The IRS Audit Blog

Archive for September, 2009

W.Va. Legislature Not Expected to Address Public Retiree Costs

West Virginia’s Legislature may not tackle the looming problem of public retiree costs this session.

Timbuk 3 – Life Is Hard

Question: What atv is faster and has more bottom and and top end power?

I am 15 years old and i am planning to buy a used atv. I am debating between buying a 2005 yamaha Raptor 660r or a 2006 Polaris Outlaw 500 irs. I heard that they go almost the same speed. Does anyone no which one would be a better choice power wise and performance. Also if u know of anything wrong with either of these machines u could write about that. Thx

Answer: I have always liked the yamaha products best. My buddy has the 660 raptor and loves it. I have the new 700 raptor with tons of trinity upgrades and it will smoke both those atvs thu so it really depends if it is stock or not and what you are really looking for.

Polaris Outlaw Final Project

Question: Economic Stimulus, tax rebate question?

I was supposed to get my rebate directly deposited on the second batch (May 9th). I filed with tax act and it was free so I had no fees deducted and did not have to pay anything, I can not be claimed as a dependent and the stimulus calculator told me the amount that I should receive, so I do qualify for it. I have not received anything yet and the IRS website gives me the ” We are sorry…specific information about your payment is not available at this time”. I called the IRS already and they supposedly sent a request or something to the payment center on my behalf, because they don’t know why I have not received it yet. My question is : has anyone else had this problem? So far, I am the only person I know that was “skipped” during the disbursement period and I am curious as to whether or not there are more people in my same boat…Thanks!

Answer: I read somewhere that not everybody will get their checks on the same schedule.

That people that filed at the last minute might get them later no matter what the schedule says.

I thought only those that filed electronically got them this early. But you probably already know that.

RP Senior Center offers free tax to help for all

You don’t have to be a senior citizen to take advantage of the free tax preparation being offered at Rohnert…

Wealth Management By Call Center??? – Skloff Financial Group

Question: Need help filling out IRS form 1040X in order to get 1st time home buyer credit?

I already e-filed a 1040ez for 2008. Closing on my 1st home 4/24/09. I have filled out form 5045 but can’t figure out 1040X even with IRS’ instructions! Any help is appreciated. I know I have to close on the property first but I just want to be ready to send this stuff out.

Answer: Start at line 10 and continue through 24.

Line 10 = tax bill.
Line 11 = withholding.
Lines 12-14 as appropriate.
Line 15 is housing credit.

Except for 15, columns A and C match. For 15, $0, $X and $x for the three columns.

Do not file the 1040X before you actually close.

Question: Nervous about an IRS letter – help?

My husband got this letter in the mail yesterday. It is Letter number 2797 asking for his assistance updating their records. He is suppose to return it if the address is correct. The return addie is from Cincinnati, OH department of Treasury IRS no PO Box or anything.
It has his SS # on it and an 800 number and person to contact is a customer service rep.
The codes are BOD CODE SB and CP 501
Anyone know what it means?
I know 515 means it is the first letter of many to resolve unpaid taxes, but what is 501?

Answer: Call the IRS number at 1 (800) 829-1040 to confirm that it is a legitimate letter and not a phishing attempt.

Insurer could pay $250,000 in Greene harassment charge

An insurer for the Philadelphia Housing Authority has agreed to pay $250,000 to settle a sexual-harassment claim against executive director Carl R. Greene, but PHA still faces a host of other controversies.