Tag Archives: Tax preparation

Top 10 Tax Time Tips

It’s that time of the year again. The income tax filing season has begun and important tax documents should be arriving in the mail. Even though your return is not due until April, getting an early start will make filing easier. Here are the Internal Revenue Service’s top 10 tips that will help your tax […]

Getting Free Tax Help

Today TaxMama wants to talk to you about ways to get help when you are in tax trouble, as a result f a desperate plea from a fellow named Jon.

The End of RALs

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.

IRS Removes Debt Indicator for 2011 Tax Filing Season

WASHINGTON — The Internal Revenue Service today announced that starting with next year’s tax filing season it will no longer provide tax preparers and associated financial institutions with the “debt indicator,” which is used to facilitate refund anticipation loans (RALs). [TaxMama note: please see the related story.]

Why Your Business Needs A Tax Pro, Part 2

So, How Do I Know They Know Their Stuff? Simple: Ask questions. Ah, but what questions? The truth is that you need to begin the process by determining which colors in the financial spectrum are relevant to your enterprise. Doing your homework before you contact a tax professional–and being specific about the areas in which […]

Short Term Installment Agreement

Today TaxMama hears from Joe in the TaxQuips Forum with lots of questions. Edited down he’s asking: “Is it true that you cannot efile prior year returns? I need to file for this year and last year. I expect to owe money for each year, but don’t need a long-term installment agreement. What form shall […]

Taxpayer Protection

Today TaxMama wants to tell you about something really important and exciting. IRS’s first announcement of the year made a big splash. IRS proposes new registration, testing and continuing education of tax return preparers. What does this mean to you? And why is this exciting?

IRS Grants Minnesota, North Dakota Flood Victims until May 15 To File Tax Returns, Make Payments

IR-2009-32, April 2, 2009 WASHINGTON —Victims of severe flooding in Minnesota and North Dakota have an extra 30 days, until May 15, to file their 2008 individual tax returns and pay any taxes due, the Internal Revenue Service announced today. Because the flooding has occurred within close proximity to April 15 –– the nation’s tax […]

Free File Alliance Kicks Off

Free File Alliance Kicks Off 7th Year of Free Tax Preparation Services for 70 Percent of Americans More than 98 Million Taxpayers Making $56,000 or Less are Eligible for Free Tax Assistance and E-Filing Through www.IRS.gov WASHINGTON, DC (January 16, 2009) – The Free File Alliance (www.freefilealliance.org), a coalition of 19 private tax software companies […]

IRS Seeks Fraud in EITC

EITC Due Diligence Compliance Program IRS is taking a multi-prong approach to reduce the number of erroneous EITC claims. The agency estimates that 23 to 28 percent of EITC claims filed for tax year 2007 were erroneous and resulted in overpayments of $11 billion to $13 billion. IRS adopted the EITC Paid Preparer Compliance Program […]