In his recent State of the Union Address, President Obama introduced America to MyRA (or, “My Retirement Account”) for people who lack employer-sponsored retirement plans. He signed a presidential memorandum…
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Cancellation of debt is an issue that we see increasingly often while preparing tax returns and is something that every taxpayer should understand. Any time there is a short sale,…
The IRS offices and call centers are closed! But don’t get excited yet… it’s not going to be a tax holiday. If you call the IRS, you’ll hear the following…
The Internal Revenue Service has released information that affects filers who intend to claim education credits. According to their latest Newswire issue, the IRS will not be able to accept…
Last Thursday, President Obama stood before a joint session of Congress and called on both parties to pass his new jobs bill and pass it quickly. He has stated that…
About 20,000 individuals and 24,000 businesses have been randomly chosen and will soon get letters from the IRS. Don’t panic, these are not collection letters. These IRS surveys will help them…
What’s the difference between a delinquent taxpayer and the IRS? Delinquent taxes are due right away, but the IRS now has a 16 week waiting period to even process most…
If you have a financial interest in a foreign bank account, you should be familiar with filing Form TD F 90-22.1. Regulations regarding this form have changed as recently as…
The IRS has released new statistics on audits for 2010 and your chance for an audit is the highest it has been since 1997. For individual returns, 1.11% of all…
Florida has built in a system where the minimum wage is to be adjusted with changes in cost of living. This has been true since an amendment was added to…
