The IRS Audit Blog

Archive for April, 2008

Question: Tax Returns/Refunds for California?

I was wondering if anyone could guide me in the right direction to finding out where I can check for my name on the California IRS unclaimed tax refunds list. I’ve heard of such a list where you can check for your name on unclaimed tax refunds. If you have any information, please let me know.

Answer: It is called the Bureau of ESCHEAT, and is usually a sub-department of your state’s Dept of Revenue…

Free tax help offered

Many low- and moderate-income earners are missing out on refunds.

Millions unclaimed at IRS

Question: Do I really have to disclose all my assets to my apartment complex?

My apartment complex wants me to fill out a form disclosing all my assets — car, bank accounts, IRA, investment accounts. They claim it is required by the IRS to comply with housing assistance laws. I don’t qualify for housing assistance and don’t care to apply for it. I am not on a lease nor is this a credit check. I am in Austin, Tx. Is this disclosure actually required by law? If so, can anyone quote chapter and verse?
It’s not public housing. I explicitly asked if there was any answer I could give that would deny me housing and they said no. I’m also looking for chapter and verse, if it exists, that says I don’t have to answer these questions.

Answer: The complex you are at is public housing, income based. You have to qualify to live there. Yes, it is illegal for you to live there if you do not qualify, and they can’t tell if you qualify without information.

Census results determine how funds are distributed

Editor’s note: The second installment of a three-part series on the Census. As Americans will soon find a form in their mailboxes from the United States Census Bureau, it is natural to wonder what the census measures, how the information is used and why it is important to fill it out.

Unreported Offshore Income – Disclosure 3 of 3

Deloitte Prevails in Lawsuit Against Ex-Vice Chair

Deloitte won a lawsuit against a former partner and vice chairman accused of profiting from insider trading on clients stocks and violating the firm s conflict-of-interest rules.

How Sam Harris Demonize Islam? Used Anglo Quran in Argument

Question: When paying estimated taxes, do I use my SSN or TIN?

I started a consulting business and I was advised to obtain a taxpayer identification number from the IRS so that I would not have to divulge my personal SSN when transacting business. Subsequently, I signed up at the IRS’s website to make business tax payments using that TIN. When I went to make a payment, I discovered that form 1040-ES was not one of the choices. I called the IRS and they said to sign up again and classify it as personal not business. So I signed up again using my business TIN and my personal name/address. At this point I’m confused as to which number I should post my estimated tax payments to. Should I pay to my own SSN or should I pay to the TIN? I don’t know why the IRS makes everything so difficult then threatens to penalize you if you don’t get it right!
I’m not interested in being referred to another website to find this answer. I have already read many websites which is why I posted the question here.

Answer: *argh*

If you are a sole proprietor or single member LLC who did not elect to be taxed any other way, you will include your taxable income on YOUR 1040 schedule C. Consequently all taxes due will be under your SSN, so the 1040ES payments need to be under the SSN.

If you elected to be an S-corp, the income ultimately goes back to the 1040, primarily via a W-2, so you would normally handle the taxes as either withholding on the W-2 or as 1040ES payments. Again the tax still is under your SSN.

As for making life difficult, the IRS never told you to get an EIN for a sole proprietor. In fact they told you to use your SSN. (See the W-9 instructions, they highly recommend you give your SSN to the payer.) The IRS says you get an EIN for the business if you have employees, a retirement plan or if the bank requires it. For tax purposes, the SSN was fine.

Ask the Experts: Advice on keeping records, handling pension taxes

How long tax records should be kept and the amount of taxes owed on pension and Social Security income are issues addressed this week by IRS expert Jesse Weller.

Recuperación: Hacer Que el Trabajo Pague-Reclámelo Enero 2010

Man burns home, crashes plane into IRS offices in Austin, Texas

AUSTIN, Texas — A software engineer furious with the Internal Revenue Service launched a suicide attack on the agency Thursday by crashing his small plane into an office building containing nearly 200 IRS employees, setting off a raging fire that sent workers fleeing for their lives.

Tax Preparation Houston – personal or business tax preparation help in Houston, Tx