September 21, 2010 – 4:56 pm
The Internal Revenue System (IRS) fortifies its efforts in discovering and collecting tax returns and frauds. “The IRS aims to detect tax return differences which can eventually result to an audit,” said David Gannaway, tax litigation consultant of Marks Paneth and Shron, a New York accounting firm.
According to a recent survey conducted by the Oversight Board of the IRS, the concerted efforts to rectify tax return inaccuracies are prompted by a volatile and weak economic conditions. It is roughly estimated that thirteen percent of the tax payers say yes to tax cheating which is significantly higher than nine percent … Read more at 2008 Taxes.
Check the Status of your Tax Return
Once you have filed your tax return you are sure to want to know its status and when your tax refund will be arriving. The IRS provides a couple of different options for you to determine when your return has been received and when your refund will be arriving. Start today at IRS.gov.
The IRS website has a ‘Where’s my Refund?’ option which provides the information you are seeking. You need to provide three pieces of information to obtain the status of your return. Provide your Social Security Number, your Filing … Read more at 2008 Taxes.
You Bought a House, Claim the First-Time Homebuyers Credit
There are a number of documentation requirements when you go to file your return for 2009 and you want to claim the First-Time Homebuyers Credit. This great credit of $8,000 helps with fixing up the new house or paying off some moving expenses. But claiming the credit requires a number of documents and filing a paper return with the IRS.
The first statement you will need to attach to your 1040 paper tax return is a HUD-1 Settlement Statement. You will get a copy of this form when you close … Read more at 2008 Taxes.
By Steve
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Posted in property taxes, tax credit, Tax Preparation, turbotax
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Also tagged 1098, 2009, certificate of occupancy, documents, first-time home buyers, Hud-1, irs, long-term buyer, mortgage interest statements, paper return, retail sales contract, settlement statement, tax credit
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Four Errors Made Often on Tax Returns
Make sure you avoid these errors on your return to have your return accepted quickly and your refund sent to you as soon as possible.
1. Recovery Rebate Credit: If you did not receive the Recovery Rebate Credit in 2008 or did not receive the maximum amount that you could claim, you can claim the the credit now. But make sure it is done correctly. If you exceed the total amount allowed for the credit, your return will be delayed.
2. Incorrect and Missing SSN: Entering all Social Security Numbers exactly as they … Read more at 2008 Taxes.
February 21, 2009 – 5:23 pm
EasyTaxReturns.com Offers Free eFiling
If you’re looking for an online electronic tax return filing option, take a look at EasyTaxReturns.com as they have several very good programs which include free eFiling with your return. Their tax return application is guaranteed to be 100% accurate, it is easy to use, and you don’t need a credit card.
Two Different Packages
EasyTaxReturns.com offers two different packages depending on your needs. Their Standard option includes your 1040 federal tax return, state return support, easy to use tax forms, and around the clock support. Their Deluxe package includes the filing of you state return … Read more at 2008 Taxes.
February 11, 2009 – 6:55 pm
5 Things about Identity Theft and Tax Returns
Five things about Identity Theft from the IRS that you need to know to avoid scams this tax season. What to expect from the IRS in the form of communication and who to contact if you think you have become a victim.
1. If you receive a letter or notice from the IRS that makes you think your identity has been stolen or someone has used your social security number illegally, contact the IRS immediately.
2. Contact the IRS right away if you receive a notice that more than one tax … Read more at 2008 Taxes.
