IRS Seeks to Return $153 Million in Undelivered Checks to Taxpayers; Recommends e-file, Direct Deposit to Avoid Future Delivery Problems WASHINGTON — In an annual reminder to taxpayers, the Internal Revenue Service announced today that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks […]
Today TaxMama hears from Geoff in the TaxQuips Forum who is frustrated. To make a long story short (you can read the long story here), Geoff didn’t file his tax return on time because he couldn’t afford to pay for the preparation fees. When he filed, more than three years later, IRS denied […]
NOTE: This opportunity has expired. See the comment after this post. Or… Today TaxMama wants to alert you to a potential summer refund available to you. This is important news for frequent travelers! This could be worth a lot of money to you.
Today TaxMama hears from Chan in the TaxQuips Forum, who is catching up. “IRS and VA state (I live in Virginia) have already taken more money from my bank and brokerage accounts than I actually owe them. Would I be getting back the amount that they levied in excess of what I actually owe? (I […]
Courtesy of IRS Now that the federal income tax filing deadline is in your rear-view mirror, what happens after you file? A lot of taxpayers have post tax-filing questions such as what records do I keep and more importantly, “Where’s my Refund?” The IRS has answers for you below.
Today TaxMama hears from Jelani, in the TaxQuips Forum with a problem. “I have a hold on my 2010 tax refund. The IRS says that in 2007, 2008, 2009 I paid enough mortgage interest to file taxes on, but I haven’t filed since 2005. The mortgage payments that I made were made using the equity of the […]
Courtesy of IRS If you file a joint return and all or part of your refund is applied against your spouses’ past-due federal tax, state income tax, child or spousal support or federal nontax debt, such as a student loan, you may be entitled to injured spouse relief. Here are seven facts the IRS wants […]
Video: How to Request a Copy Your Tax Return: English IRS Has $1.1 Billion for People Who Have Not Filed a 2007 Income Tax Return WASHINGTON — Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007, the Internal Revenue […]
Today TaxMama hears from Somsak in the TaxQuips Forum, who is hurting, badly. “In 2005 I signed a contract to purchase 2 units in a pre-construction CondoTel in Orlando, Florida. I submitted a 20% down payment of $211,960. In 2008 the project was completed, but only 47 out of 260 investors could close the escrows. The rest couldn’t […]
Today TaxMama hears from Monty in the TaxQuips Forum, who needs help. Let me paraphrase his question. “When a corporation has net operating losses (NOL) for two years in a row, 2008 and 2009, how do you handle carrying back the NOLs?” Dear Monty, When you have a large net operating loss, you may be […]
This morning TaxMama received a press release from Harry W. Buckley, president and chief executive officer of Jackson Hewitt Tax Service Inc. in response to IRS’s announcement yesterday about removing the debt indicator from the electronically filed tax returns at the time of filing.