Tax Talk

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 […]

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 […]

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. […]

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 […]

As of right now, the law will not allow for taxpayer debt to be reported to credit bureaus, but looming over us is the $400 BILLION taxpayer debt.  The Government Accountability Office has been written to assess the feasibility of it. The theory is that taxpayers will be more will to pay if their credit […]