Tax Refunds Delayed
In an IRS Industry call at 2pm January 26, the IRS indicated that some of their new “upfront fraud filters” had held up more returns that then had anticipated.
The new year brings promise of great things ahead. People everywhere are making resolutions, looking forward to what the new year may bring, and developing plans to help them reach their goals.
In an IRS Industry call at 2pm January 26, the IRS indicated that some of their new “upfront fraud filters” had held up more returns that then had anticipated.
On December 20th the IRS announced that a due diligence checklist, Form 8867, will now be required to be filed with any federal return that claims the Earned Income Tax Credit (EITC). This decision will be enacted as of January 1, 2012, and all will affect returns filed after that date that claim the EITC.
Currently, the IRS follows a “look back” model of compliance. With this method, the IRS compares third-party information it receives with that submitted on a tax return, often after the return has already been accepted.
The CPA Practice Advisor has announced their 2012 Readers’ Choice Awards and Drake Software has taken the lead, once again.
The new year brings promise of great things ahead. People ...
On December 20th the IRS announced that a due diligence ...
On December 20th the IRS announced that a due diligence ...
Franklin, NC (December, 2011) -- The CPA Practice Advisor has ...
WHICH PLAN SHOULD I RECOMMEND? There are several considerations in deciding ...