**IRS Delays

¬†American Taxpayer Relief Act of 2012 (ATRA) The IRS published the delayed forms list shown below for the forms affected by certain extender provisions that will cause processing delays for some individual returns. Taxpayers will need to wait to file…

Don’t Fall for Phony IRS Websites

10-25-12 The Internal Revenue Service is issuing a warning about a new tax scam that uses a website that mimics the IRS e-Services online registration page. The actual IRS e-Services page offers web-based products for tax preparers and payers, not…

IRS Announces 2013 Pension Plan Limitations

10-18-12 Taxpayers May Contribute up to $17,500 to their 401(k) plans in 2013 The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2013. In general, many…

Renting Your Vacation Home

07-27-12 Income that you receive for the rental of your vacation home must generally be reported on your federal income tax return. However, if you rent the property for only a short time each year, you may not be required…

Taxpayers Make a Fresh Start

07-9-12 More Flexible Offer-in-Compromise Terms Help Taxpayers Make a Fresh Start The IRS has expanded its Fresh Start initiative by offering more flexible terms to its Offer-in-Compromise Program. These newest rules enable some financially distressed taxpayers to clear up their…

Summertime Tax Tip 2012

Keep the Child and Dependent Care Tax Credit in Mind for Summer Planning During the summer many parents may be planning the time between school years for their children while they work or look for work. Keep in mind a…