Monthly Archives: June 2009

IRS Electronic Advisory Committee Delivers Report to Congress

The Electronic Tax Administration Advisory Committee (ETAAC) presented its 2009 Annual Report to Congress. The ETAAC provides feedback on the development and implementation of the Internal Revenue Service’s electronic tax administration strategy.The report includes 10 recommendations to advance the use … Continue reading

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What to do if You Receive an IRS Notice

It’s a moment many taxpayers dread. A letter arrives from the IRS — and it’s not a refund check. Don’t panic; many of these letters can be dealt with simply and painlessly. Each year, the IRS sends millions of letters … Continue reading

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Seven Facts about the New Sales Tax Deduction for Vehicle Purchases

Taxpayers who buy a new car or several other types of motor vehicles this year may be entitled to a special tax deduction when they file their 2009 federal tax returns next year. The tax break is part of the … Continue reading

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Check Withholding to Avoid a Tax Surprise

With 2009 nearly half over, the Internal Revenue Service reminds individual taxpayers there is no better time to check their 2009 federal income tax withholding levels to make sure they do not face any surprises when returns are due next … Continue reading

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Prepare for Hurricanes by Safeguarding Tax Records

With the 2009 hurricane season now underway, the Internal Revenue Service encourages individuals and businesses to safeguard themselves by taking a few simple steps. Create a Backup Set of Records Electronically Taxpayers should keep a set of backup records in … Continue reading

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Top Ten Facts about Amended Returns

Taxpayers who need to make a change or adjustment on a return they already filed can do so by filing an amended return. Here are the top 10 things every taxpayer should know about amending your federal tax return. 1. … Continue reading

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IRS Payment Options

If you cannot pay the full amount of taxes you owe by the April deadline, you should still file your return by the deadline and pay as much as you can to avoid penalties and interest.  There are also alternative … Continue reading

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Stimulus Funds Expedite Refund Issuance

The Governor of Missouri has dedicated $250 million in order to pay individual income tax refunds and property tax credit claims for the 2008 tax year. Refunds will begin to be paid Tuesday, May 26, 2009. All 2008 returns that … Continue reading

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Statement from IRS Commissioner Doug Shulman on Offshore Income

The following excerpt is a statement made by IRS Commissioner Doug Shulman: My goal has always been clear – to get those taxpayers hiding assets offshore back into the system. We recently provided guidance to our examination personnel who are … Continue reading

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Tax Deduction for New Car Buyers

IRS announced on March 30, 2009 that taxpayers who buy a new passenger vehicle this year may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns next year. “For … Continue reading

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