Tax Talk

  • Happy Thanksgiving From Federal Direct Tax Services

    Federal Direct will be closed on November 22nd, 23rd, & 24th in observation of Thanksgiving. The office will reopen on November 26th at 9 am. Have a wonderful holiday! Things for which we are thankful: 1. You (..and you really look nice today!) 2. Corn (creamed or regular, we’re not picky, but creamed is way […]

    Sickness NOT Enough To Beat Late Filing Penalties

    A woman with a plethora of health problems made several large taxable gifts to her daughter, but failed to make the gift tax return by the filing date. The woman was down with pneumonia and heart palpitations. She had cataract surgery and knee replacement surgery during the same time period. The court refused to waive […]

    TWO & IPO Online Software Applications Down This weekend.

    All online software applications will be down for maintenance this weekend. TWO & IPO will not be available for use. You can resume using the online applications on Monday after the software developers have completed the work. We sincerely apologize for any inconvenience. As we get close to the beginning of tax season, we approach […]

    Tax Refund Splitting Provides New Avenue for Fraud Detection

    TIGTA found that more than 65,300 bank accounts had multiple direct deposits, accounting for more than 949,000 refunds for approximately $1.6 billion, some of which belong to IRS employees. What does this mean?  Essentially, this means that 65,300 preparers may be shifting money from his or her client’s refund to the preparer’s own bank account. […]

    Updated: IRS will shut down 1040 e-filing on November 23rd

    The IRS will officially shut down all 1040 e-filing for the year on November 23rd. Legacy e-filing ended last month, but modernized e-filing (Mef) is still operational until November 23, 2012. Mef will resume on January 22nd with the start of the 2012 tax filing season. If you need to file 2011 returns you CAN […]

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