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IRS Intensifies Work on Identity Theft and Refund Fraud



IRS Intensifies Work on Identity Theft and Refund Fraud; Criminal Investigation Enforcement Actions Underway Across the Nation

 

The Internal Revenue Service has announced it has started more than 200 new investigations this filing season into identity theft and refund fraud schemes. IRS Criminal Investigation has started 295 new identity theft investigations since January, pushing the number of active cases to more than 1,800.

The coast-to-coast effort by Criminal Investigation is underway as part of a larger effort at the IRS to combat identity theft and refund fraud by pursuing identity thieves, preventing fraudulent refunds from being issued and helping victims of this crime.
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IRS: The Truth About Frivolous Tax Arguments



IRS:  The Truth About Frivolous Tax Arguments

 The Internal Revenue Service has released the 2014 version of “The Truth about Frivolous Tax Arguments.” The document describes and responds to some of the common frivolous tax arguments made by those who oppose compliance with federal tax laws. The cases cited demonstrate how frivolous arguments are treated by the IRS and the courts. The 2014 version includes numerous recently decided cases that demonstrate that the courts continue to regard such arguments as illegitimate. 
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If The Customer Can’t Pay The Tax – Part II



If The Customer Can’t Pay The Tax – Part II

 Offer in Compromise

 An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. If the liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for an OIC. In order to be eligible for an OIC, the taxpayer must have filed all tax returns, made all required estimated tax payments for the current year, and made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees. 
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If the Customer Can’t Pay The Tax – Part I



If the Customer Can’t Pay The Tax – Part I 

There are several different payment programs available for taxpayers who cannot pay the taxes owed by April 15.  Because any balance due is subject to interest and a monthly late payment penalty, it is in the customer’s best interest to pay in full as soon as possible to minimize the additional charges. Penalties are also assessed for failure to file a tax return, so the customer should file on time even if they cannot pay the balance in full. 

There are many ways to pay an outstanding federal income tax liability, including by check or money order, made payable to “United States Treasury.”  For detailed information on paying taxes by credit or debit card, or other electronic payment, go to http://www.irs.gov/uac/Electronic-Payment-Options-Home-Page, or call the IRS at 800-829-1040. 
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More than Half of all Income Tax Returns Have Been Received



More than Half of all Income Tax Returns Have Been Received.

 

With the tax deadline getting closer, the IRS has received more than half of all the returns it expects to receive during 2014, the agency announced today. The IRS received more than 75 million individual tax returns as of March 14 and projects that it will receive about 149 million individual income tax returns by the end of the year.

 

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IRS Has $760 Million for People Who Have Not Filed a 2010 Income Tax Return



IRS Has $760 Million for People Who Have Not Filed a 2010 Income Tax Return

 Refunds totaling almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a federal income tax return for 2010, the Internal Revenue Service announced today. However, to collect the money, a return for 2010 must be filed with the IRS no later than Tuesday, April 15, 2014.

 ”The window is quickly closing for people who are owed refunds from 2010 who haven’t filed a tax return,” said IRS Commissioner John Koskinen. “We encourage students, part-time workers and others who haven’t filed for 2010 to look into this before time runs out on April 15.” 

The IRS estimates that half the potential refunds for 2010 are more than $571. 
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IRS Issues Publication on Business Expenses



IRS Issues Publication on Business Expenses

 

Millions of individual tax filers have business income either as sole proprietors or as sub-contractors. Many individual filers also have unreimbursed business expenses. The IRS recently issued Publication 535, Business Expenses, which provides valuable information for these filers. The publication contains useful hints for Tax Year 2013, for which many taxpayers are still completing returns and for Tax Year 2014, for which taxpayers are tracking expenses and making financial decisions. 

For Tax Year 2013

Optional safe harbor method to determine the business use of a home deduction, also known as the simplified option for claiming the home office deduction. Beginning in 2013, taxpayers can use the optional safe harbor method to determine the deduction for the business use of a home. 
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Winter 2014 Statistics of Income Bulletin Now Available



Winter 2014 Statistics of Income Bulletin Now Available

The Internal Revenue Service announced the availability of the winter 2014 issue of the Statistics of Income Bulletin, which features preliminary data for individual income tax returns filed for Tax Year 2012. 
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IRS Releases FY 2013 Data Book



IRS Releases FY 2013 Data Book

 

The Internal Revenue Service today released the 2013 IRS Data Book, a snapshot of agency activities for the fiscal year. 

The report describes activities conducted by the IRS from Oct. 1, 2012, to Sept. 30, 2013, and includes information about returns filed, taxes collected, enforcement, taxpayer assistance and the IRS budget and workforce, among others. 
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IRS: More Taxpayers Filing from Home Computers in 2014



IRS:  More Taxpayers Filing from Home Computers in 2014

 More than 27 million taxpayers have filed their tax returns from home computers so far this year, an increase of almost 6 percent compared to last year. 

These 27 million taxpayers used a variety of software products to prepare and e-file their own returns. 
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