Irs

New Irs Ruling On Floating Casinos

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With Beginning Of Electronic Filing, Beshear Warns Kentuckians About Irs, Tax-related Identity Scams

... Review the status of your refund by visiting the IRS’s Where’s My Refund? website or take advantage of the IRS 2 Go smartphone app. Remember, by law, the IRS must hold refunds claiming the Earned Income Tax Credit and/or the Additional Child Tax Credit until Feb. 15. The first day the Kentucky Department of Revenue will issue refunds is also Feb. 15; click here to visit the state refund site. Victims of tax fraud may receive a mailed letter from the IRS or the victim may discover the fraud when they attempt to file their return. Victims need to act quickly and follow these recommended steps. Contact the IRS. To contact the IRS directly call, 800.908.4490. Contact the Kentucky Department of Revenue at 502.564.4581. · Follow the Attorney General’s Identity Theft Kit. Learn how to obtain an incident report of identity theft from your local law enforcement agency, place an immediate and free fraud alert on your credit file, order and review your credit reports, and create a comprehensive recovery action plan. For additional information, visit the Office of the Attorney General’s website at ag.ky.gov ; the ...

Trump Nominee Suggests Irs Cybersecurity And Staffing Boosts

... also very concerned about the lack of first-rate technology at the IRS and the issue of making sure we protect the American public's privacy when they give information to the IRS. and also customer service for the many hard-working Americans that are paying taxes.". The agency has had its share of problems. In June 2016, the IRS retired a Web-based tool for obtaining PINs - which taxpayers used to file tax returns electronically - because of repeated security attacks. And in 2015, over 700,000 taxpayers were at risk of having their personal information breached through the agency's "Get Transcript" application. Mnuchin brought up the need for upgrades of IRS technology and cybersecurity several times in the hearing, while Republican senators focused instead on the broader need for tax reform and other topics. Democratic ...

This Proves Trump’s Irs Audit Tax Excuse Was Bunch Of B.s

... on multiple occasions, “I will absolutely give my return, but I’m being audited now for two or three years, so I can’t do it until the audit is finished, obviously.”. Sadly, the only thing that is obvious now is that the IRS audit excuse was just a bunch of B. S. Now, I don’t know if the claim that he is under audit is a lie (I am once again giving him the benefit of the doubt that it’s very plausible that he is, though he weirdly won’t release his audit letter.) However, what is an apparent lie is that Trump will “absolutely” release his returns once the audit is over. Here’s the proof that he has absolutely no plans of following through on that promise. On Sunday’s edition of This Week , when George Stephanopoulos pressed Trump advisor Kellyanne Conway on this very issue she replied, “The White House response is that he’s not going to release his tax returns. We litigated this all through the election. People didn’t care, they voted for him.”  So there you ...

Irs Proposes Changes To Rules For Dependents

... regulations would provide that, if a child meets the definition of “qualifying child” for more than one taxpayer, and the child is not treated as a qualifying child of one of the taxpayers under the tiebreaker rules, then the child is also not treated as a qualifying child for purposes of the EITC. Therefore, if otherwise eligible, that taxpayer could claim the EITC for childless taxpayers. Dependency rules. The proposed regulations would update the regulations to address several aspects of the dependency rules that were modified by WFTRA. These include. The Sec. 152(c)(2) relationship test. The definition of “principal place of abode” and “temporary absence” for purposes of the residency test. The definition of “student” for the age test. The definition of “support” for the support test. The treatment of noncitizen adopted children. The calculation of adjusted gross income on a joint return for purposes of ...

Exiting Obama Doj Tried To Kill Irs Targeting Lawsuit

... Engelbrecht said. “The case hasn’t been dismissed. The appeals court made that clear.”. A spokesman for the IRS declined to comment, citing the agency’s policy regarding pending litigation. Attorneys for True the Vote argue in a document filed last week that the IRS is ignoring the ruling of the appeals court that reinstated the case after the trial judge dismissed it. They also argue that the IRS has done nothing to demonstrate that the voting-integrity group will not be targeted again except to submit an inspector general’s report that makes no specific mention of True the Vote. That inspector general’s report, in fact — while praising reforms implemented by the IRS — pointed to a number of remaining deficiencies. “Their own evidence that was entered into court states that this targeting could happen again,” said Logan Churchwell, a spokesman for the Public Interest Legal Foundation, one of the firms representing True the Vote. The case will carry over from the Obama Justice Department to Trump’s, but ...

Older Adults Warned About Irs Scam

... IRS scam. January 23, 2017, 4:46 pm. Click to share on Pinterest (Opens in new window). (Photo: WKRN). NASHVILLE, Tenn. (WKRN)  – The IRS and advocates for older adults are warning people about IRS scams that pop up during tax season. In one of the latest scams, a letter is sent purportedly from the IRS telling someone there is a problem with their income taxes because of the Affordable Care Act. The scam letter claims you owe taxes related to the Affordable Care Act from the 2015 tax year. The notice is labeled “CP 2000” and  says to send payment to the IRS care of an Austin, Texas, post office. “The scam artists have been busy,” IRS Spokesman Mark Green said. “This is the time of the year where they send voicemails, contact you through social media or text message saying you owe money.”. He continued, “We strongly encourage people to hang up if you get a call from any individual saying you owe money because it is a scam.”. The Council on Aging of Middle Tennessee has received calls from older adults who have been ...

Steven Mnuchin Is Right—the Irs Is Under-funded

... concerned about the staffing of the IRS. That is an important part of fixing the gap.”. As Vox’s Timothy Lee reports , providing adequate staffing and resources to the IRS is a smart idea. It would enable the agency to collect more revenue and perhaps deal more effectively with concerns about technology, cyber-security, and identity fraud. It would also address another problem I’ve written about in the past: Thanks to the welfare reforms of 1996 and changes in the social safety net, the IRS is increasingly being asked to fight a tax war on poverty , a role it was not designed for and is ill-equipped for at present. A new paper offers suggestions for helping the IRS better administer social benefit __link__. The Earned Income Tax Credit has become the largest government cash transfer program for low-income families with kids — approximately 50 million people in this country now receive benefits through the EITC or Child Tax Credit. The administration of safety net benefits through the tax code, meanwhile, isn’t ...

Pay The Irs Late? At Some Companies, It's A Strategic Move

... if you've piled up unpaid taxes. Businesses that want to pay late still must either file a return on time or get an extension of the filing deadline. The failure-to-file penalty is 5 percent of the unpaid taxes for each month or part of a month that the return is late, up to a maximum of 25 percent. There is interest on the unpaid tax, an amount linked to the federal short-term interest rates and set each quarter; the current rate is 4 percent, 3 percent for a corporation. The late payment penalty is milder at half a percent per month or part of a month in addition to the interest charges. But beware — interest paid to the IRS is not a tax deduction, unlike the interest paid on a bank loan. Taylor, who had gotten an extension, paid the balance of his company's tax bill in October. As it turned out, he didn't owe the government anything for the late payment. Under the tax law, if a company or individual pays at least 90 percent of the amount of tax they paid in the previous year, there's no added cost on the balance due the government. Bill Seavey chooses to pay late because the spring is one of the busiest seasons at his bed and breakfast in Cambria, ...