OUTDATED TECH THE REASON FOR RETURN FIASCO

Outdated tech the reason for return fiasco. Over the last decade, prior to the Biden Administration’s plan to update the IRS workforce and technology, the IRS had the oldest computer system in the entire U.S. Government. When 30 million information returns were “dumped” inadvertently, the finger pointing began. A statement by the IRS said “Broadly, […]

SUPREME COURT HOLDS TAX COURT NOT HELD

Supreme Court holds tax court not held. The 30 day limit of Sec. 6330(d) for taxpayers to file a petition with the Tax Court to review an IRS determination is nonjurisdictional, the U.S. Supreme Court held, meaning it can be extended in certain instances. The Court’s unanimous opinion, written by Justice Any Coney Barrett, was […]

WHY SOME TAX REFUNDS TAKE LONGER

Why some tax refunds take longer. Even though the IRS issues most tax refunds in less than 21 days for taxpayers who filed electronically and chose direct deposit, some refunds may take longer. Many different factors can affect the timing of a refund after the IRS receives a return. A manual review may be necessary […]

WHERE IS MY REFUND GUIDE

Where is my refund guide. The easy way to see if your refund is on the way, is to check the Where’s My Refund tool at the IRS website, IRS.GOV Those who might not file a tax return will want to this as that will enable them to get the child tax credits passed into […]

IRS TAXPAYER ASSISTANCE CENTERS OPEN

IRS taxpayer assistance centers open. Years ago the IRS had a program, that started in just a few cities but was such a success that it went to dozens more, in an effort to give taxpayers with difficult situations a chance to get the IRS problem fixed in one weekend. It appears that the IRS […]

REPUBLICANS TRYING TO REBRAND

Republicans trying to rebrand. For years the Republican party has been viewed through the prism of the party of Wall Street and the wealthy. Championing tax cuts, defense spending, and cutting Social Safety net programs. Then cam Trump and his promise to help rebuild the working class. After giving 90% of the tax cuts in […]

AGGRESSIVE IRS AFTER TAXPAYERS

Aggressive IRS after taxpayers. After years of being under funded by Congress, and with mounting federal budget deficits, Congress, spurred on by the Biden Administration, has finally beefed up funding at the IRS to levels not seen in several decades. What that means for taxpayers is that the IRS will be conducting more audits, not […]

STATES WANT MONEY FOR TAX CUTS

States want money for tax cuts. The Republican attorney general of 21 states recently called one aspect of the new coronavirus recovery bill “an unprecedented and unconstitutional intrusion on the separate sovereignty of the States through federal usurpation.” In fact, they said it was “the greatest attempted invasion of state sovereignty by Congress in the […]

IS VIRUS AID MONEY TAXABLE ?

Is virus aid money taxable ?  We have received many calls from both taxpayers and clients regarding the ongoing virus tax relief money and paycheck protection program. Many of the questions pertain to whether the money is taxable, the implications for filing tax returns, or the IRS tax resolution they are working on.  In an […]

YEAR END BILL HAS TAX PROVISIONS

Year end bill has tax provisions. The federal government spending bill passed by Congress repeals three health care taxes that were originally enacted as part of 2010 health care reform legislation, makes many changes to retirement plan rules, extends several expired tax provisions, provides disaster relief, and repeals the provision that taxed exempt organizations when […]