The IRS Audit Blog

Archive for August, 2007

How to pick a tax preparer

If you ask your barber for a trim and end up with a buzz cut, your hair will grow back in a few months. But if an inept tax preparer makes a hash out of your tax return, the repercussions could haunt you for years.

Levies – IRS Collection Alternatives, from the Taxpayer Advocate Service

Question: Filing late taxes and getting a refund?

Ok so I started working (not under the table ) when I was 20… In 2005. I will be absolutely honest I didn’t know I had to file taxes because my parents claimed me as a dependant. About 2007 I knew kinda but was scared to ask. I finally bit the bullet and called the IRS. To my surprise, they were very very nice and weren’t shocked I hadn’t filed. So on October 6th I filed 2005, 2006, and 2007. The statute of limitations is I can’t get a refund for 2005. That’s ok I was a dependent and only got like 130 bucks. 06 and 07 I’m getting 1’600 back. My question is.. Does it take longer to get your refund when you file late? I am recently unemployed and need the money soon. Not enough to get an advance on it though. Personal experience with late refunds is great! Thanks!
Yeah I did direct deposit, and there is no penalty if you are owed taxes. That’s what the IRS people said.
I filed 2008

Answer: Any time you have to mail a return it takes longer. It can easily take 6 – 8 weeks. If you have a refund coming then there is no penalty for late payments but the IRS can, if they want, hit you with a late filing penalty. Most likely they wont. I hope you filed state if required also.

FBAR filing provisions require immediate attention

Taxpayers face a June 30 deadline to file a Report of Foreign Bank and Financial Account (FBAR) for 2009. The Internal Revenue Service (IRS) is also allowing some taxpayers to make delinquent FBAR filings by that date without facing penalties.

does the irs have a time limit to collect unpaid taxes

Will More States Target Rich?

Obama tax proposals could make state tax hikes, such as those in Oregon, more painful.

Ron Paul: State of the Union Address Part 3 of 3