Is April 18th really the last day to file taxes this year? Can we start on 24 January?
Tag Archives: IRS
Get out of Jail card? From the IRS?
Do you owe the IRS money for TY 2020 or 2021? Well, start getting ready to pay those bills- but the penalties and interest for those failures may not come due.
It’s really happening!
So, is this a promise being kept or a follow-up to a threat?
The IRS now plans- in 2024, to offer a “Direct File” program that really is a direct file. With a test base of 13 states, the IRS will invite taxpayers to file their taxes using software provided by the IRS. The software will be in English and Spanish, working on computers and mobile phones.
Money, money, money!
Oh, I know this pisses off the GOP something fierce.
But, then, again, they seem to have decided that logic no longer applies to their rhetoric.
IRS gets foiled again
Geez. You have to wonder sometimes how these folks got elected.
The House just took back a bunch of money that was appropriated to the IRS to improve operations and effect proper tax audits. And, these dorks claim the claw-back will help balance the budget.
The IRS makes it easier to respond!
I hope most of you have not been bamboozled by the GOP claims that the new funds we (that means the budget) have provided the IRS have only on purpose. And that was purported to be to hound the general (read lower half or 60%) population taxpayer. Sorry, folks, nothing could be further from the truth.
Pipe Dream- or First Step?
Here’s something else that was in that tax bill. One I kind of glossed over.
And, I can guarantee that this provision- which is only a feasibility determination- if the IRS elects to proceed, there will be a LOT of screaming and yelling. Not from me- I’m all for it. But, Intuit (aka Turbotax), Jackson Hewitt, H&R Block and a slew of other tax preparers are clearly not in favor of this idea at all.
Inflation Reduction Act- Summary of Provisions (Slideshare)
IRS changes with the Inflation Reduction Act (sic)
So, let’s debunk some of the BS that the GOP has claiming. The IRS certainly isn’t adding 87,000 armed agents. It isn’t even adding 87,000 agents. In fact, it’s not even adding 87,000 employees- unless one is looking at a ten year time period.
Continue reading IRS changes with the Inflation Reduction Act (sic)
IRA to Charity- Benefits and Pitfalls
It’s become vogue for our wealthier seniors (those whose finances do not rely on the need for IRA distributions) to make qualified charitable distributions. That is when all or part of the annual RMD (required minimum distribution) is funneled directly to a charity- without once taking possession of the funds. The funds that are directly channeled do not count as part of the donor’s taxable income.