Tax Scam Warning: Beware of Phony Refund Scheme Abusing Popular College Tax Credit
March 2, 2012
Senior Citizens, Working Families and Church Members Are Targets
Washington, D.C. – The Internal Revenue Service today warned senior citizens and other taxpayers to beware of an emerging scheme tempting them to file tax returns claiming fraudulent refunds.
The scheme carries a common theme of promising refunds to people who have little or no income and normally don’t have a tax filing requirement. Under the scheme, promoters claim they can obtain for their victims, often senior citizens, a tax refund or nonexistent stimulus payment based on the American Opportunity Tax Credit, even if the victim was not enrolled in or paying for college.
[youtube]http://www.youtube.com/watch?v=59Pd320F8z0[/youtube]
IRS Kicks Off 2012 Tax Season with Deadline Extended to April 17th
January 4, 2012
Washington, D.C. – The Internal Revenue Service today opened the 2012 tax filing season by announcing that taxpayers have until April 17th to file their tax returns. The IRS encourages taxpayers to e-file as it is the best way to ensure accurate tax returns and get faster refunds.
The IRS also announced a number of improvements to help make this tax season easy for taxpayers. This includes new navigation features and helpful information on IRS.gov and a new pilot to allow taxpayers to use interactive video to get help with tax issues. [Read more]
IRS and HHS Announce New Round of Outreach to Small Businesses and Practitioners About the Small Business Health Care Tax Credit
September 10, 2011
Washington, D.C. – As the upcoming filing extension tax deadlines approach, the Internal Revenue Service, in partnership with the Department of Health and Human Services, is announcing a new round of outreach to small employers and the professional service providers they rely on to encourage them to review the new Small Business Health Care Tax Credit to see if they are eligible.
“As the filing deadlines approach, we want to make sure that small business owners don’t leave any money on the table,” said IRS Commissioner Doug Shulman. “Small businesses that offer health insurance should learn about this credit and claim it if they are eligible.” [Read more]
Two-Year Limit No Longer Applies to Many Innocent Spouse Requests
July 29, 2011
Washington, D.C. – The Internal Revenue Service today announced that it will extend help to more innocent spouses by eliminating the two-year time limit that now applies to certain relief requests.
Available only to someone who files a joint return, innocent spouse relief is designed to help a taxpayer who did not know and did not have reason to know that his or her spouse understated or underpaid an income tax liability. Publication 971, Innocent Spouse Relief, has more information about the program. [Read more]
IRS Identifies 100,000 Preparers Who Failed to Follow New PTIN Rules
July 17, 2011
Washington, D.C. – As part of its new oversight program of the nation’s tax return preparation industry, the Internal Revenue Service today announced it will send letters to approximately 100,000 tax return preparers who prepared returns in 2011 but failed to follow new requirements.
In 2010, the IRS launched an initiative to increase its oversight of the tax return preparation industry and regulate the conduct of tax return preparers. All paid tax return preparers must obtain a Preparer Tax Identification Number (PTIN) and, when required to do so, sign their names and include their PTINs on the returns and refund claims they prepare for compensation. [Read more]
IRS Launches the IRS2Go App for iPhone, Android
January 25, 2011
Taxpayers Can Check Refunds, Get Tax Information
Washington, D.C. – The Internal Revenue Service today unveiled IRS2Go, its first smartphone application that lets taxpayers check on their status of their tax refund and obtain helpful tax information.
“This new smart phone app reflects our commitment to modernizing the agency and engaging taxpayers where they want when they want it,” said IRS Commissioner Doug Shulman. “As technology evolves and younger taxpayers get their information in new ways, we will keep innovating to make it easy for all taxpayers to access helpful information.”
[youtube]http://www.youtube.com/watch?v=LlOL7-wrjVg[/youtube]
IRS Kicks Off 2011 Tax Season with Deadline Extended to April 18th
January 5, 2011
Taxpayers Impacted by Recent Tax Breaks Can File Starting in Mid- to Late February
Washington, D.C. – The Internal Revenue Service today opened the 2011 tax filing season by announcing that taxpayers have until April 18th to file their tax returns. The IRS reminded taxpayers impacted by recent tax law changes that using e-file is the best way to ensure accurate tax returns and get faster refunds.
Taxpayers will have until Monday, April 18th to file their 2010 tax returns and pay any tax due because Emancipation Day, a holiday observed in the District of Columbia, falls this year on Friday, April 15th. By law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have three extra days to file this year. Taxpayers requesting an extension will have until October 17th to file their 2010 tax returns. [Read more]
Affordable Care Act provides expanded Tax Benefit to Health Professionals working in Underserved Areas
June 18, 2010
Some Who Received Student Loan Relief May Qualify for Tax Refunds
Washington, DC – As part of a larger Administration announcement today on efforts to strengthen the health care workforce, the Internal Revenue Service announced today that under the Affordable Care Act, health care professionals who received student loan relief under state programs that reward those who work in underserved communities may qualify for refunds on their 2009 federal income tax returns as well as an annual tax cut going forward.
“Doctors and nurses who choose to practice in underserved areas make a great contribution to their local communities,” Commissioner Doug Shulman said. “By expanding the tax exclusion for student loan forgiveness, the Affordable Care Act provides an even greater incentive to practice medicine in areas that need it most.”
The Affordable Care Act included a change in the law, effective in 2009, that expands a tax exclusion for amounts received by health professionals under loan repayment and forgiveness programs. Prior to the new law, only amounts received under the National Health Service Corps Loan Repayment Program or certain state loan repayment programs eligible for funding under the Public Health Service Act qualified for a tax exclusion. [Read more]
