IR-2009-49, May 6, 2009 WASHINGTON — The Internal Revenue Service today reminded many small tax-exempt organizations to file their annual electronic informational return with the IRS by the May 15 deadline. This is the second year of the new requirement for tax-exempt organizations whose gross annual receipts are normally ,000 or less to file Form […]
Category Archives: IRS News
Courtesy of IRS – IRS Tax Tip 2009-73 Most taxpayers have already filed their federal tax returns but may still have questions. Here’s what you need to know about refund status, recordkeeping, mistakes and what to do if you move. Refund Information You can go online to check the status of your 2008 refund 72 […]
To listen to this presentation, please use the link in the Resource Box below. Transcript of presentation: Hello. I’m Jean Wetzler, with a reenactment of a March 2009 IRS National Phone Forum on the “Tax Consequences of Canceled Debt”.https://www.fiercereads.com/wp-content/languages/new/executive-resume-writing-service.html The presenter for the phone forum was Anne Freeman, chief of the Individual Review section of […]
IRC §280F (listed property) provides ceilings on the amount of depreciation and §179 that can be claimed on passenger automobiles, light duty trucks and vans. The limitations listed below are multiplied by the taxpayer’s business use of the vehicle. The amounts for passenger automobiles placed in service in 2009 differ slightly from the amounts for […]
Courtesy of NAEA – National Association of Enrolled Agents President Barack Obama and his wife, Michelle, on Wednesday released their MFJ tax return. The first couple reported about $2.7 million in income for 2008, mainly from book sales. President and Mrs. Obama paid about $855,000 in federal income taxes. In a release, the first family […]
IR-2009-41, April 13, 2009 WASHINGTON — The Internal Revenue Service today issued its 2009 “dirty dozen” list of tax scams, including schemes involving phishing, hiding income offshore and false claims for refunds. “Taxpayers should be wary of scams to avoid paying taxes that seem too good to be true, especially during these challenging economic times,” […]
The updated IRS Construction Tax Center is a one-stop resource for tax information aimed specifically at the construction industry.https://www.parkviewortho.com/wp-content/languages/new/clomiphene.html https://www.irs.gov/businesses/small/industries/article/0,,id=185182,00.html Our Industries/Professions site has information about many other areas of business. https://www.irs.gov/businesses/small/industries/index.html Have you visited SBTV – www.sbtv.com ? Coming up: Income from online auctions and an interview with the National Taxpayer Advocate are featured […]
As part of the American Recovery and Reinvestment Act, small businesses with a net operating loss in 2008 may elect to offset this loss against income earned in up to five prior years instead of two. The deadline to make the election to use this special carryback is April 17, 2009. See links in the […]
IR-2009-37, April 7, 2009 WASHINGTON — Credit or debit card convenience fees charged for paying federal individual income taxes electronically are deductible for some taxpayers who itemize, the Internal Revenue Service announced today. Federal law bars the IRS from paying any fees associated with these credit or debit transactions. Card processors normally charge taxpayers for […]
The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of qualified vehicles from February 17th, 2009 through the end of the year. The deduction does not require a taxpayer to itemize and is means tested (phases out for single filers with […]
IR-2009-33, April 3, 2009 WASHINGTON — The Internal Revenue Service today issued guidance on the new Build America Bond program. This program allows state and local governments to issue taxable bonds for capital projects and to receive a new direct federal subsidy payment from the Treasury Department for a portion of their borrowing costs. The […]
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 […]