Each year, the IRS sends millions of letters and notices to taxpayers for a variety of reasons. Here are ten things you should know about IRS notices in case one shows up in your mailbox. 1. Don’t panic. Many of these letters require a simple response. 2. There are many reasons why the IRS sends correspondence. [...]
I would say stop me if you’ve heard this before, but then you’d quit reading! I’m talking, of course, about President Barack Obama’s fiscal year 2014 budget proposal. Most of the tax proposals in the president’s latest version (released April 10) of how he would like to finance our country’s operations are the same items he’s proposed [...]
WASHINGTON — The Internal Revenue Service today reminded taxpayers to review their tax returns for common errors that could delay the processing of their returns. Here are some ways to avoid common mistakes. File electronically. Filing electronically, whether through e-file or IRS Free File, vastly reduces tax return errors, as the tax software does the calculations, flags common errors [...]