Residents of Connecticut, Missouri, New Jersey, New York and Pennsylvania (and possibly other states) will no longer receive a mailed copy of Form 1099-G, Certain Government Payments, for state and local income tax refunds. These states now require the taxpayer
Tag: tax news
2014 Tax Season to Open January 31
The Internal Revenue Service announced plans to open the 2014 filing season on January 31 for all 1040 filers filing their 2013 income tax return. This includes all small business owners that file on Schedule C as sole proprietors, Schedule F as Farmers, or Schedule
2014 Standard Mileage Rates
The IRS has issued the optional standard mileage rates for 2014, which are down one-half cent from the 2013 rates. The optional standard mileage rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical,
Business or Hobby?
Nine Factors to tell if you have a Business or Hobby The IRS may question taxpayers regarding whether an activity is a business or a hobby. If the activity is not engaged in for profit, it is subject to the
No Tax Refunds During Shutdown
Tax Refunds In other government shutdown news, the IRS announced on its website on Tuesday that, “Tax refunds will not be issued until normal government operations resume.” This marked a change from its shutdown contingency plan, under which 859 employees in its
IRS Provides Tax Relief to Victims of Colorado Storms
The Internal Revenue Service is providing tax relief to individual and business taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado. The IRS announced today that certain taxpayers in the counties of Adams, Boulder, Larimer and Weld will
IRS Launches Site to Explain Affordable Care Act
The IRS has launched a new Affordable Care Act Tax Provisions website at IRS.gov/aca to educate individuals and businesses on how the health care law may affect them. The home page has three sections, which explains the tax benefits and
Tax Tips if You’re Starting a Business
If you plan to start a new business, or you’ve just opened your doors, it is important for you to know your federal tax responsibilities. Here are five basic tips from the IRS that can help you get started. Type
IRS Gives Tax Relief To Oklahoma Tornado Victims
Return Filing and Tax Payment Deadlines Extended to Sept. 30, 2013 WASHINGTON –– After the devastating tornado in Moore and Oklahoma City, the Internal Revenue Service has provided tax relief to individuals and businesses affected by this and other severe storms
IRS Swamped
The Internal Revenue Service said Tuesday that its Modernized e-File Prouction system is taking longer to generate federal acknowledgments for tax return filings. The IRS said the situation “may continue throughout the remainder of the day as receipts increase” of