WASHINGTON ― The Internal Revenue Service announced the adoption of a “Taxpayer Bill of Rights” that will become a cornerstone document to provide the nation’s taxpayers with a better understanding of their rights.The Taxpayer Bill of Rights takes...
What to do if You Get a Notice from the IRSEach year the IRS mails millions of notices. Here’s what you should do if you receive a notice from the IRS:1. Don’t ignore it. You can respond to most IRS notices quickly and easily. And it’s important that you reply...
WASHINGTON — the Internal Revenue Service issued another strong warning for consumers to guard against sophisticated and aggressive phone scams targeting taxpayers, including recent immigrants, as reported incidents of this crime continue to rise nationwide. These...
Here are four tax credits you should consider when filing your 2013 taxes. Tax credits help reduce the taxes you owe. Some credits are also refundable. That means that, even if you owe no tax, you may still get a refund. Earned Income Tax Credit The Earned Income Tax...
As a tax preparer, you should ask every new client to bring along a copy of last year’s return, and if available, of previous returns as well. This is especially necessary in the case of a taxpayer taking a depreciation deduction, since the depreciation rate should be...