The IRS Audit Blog

Posts Tagged ‘taxes,’

Question: www.IRS.gov?

Can I get 2005 form 1040. (last years) n the internet?

Answer: As a matter of fact you can.. here is the address…

http://www.irs.gov/pub/irs-prior/f1040–2005.pdf

If you need additional 2005 forms just go to the IRS website and put the form and year in the search. Good Luck!

2010 donations end soon

In this season of giving, you may have visions of plum tax deductions dancing in your head. Let’s be honest — sometimes we give because it’s a good cause or just the right thing to do. But sometimes it’s because we look at the calendar and realize the year is almost over and we need some more write-offs.

Tips from the IRS-All about IRS.gov

Question: Why did the IRS send me publications?

Today I received in the mail Pub 939 General Rule for Pensions & Annuities & Pub 557 Tax-Exempt Status for Your Organization.

I do receive annutant pay after my husband passed but he passed
in ’07 why am I getting this now?
& Why the tax exempt org one?

Answer: because your preparer made your taxes out showing the annuity in it. You will also get 1040 etc

This is a Center for Policy Innovation Discussion Paper On Regulation

Published on February 17, 2011 by Robert Moffit, Ph.D. Center for Policy Innovation Discussion Paper #1

Churches are Illegal if 501c3 Non Profit Tax Exempt

Question: Underpayment tax penalty in 2007 and 2008 estimated tax??

We had a one-time situation for our 2007 taxes which led to an underpayment tax penalty and we were given forms for our 2008 estimated tax payments (above our normal deductions). If we know for a fact that we will not be in the same situation for 2008, can we just not make those estimated payments? Are they just guides or will the IRS actually expect those estimated payments and penalize us if we do not?

Answer: No! The ES coupons are automatically generated by the tax software and assumes that your income will be the same. If your income is less, you won’t owe the taxes and don’t need to make ES payments. Your tax preparer probably just included them with your tax return stuff. (We sometime do that too as a precaution.)

The rule to be “penalty proof” for 2008 is make sure you have paid/withheld 100% of of the 2007 liability or 90% of the 2008 liability. http://www.irs.gov/taxtopics/tc306.html

Two sentenced for income tax evasion

A local businessman and his wife were recently sentenced in U.S. District Court for income tax evasion.According to information provided by the U.S. Department of Justice, Albert Berrettini Jr., 59, and Mary Ann Berrettini, 60, were each convicted of f

Self Employment IRS Income Tax Rate Information & Help 2009, 2010

Question: I need Instructions for IRS Form 1040X?

I need to file a Form 1040X to get a refund of my taxes from 2006 but the form refers to questions in the booklet which I do not have. Any help would be greatly appreciated.

Answer: All forms and instructions are available for download at:

www.irs.gov

Brian J. O’Connor: A web of unclaimed cash

The state of Michigan is shortening the amount of time before it grabs your unclaimed cash from dormant bank accounts, old utility or rental deposits, uncashed paychecks and the like.

How to Complete a 1040EZ Tax Form : 1040EZ Tax Form Overview

Question: Way to verify if an IRS tax audit was performed, and the outcome of that audit?

If a person did not submit their taxes for multiple years and and they were reported – is there a way to verify that the audit was done?

Also, if the person moved since the initiation of the reporting to the IRS, does any action need to take place? The person has maintained a job in the public workforce over the years, including the present time.

Thank you!

Answer: If someone doesn’t submit taxes, and is required to, they can be charged with tax evasion. If the IRS performs an audit, they will notify the taxpayer in writing of the audit, and will also notify them of the outcome.

If the person moved, it’s unlikely that any action will be needed. The IRS updates it’s databases frequently by using a variety of data including US Postal Service Change of Address forms, Social Security Records, Employment Data, etc.

You can always call the IRS tax payer hotlines at:
Telephone Assistance for Individuals:
Toll-Free, 1-800-829-1040
Hours of Operation: Monday – Friday, 7:00 a.m. – 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).

Telephone Assistance for Businesses:
Toll-Free, 1-800-829-4933
Hours of Operation: Monday – Friday, 7:00 a.m. – 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).

you can also contact your local IRS office and request a meeting to discuss your questions. Local offices can be found at:

http://www.irs.gov/localcontacts/index.html

IRS Finalises Disclosure Of Uncertain Tax Positions,

United States Internal Revenue Service Commissioner, Doug Shulman, in a speech to the American Bar Association in Toronto, Canada, focused on the increased information flow that is expected to arise out of the new system for the disclosure of uncertain tax positions (UTPs).

How to Avoid an IRS Tax Audit : How to Report Business Losses on Schedule C Tax Form