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The Use of Mail Delivery Services to Timely File a Petition with Tax Court

A timely mailed petition to Tax Court can be treated as if it was timely filed, even if not received by the filing due date if mailed using an acceptable mail carrier. Therefore, a petition received by...

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Tax Court and S Corporation Wages

A recent tax court case, David E. Watson, P.C. v United States, has upheld the IRS re-characterization of S corporation distributions as wages. The individual shareholder-employee in the case, David...

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Tax Settlements to Exonerated Prisoners: A Way to Avoid this Tax Problem

Federal Congressmen introduced a bill on March 22, 2012 that would prohibit the Internal Revenue Service from taxing settlements awarded to anyone wrongfully convicted of a crime and then exonerated...

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Mileage Logs: Keeping records is not enough to guarantee tax deductions

Every year the Internal Revenue Service issues optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes....

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The Foreign Account Tax Compliance Act (FATCA) and Effect on 2012 OVDI

Foreign financial institutions are now required by law to disclose information on U.S. account holders, and have until the end of 2013 to implement new policies to prevent those holders from evading...

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The IRS, Tax Preparers and the US Supreme Court

On March 13, 2012, three tax preparers filed a lawsuit against the Internal Revenue Service in the U.S. District Court for the District of Columbia.  They filed the suit because they believed that the...

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IRS Calls Practitioners over EITC Claims

The Earned Income Tax Credit, often called the EITC, is a tax credit that can help taxpayers keep more of what they earn.  It is a refundable federal income tax credit for individuals and families who...

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Failure to File and Failure to Pay

When a taxpayer does not file their returns for their personal income taxes, or if a taxpayer files for an extension but never files, the IRS does not forget about the unfiled returns.  For each year a...

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New York State Filing Tips

According to the New York State Department of Taxation and Finance, taxpayers tend to make several common mistakes every year.  The following list is a way for you to double check so you can hopefully...

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The Internal Revenue Service Disallows Child Tax Credits

The Internal Revenue Services is strict when it reviews child tax credits.  The tax law allows a deduction for each dependent the taxpayer is supporting.  A dependent is defined as a qualifying child...

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Itemizing vs. Standard Deduction

Each tax season taxpayers have to choose to between standard and itemized deductions. It is smart to compare the two methods, and pick the one that gives you the largest tax benefit. The following are...

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Unfiled Tax Returns

Unfiled tax returns can cause a multitude of tax problems. Non-filers often do not file because they are unable to pay the taxes owed. This only adds to your tax problems, and can result in wage...

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Fresh Start Program Helps Taxpayers Who Owe the IRS Back Taxes

If you owe back taxes, the Internal Revenue Service offers a Fresh Start initiative that makes it easier to pay back taxes and avoid tax liens.  This program can benefit small business taxpayers and...

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IRS Tax Fraud Alerts

Tax fraud is common, and not always the fault of the taxpayer.  The IRS warns taxpayers of scams and fraud that they might unknowingly become a part of.  Listed are some common tax fraud types that...

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IRS and Levies

If you do not settle your tax debts from back taxes, the Internal Revenue Service can put a levy on your bank account. A levy is a seizure of your property to settle a tax debt.  This seizure is legal,...

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New York State Sales Tax Audits

The New York State Department of Taxation and Finance will conduct sales tax audits in order to verify that business owners paid the correct tax.  If audited, business owners will be required to...

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Recordkeeping for Individual Taxpayers

One of the best ways to be able to prove your case in a criminal or civil tax audit is through your financial records. Unfortunately, most taxpayers are unaware that they have a legal responsibility to...

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Form 1040X: The Amended Tax Return

Having your tax lawyer revising your Form 1040, U.S. Individual Income Tax Return, is done if information reported on the form is incorrect and changes the tax calculation.  Filing an amended return is...

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Innocent Spouse Relief on Jointly Filed Income Tax Returns

Married taxpayers often choose to file joint tax returns because of the benefits this filing status permits, especially tax credits and exemptions.  When filing a joint return, both of the taxpayers...

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Determining Filing Status

When taxpayers file their income tax return, one of the first questions required is their filing status.  Filing an income tax return with the correct filing status is important for taxpayers; the...

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