Government Shutdown Over & IRS Open
The government reopens! All governmental bodies should be open after the end of the shutdown and congress goes back to work. While offices are open, there is now a backlog of work for these governmental departments and workers, so keep in mind that call times could be longer than normal, even hours. IRS phone lines […]
IRS Getting Stricter on Enforcing Preparer Penalties
According to a report by TIGTA (requested by the IRS Oversight Board to determine its efficiency in using the existing requirements and penalty regime that applies to unenrolled paid tax return preparers) there are several areas where the IRS could improve. The overall objective was to determine whether controls are in place to ensure […]
RTRP Goes To Appeals Court for Oral Arguments
The IRS is appealing the court’s decision in the case of Loving vs the IRS. While their defense calls upon an 1884 law, the judges were noted to have been “engaged.” There is no doubt that this ability for the IRS to regulate preparers is long over due and much needed, but if this appeal […]
IRS Proposes Higher Fees for OIC & Payment Arrangements
Due to continuous budget cuts for the IRS, the Agency has proposed plans to raise fees for programs that help taxpayers who are struggling with enormous tax debt. These proposed raise will be on fees which are charged for an Offer in Compromise or fees to set up payment installation agreements. These fees have not […]
Gov to Allow “Unbanked” to Buy Insurance with Prepaid Debit Cards
Remember that report stating that folks with out bank accounts were going to face a ton of problems? Well, that crisis has been avoided. The Obama administration said Wednesday that there will be a rule preventing health plans from not accommodating households that do not have traditional bank accounts. An estimated 8.5 million people without […]