Where’s my Refund?

Posted by on Feb 28, 2015 in Blog | 0 comments

Will IRS budget cuts affect your tax refund? IRS Commissioner John Koskinen testified before congress earlier this year and warned that the recent budget cuts to his agency would affect tax refunds this year. But, in a recent interview with USA Today he said “It’s possible that the level of service won’t be as bad as we worry about it.” So, here’s a view from the front lines. So far, for my clients, the efiing...

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Fox Business Headline – Wrong!

Posted by on Feb 11, 2015 in Blog | 0 comments

The headline reads “People Jailed for Owing Less Taxes than Al Sharpton”  That is absolutely false.  All of the people mentioned in the article were convicted and jailed for committing tax fraud, not for just owing taxes.  Unlike willful tax evasion, owing taxes is not a criminal offense.  The IRS has authority to do many things to a delinquent taxpayer such as, levying wages and bank accounts, or even seizing assets but they...

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Taxing the Super Bowl

Posted by on Feb 9, 2015 in Blog | 0 comments

There’s an article on Fox Business which explores the hefty tax bill that the IRS gets to collect from Tom Brady as a result of winning the Super Bowl.  There is a lot of accurate information in that article, but there is a point on gift tax which is incomplete at best.  Forbes has an article which gives a much more thorough explanation of gift tax and the tax treatment of prizes and awards.  Although most of you do not have to worry...

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