Archive for the ‘Blog’ Category

“TurboTax Made Me Do It” is not a valid excuse

26/05/17 8:42 am | Comments (0) | Posted By:

On May 11, 2017, the Tax Court issued a Memorandum Decision (TC Memo 2017-79) that addressed, among other things, the Taxpayer arguing that the software “lured” him into claiming too many deductions on his tax return. There were a number of issues on this return that caught the eye of the IRS: alimony paid deduction, interest deduction, and d...

Anti-fraud filters delay refunds

04/02/16 10:18 am | Comments (0) | Posted By:

National Taxpayer Advocate Nina E. Olson released her 2015 annual report to the Congress on January 6, 2016. Olson expressed her concerns that the IRS is scaling back telephone and face-to-face services to assist the nation’s individual taxpayers and business entities in complying with their tax obligations. In addition, other key issues were...

Identity Theft: IRS Policy Change and Prevention Tips

23/11/15 4:35 pm | Comments (0) | Posted By:

Identity theft can be a devastating experience that can turn a person’s life upside down. In an effort to combat identity theft and financial crimes in general, the IRS Criminal Investigation examines possible criminal violations of the Internal Revenue Code and related financial crimes, including fraud related to identity theft. Each year, the ...

Tax Scams – Watch Out For New Tricks!

24/09/15 1:16 pm | Comments (0) | Posted By:

For many years now, the IRS has been continually warning the public about the ever-changing tax scams used by individuals to take advantage of unsuspecting taxpayers. These schemes can take place by mail, email, or over the phone and most often involve tricking the taxpayer into giving up personal financial information or intimidating the taxpay...

IRS’ “Get Transcript” Application Gets Hacked

11/06/15 8:00 am | Comments (1) | Posted By:

  On May 26th the Internal Revenue Service announced that more than 100,000 accounts from the “Get Transcript” application had been accessed by unauthorized individuals (i.e. criminals). The data stolen consisted of Social Security information, dates of birth and street addresses along with prior year tax transcripts. Access to the Get Transc...

Avoiding Abusive Return Preparers This Tax Season

22/01/15 11:33 am | Comments (0) | Posted By:

Tax season is quickly approaching. According to its website, the IRS received 149,684,000 individual income tax returns in 2014 as of December 26, 2014 (2014 Filing Season Statistics). Of these returns, the IRS states that more than half were prepared by hired tax professionals. If you decide to hire a tax professional to prepare your tax return...

It’s Tax Season – Be on the Lookout for “The Dirty Dozen”

04/04/13 12:06 pm | Comments (0) | Posted By:

  As tax season begins to draw to an end, the Internal Revenue Service is issuing its annual “The Dirty Dozen” warning to consumers about fraud on and by taxpayers. This year’s list is little changed from 2012, and is again headed up by identity theft. A growing problem every year worldwide, the IRS is stepping up its vigilance in this area,...