-26, Feb. 23, 2012 WASHINGTON — Refunds totaling more than $1 billion may be waiting for one million people who did not file a federal income tax return for 2008, the Internal Revenue Service announced today. However, to collect the money, […]

Californians! Hold Schedule C Returns

 Hold Schedule C returns (02-23-2012) The FTB has changed Schedule CA to reduce the amount of self-employment tax deductible for California purposes. According to the FTB, taxpayers may only deduct 50% of the self-employment tax for California purposes, while they can deduct more than 50% for federal purposes. If the FTB is correct, there will […]

Dirty Dozen Tax Scams

The Internal Revenue Service has issued its annual “Dirty Dozen” tax scams list, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers […]