The IRS Audit Blog

Archive for October, 2008

Question: Economic Stimulation Payment return?

Hi ,
I want to know whether I am eligible to get “Economic Stimulation Payment ” or not .. I am on H1B with valid SSN number , my wife came on H4 , in 2007 she got H1B with SSN but never got into pay roll or in job ..Also we plan to go to India May this year and she will come back on H4 ( dependent) .. This year I filed Tax return married jointly with her ITN ( i have not used her SSN) .. Now as per IRS rule , I am not qualified to get economy package bonus .. But is it advisable to file Amended Returns & Form 1040x .. Please let me know so that I can consult you and get it done.

Answer: You can find out here: http://www.irs.gov/newsroom/article/0,,id=177937,00.html

IN BRIEF

Nye County Public Works Department will hold the 2010/2011 fiscal year Roads Workshop at 6 p.m., Feb. 25. All petitions received before Oct. 31, 2009, will be considered for the 2010/2011 chip seal season.

Cant afford to pay, does the IRS have a payment plan?

Question: When using IRS Form 8880 can a deduction be taken if a spouse recieves distributions from his IRA?

Answer: If you are filing separately, each will file a separate 8880. If filing jointly, then it is combined on the same form, but each is listed in separate columns. You can receive distributions from an IRA and still be able to claim the credit, but you reduce the contributions by the amount of the distributions received, so if the distributions exceeds the amount of the contributions made, you will have nothing to calculate the credit with. Note however, that the taxpayer and spouse is calculated separately, so if the spouse receives distributions from his IRA, while his wife doesn’t, his distributions doesn’t get deducted from HER contributions for purposes of the credit.

Tax tips for 2009 from Missouri CPAs

The Missouri Society of CPAs (www.mocpa.org) is the largest professional group dedicated to advancing certified public accountants in Missouri.

Stay Rich Forever & Ever with Ed Slott on WMFE-TV!

Question: Are you more likely to be audited if you file online?

I was told that if you file your taxes online in canada you have a much larger risk of being audited. Apparently its a trend.

Answer: They pick a small percentage of those who file online and ask to see their supporting receipts. But this is *not* the same as being audited – if you did a paper return, you’d have to mail in the receipts. They just want to make sure people actually have the receipts they are claiming.

The audit rate is probably about the same.

BUSINESS WIRE: Catalyst Recognizes Initiatives at Campbell Soup Company, Deloitte, Royal Bank of Canada, and Telstra …

MITTEILUNG UEBERMITTELT VON BUSINESS WIRE. FUER DEN INHALT IST ALLEIN DAS BERICHTENDE UNTERNEHMEN VERANTWORTLICH.

Tax tips from the Internal revenue service

Two-party system – and a ‘third force’?

The two-party system is a step towards the further maturity of the democratic status of a country. But it will not automatically solve the problems facing the nation, says Jeyakumar Devaraj.

Gandhi and racism

The UMCOR Hotline for February 2, 2010

United Methodist Committee on Relief (UMCOR) – USA In Today’s Hotline: Read how UMCOR is responding to needs around the world: HAITI: Earthquake Recovery Update UMCOR: Pizza Pies for Haiti EVENT: …

30 Little Known Facts about America