IRS Feed

Image courtesy Natural Disasters by Nina Bort via SlideShare Thanksgiving week 2019 is a difficult time for many on both sides of the United States. Hurricanes this summer devastated lives and property in parts of the South and Eastern Seaboard. This fall Californians are dealing with deadly wildfires. Those of us who can help our less fortunate neighbors have many options, from the usual national charities that hit the ground in disaster areas to regionally specific nonprofits. The Internal Revenue Service is helping in its way, too. Hurricane Florence help in more of Virginia: This month, the IRS extended its... Read more →


Welcome to Part 5 of the ol' blog's 2019 series on tax inflation adjustments. Today we look at changes to some medical tax provisions. You can find links to all 2019 inflation posts in the series' first item: income tax brackets and rates. Note: The 2019 figures apply to 2019 returns that are due in April 2020. For comparison purposes, you'll also find 2018 amounts to be used in filing this year's 2018 tax return due April 15, 2019. Why yes, I am milking this medical situation for all it's worth, both personally (the hubby is such a great nurse!)... Read more →


Welcome to Part 2 of the ol' blog's 2019 series on tax inflation adjustments. We started on Nov. 15 with a look at next year's income tax brackets and rates. Today we look at standard and itemized deductions, personal exemptions and limitations on these tax situations that apply to some taxpayers. Note: The 2019 figures apply to 2019 returns to be filed in 2020. For comparison purposes, you'll also find 2018 amounts to be used in filing 2018 returns due April 15, 2019. Internal Revenue Service data show that year after year, around 70 percent of filers claim the standard... Read more →


This is the first in a 10-part series on the upcoming 2019 tax year inflation adjustments. Links to additional tax-related inflation changes for next tax year are at this end of this article. It's the most wonderful time of the year. And while, confession time, I have been watching a lot of Hallmark holiday movies, I'm talking today about the overlap of one tax year and the approaching one. As the annual count of days winds down, we taxpayers must pay attention to ways to cut our current tax year's bill as well as make some initial plans to keep... Read more →


The Internal Revenue Service's crime fighting division did a bang-up job last fiscal year, stopping almost $10 billion in tax fraud. That 2018 amount was four times more than the previous fiscal year, according to the IRS Criminal Investigation (CI) Division’s annual report released today. CI, which marked its 100-year anniversary at the Oct. 1 start of the 2019 fiscal year, identified $9.7 billion in tax fraud during the last fiscal year (Oct. 1, 2017, through Sept. 30, 2018). That's up dramatically from the $2.5 billion CI found in fiscal 2017. Much crime, but tax fraud focus: General tax fraud... Read more →


Like helping people? You can extend your volunteer penchant beyond the holidays and into the coming tax season by becoming a volunteer with an Internal Revenue Service-approved free tax help site. Don't worry. You'll get, like the folks pictured here, the tax training needed to help others fulfill their tax tasks. (Screenshot from IRS video) The holidays are here. Yeah, I'm not ready either, but … In this season of giving, many folks donate to charities. This year, much of the focus in on helping nonprofits that assist folks who've suffered through natural disasters, notably the deadly wildfires still burning... Read more →


Since I'm still recovering from my medical procedure last week, I'm following doctor's orders and taking it as easy as possible. Translation: More milkshakes! But I'm nothing if not a slightly obsessive-compulsive creature of habit. So I did want to get a Saturday Shout Out piece up today. Solution: I'm combining both medical directions and blogging impulses and recommending related tax reading today. Specifically, I'm going to the source, the Internal Revenue Service, for its comprehensive list of tax-deductible medical items and procedures. That is, of course, IRS Publication 502. IRS' medical deductions codex: The IRS hasn't updated Pub. 502... Read more →


The 2018 tax season is not quite over for some folks. But if you're an extra-late filer and want to submit your 1040 electronically, you must do so by Nov. 17. After that date, you'll have to complete your 2017 tax year filing on paper returns. Must-do maintenance: The Internal Revenue Service didn't select the Nov. 17 e-file drop-dead due date randomly. The agency says it needs to shut down its IRS Modernized e-file system that processes electronically-filed individual returns after next weekend so that it has enough time to perform annual maintenance. The IRS also has to reprogram the... Read more →


This photo via Donald J. Trump's Twitter account is the closest we've gotten to seeing his tax returns. That could change, though, now that the House flipped to Democratic control in the midterm election. Even before it was official that Democrats had wrested House control from the GOP in yesterday's midterm elections, Donald J. Trump's taxes were once again a target. Votes were still being counted and, on the West Coast cast, when some on the House tax-writing committee announced that the when leadership is transferred to them in January 2019, they will officially request to see Donald J. Trump's... Read more →


"The Persistence of Memory" by Salvador Dalí (Oil on canvas, 1931) © Salvador Dalí, Gala-Salvador Dalí Foundation/Artists Rights Society (ARS), New York. Photograph taken in 2004. (Image from About.com, fair use, via Wikipedia) It's that time of year again, literally. At 2 a.m. today (Sunday, Nov. 4, 2018), most of us said goodbye to Daylight Saving Time and hello to the return of Standard Time. OK, maybe most of us weren't up in the wee hours to actually say goodbye and hello to our clocks. But we're dealing now with the timepiece trickery. A lot of us (me!) will suffer... Read more →


Canadian taxpayers have been victims of a telephone tax scam in which identity thieves purport to be from the Canada Revenue Agency. Tax and law enforcement authorities hope recent arrests at Indian call centers will at least slow the scam. (Screenshot from the joint The National/CBC Marketplace report. Click image to watch full video.) Despite some recent diplomatic and trade strains in the United States' relationship with Canada, the two countries share a lot of things, including tax scams. The most pervasive tax scam in America is telephone calls made by crooks pretending to be Internal Revenue Service agents. The... Read more →


Updated Nov. 15, 2018 Welcome to Part 3 of the ol' blog's 2019 series on tax inflation adjustments. We started on Nov. 15 with a look at next year's income tax brackets and rates. Today we look at allowable annual retirement plan contributions amounts and, for some taxpayers, tax deduction options and limitations. Note: The 2019 figures apply to 2019 returns to be filed in 2020. For comparison purposes, you'll also find 2018 amounts to be used in filing 2018 returns due April 15, 2019. If this is how you want to spend all your post-work days, you need to... Read more →


This photo via Donald J. Trump's Twitter account shows, it says, him signing on Oct. 15, 2015, his 2014 federal return. It's still the only glimpse of Trump's federal tax returns that he's ever provided, either before or after moving into the White House. It's official. Donald and Melania Trump were among the millions of taxpayers who got tax-filing extensions and finally this week filed their 2017 return. It's also official that we won't be seeing the Trumps' 2017 taxes. No Trump taxes: Trump, as he made clear during his presidential campaign, won't release his taxes while they're under audit.... Read more →


UPDATE, Oct. 15: Additional areas in Florida, Georgia, North Carolina, South Carolina and Virginia now receive tax relief in connection with Hurricanes Florence and Michael. Details below. Monday, Oct. 15 is a big tax day for millions. The Internal Revenue Service says more than 14 million taxpayers requested added time to complete their 2017 tax returns. While not all of them put off that tax task until the very last minute, it's a safe bet that a lot did. If' you're among that group of uber-procrastinators, I wish you well in getting the job done by tomorrow. The tax and... Read more →


Did you get an extension back in April to wait until Oct. 15 to file your 2017 tax return? Guess what? That's Monday. Like this coming Monday. Like three days from now! Sorry. That means no weekend fun for you. You need to spend your weekend, or at least part of it, working on your 2017 Form 1040. I feel for all y'all ultimate procrastinators. I've been there, but not this year, thank goodness. The hubby and I still got an extension, joining more than 14 million other taxpayers who sidestepped the April 18 deadline, but we filed our return... Read more →


Port St. Joe on Florida's Panhandle was hard hit by Hurricane Michael. Residents of this small Gulf County, Florida, town now are eligible for special tax relief. (Photo courtesy Florida National Guard via Facebook) As expected, the Internal Revenue Service is giving Hurricane Michael victims extra time to take care of tax tasks that the deadly storm interrupted. The eligible taxpayers now have until Feb. 28, 2019, to file returns, pay taxes and perform certain other time-sensitive acts that had original or extended deadlines between Oct. 7 and the new filing due date next year. Extension deadline considerations: The IRS'... Read more →


Things certainly have changed over the years when it comes to tax filing, especially from the technology perspective. But upgrading all today's IRS computer systems could mean a delayed 2019 tax filing season. (Photo via Wikimedia Commons) As 2018 winds down, we're all looking at tax moves we need to make. (Need some ideas? Check out the suggested October tax tasks to tackle.) In addition to us individual and business filers, "we" also includes the Internal Revenue Service. And the tax agency could have some added trouble this year, thanks to all the changes made late last year by the... Read more →


If you're getting calls from debt collectors, knowing your rights can help you avoid the bad ones who will say anything to get you to pay. Click image above to watch a video from the Federal Trade Commission on how to handle abusive collection calls. Full disclosure up front. I am not a fan of private bill collectors going after unpaid federal tax amounts. But a recent oversight examination found that the debt collectors hired in this latest forced outsourcing of a basic IRS responsibility apparently aren't using egregious collection methods. Still, as the Treasury Inspector General for Tax Administration... Read more →


Manhattan businessmen meet over lunch. (Photo by Phillip Capper via Flickr Creative Commons) The way to a business contract is through a client's stomach. That revised adage underscores what every business person, whether they run a major corporation or a mom-and-pop company, knows: that personal relationships are key to success. And much of the time, those relationships are cemented over business meals. Business meals still tax deductible: The Internal Revenue Service this week gave business a break — or really left a tax break in place — when it comes to deducting the cost of business meals. The tax agency... Read more →


My octogenarian mother does an amazing job of taking care of herself and her little dog, aka my furry younger brother. My mother and her pup come to our place, like the Thanksgiving visit pictured here, but usually it's me taking time from work to head her way. (Photo by Kay Bell) But since she no longer drives and hates to impose on friends and neighbors, I make regular trips to her place to help her run errands, take her to doctor appointments and just visit. It's not too much of a hassle because she lives relatively close and it's... Read more →