The Internal Revenue Service (IRS) invites community organizations, elected officials, state and local governments, employers, and other interested parties to join a nationwide effort on Earned Income Tax Credit (EITC) Awareness Day, January 31, 2014. IRS estimates four of five eligible
Tag: taxes
IRS Resources
The IRS will start processing federal income tax returns starting Friday, January 31, 2014. If you need tax help, the IRS website has forms, information, and IRS contact information you need. The quickest way to get federal income tax information
Tax Tip – 5 Tax Mistakes to Avoid
1. Not Filing a Tax Return Always file, even if you do not have the money to pay the taxes you owe. The IRS considers not paying on time and not filing as two separate issues, and a penalty is involved
14 Common IRS Audit Triggers
The Internal Revenue Service audited .96 percent of individual tax returns in fiscal year 2013, declining for the second straight year. Even though there was a decline, the IRS increased the revenue it collected from tax enforcement by 6.3%. Ever
Business Tax Filing Season Begins January 13
The IRS will begin accepting 2013 business tax returns on Monday, January 13, 2014. This start date applies to both electronically-filed and paper-filed returns. Business returns include any return that posts on the IRS Business Master File (BMF). BMF returns include a variety of income tax and
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
Expect More Online Self-Services from the IRS
The Internal Revenue Service plans to transition more of its services for taxpayers to online, automated self-service options next tax season to save money and manpower. The IRS said the changes were made following input from stakeholders in the tax community
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
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
Tax Tips – Summer Tune-up for Tax Records
During the summer, you may not think about doing your taxes, but maybe you should. Some of the expenses you’ve paid over the past few months might qualify for money-saving tax credits or deductions come tax time. If you organize