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Next IRS Nationwide Tax Forum Is Set for National Harbor

August 4, 2014

Clipart courtesy of Microsoft Word Article reprinted courtesy of www.IRS.gov WASHINGTON The next 2014 IRS Nationwide Tax Forum will be held at National Harbor in Maryland near Washington, D.C., and the IRS invites enrolled agents, certified public accountants, certified financial planners and other tax professionals to attend. Those who sign up by the pre-registration date…

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IRS Releases the “Dirty Dozen” Tax Scams for 2014; Identity Theft, Phone Scams Lead List

July 31, 2014

Clipart courtesy of Microsoft Word and Article reprinted courtesy of www.IRS.gov WASHINGTON — The Internal Revenue Service today issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen…

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PHISHING

July 30, 2014

Clipart courtesy of Microsoft Word and Article reprinted courtesy of www.irs.gov Don’t Fall for Phony IRS Websites The IRS warns consumers about a new tax scam that uses a website that mimics the IRS e-Services online registration page. ‪The actual IRS e-Services page offers web-based products for tax preparers, not the general public. The phony…

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IRA and Retirement Plan Limits for 2014

July 28, 2014

Clipart courtesy of Microsoft Word Article reprinted courtesy of Broadridge/Forefield LPL Financial IRA contribution limits The maximum amount you can contribute to a traditional IRA or Roth IRA in 2014 remains unchanged at $5,500 (or 100% of your earned income, if less). The maximum catch-up contribution for those age 50 or older in 2014 is…

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Tax Court Says One Tax-Free Rollover per Year Means Just That

July 23, 2014

Clipart courtesy of Microsoft Word Article reprinted courtesy of Broadridge/Forefield LPL Financial Background The Internal Revenue Code says that if you receive a distribution from an IRA, you can’t make a tax-free (60-day) rollover into another IRA if you’ve already completed a tax-free rollover within the previous 12 months. The long-standing position of the IRS,…

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National Taxpayer Advocate Identifies Priority Areas and Challenges in Mid-Year Report to Congress

July 17, 2014

Clipart courtesy of Microsoft Word   WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her statutorily mandated mid-year report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year. The report emphasizes the importance of taking concrete steps to give meaning to the recently…

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IRS.gov has information about the health care law and its effect on your taxes

July 16, 2014

Clipart courtesy of Microsoft Word IRS Health Care Tax Tip 2014-14, Jul. 16, 2014 There is a lot of information in the news and online about the health care law and its effect on your taxes. For the most current answers to questions you may have, visit IRS.gov/aca. From the individual shared responsibility provision to…

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New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify

July 9, 2014

Clipart courtesy of Microsoft Word WASHINGTON — The Internal Revenue Service today introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily.   “This is a common-sense approach that will help reduce lengthy processing delays for small tax-exempt groups and ultimately larger organizations as well,” said IRS Commissioner…

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Unused ITINS to Expire After Five Years; New Uniform Policy Eases Burden on Taxpayers, Protects ITIN Integrity

July 7, 2014

Clipart courtesy of Microsoft Word   WASHINGTON — Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years, the Internal Revenue Service announced today. To give all interested parties time to adjust and allow the IRS to reprogram its systems, the IRS will not begin…

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