The IRS Audit Blog

Archive for October, 2009

Question: how do I file online with a power of attorney?

I just filed with Taxslayer and my husband is overseas so I have power of attorney papers. I have to send in a signed form 8453-ol to the IRS. It has to have both of our signatures. But He isnt here to sign for it so do i just sign my name and write POA on his line and a copy of the paperwork to them. I know i dont have to file right now but im expecting a baby in a month and could use the return now. Any help would be great.

Answer: first off, the IRS is pretty picky on the POA’s. As long as you guys have a POA that specifically says that you can do taxes (it has to be written out, TAXES, the IRS dosnt care if its a general). If you do not have that you can print out a Form 2848 off of https://www.irs.gov, have him mail it to you with his signature and then you sign it and mail it with your signature. If you need any help go to your legal center on post, where the tax center is and ask them they will be happy to help you, plus they are free.

Orie Goes After Zappala Family On Gaming Interests

During the Senate debate on table games last night, Senator Jane Orie, R-McCandless, took direct aim at the father and sister of District Attorney Stephen Zappala for hiding their compensation in the Pennsylvania Casino Association.

IRS Power of Attorney from irstaxuniversity.com

Question: Is wages,salaries and tips higher than adjusted gross income or is it lower?

IRS Form 1040 – lines 7 + 12 + 18 + Box 14 of IRS Schedule K-1 (Form 1065);

Answer: It depends on whether or not you have a loss or gain on business income,rental income farm income and investment income. It also depends if you have any deductions such as student loan interest ira and such. It can be higher or lower.

So in short if line 12 and 18 are losses,the agi will be lower. If they are gains it can be higher.

Christine EA Master Tax Advisor

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.

http://www.hrblock.com/tax_professionals/christine_wilkins.html

Coming up in the Chesters, Mendhams, Harding and Washington Twp.

THURSDAY, Jan. 7 The Chester Lioness Club will celebrate the new year with a dinner and meeting at 6:30 p.m. in the Lamplighter Restaurant, 190 W. Main St. The speaker, Jill Lattmann, will discuss health tips and easy ways to obtain the seven to 13 servings of fruits and vegetables a day as recommended by the federal government for good health. The public is invited to attend by reservation only …

Schedule D – Excel to TurboTax and TaxCut 4797 6781 IRS

Question: Change of address for my tax return?

I moved to a new address in December of last year (2008) and I want to use my new address for my return. However, my old address is probably still on file with the IRS and I want to e-file my return like I did last year. My question is do I have to send in the form to officially change my address with the IRS before I e-file or can I simply use my new address when I e-file online? I don’t want to run into issues with my refund due to mismatching addresses. I use direct deposit so it’s not an issue of the refund being sent to the wrong address, I just don’t want my refund to be delayed because of the address change. What should I do? Thanks so much!

Answer: No, just by filing your new return, your address on file with the IRS will be updated.

Tax Tips Archive More>>

WASHINGTON — A new rule has expanded to 120 days the time period during which the Internal Revenue Service may share a taxpayer’s tax-return information with third parties, based on a taxpayer’s written disclosure authorization.

Congress Must Change You Love Your Country. Lets Playball!

Projects drew players, federal scrutiny

YONKERS — Even after he had allegedly used bribes to sew up former Councilwoman Sandy Annabi’s vote in support of the controversial $630 million Ridge Hill project, Zehy Jereis was still buttonholing holdout council members to get them on board.

Yankee Stadium sucks more tax payer money like Quinn slushgate

Question: Documentation for the IRS for First-Time Homebuyer Credit?

Fiance and I closed on our house last week. I am in the process of preparing the following IRS forms:
1. 5405- First-Time Homebuyer Credit
2. 1040X- Amended U.S. Individual Income Tax Return

As nothing else has changed in my return for 2008, is there anything else I should include when I send this to the IRS? Might they need some proof that we really bought the home? How do they know?

Answer: In addition to the forms you mention, you should send a copy of the HUD-1 (the closing statement).

The IRS is taking 12-16 weeks to process the amended returns. You can’t e-file the amended return and refunds are only paid by check.

I hope this helps.
Gary

Fix It Up: Stimulus for Home Repairs

If you thought President Obama’s $787 billion economic stimulus package was just for the banks and car companies, you’ve got a nice surprise coming. Part of that package has your name on it. All you have to do to get your piece of the stimulus pie is carry out some energy-saving home

Tips from the IRS – Money in your pocket with first-time homebuyer credit