Well the IRS has announced that tax season will officially open on January 20, 2015. That is the date the service will start accepting efile and paper returns for processing. See this update in Accounting Today by Roger Russell for more details: http://www.accountingtoday.com/news/irs-watch/tax-season-to-start-january-20-73151-1.html?utm_campaign=daily-dec%2030%202014&utm_medium=email&utm_source=newsletter&ET=webcpa%3Ae3570730%3A2498807a%3A&st=email As this article says, there is no advantage to filing paper returns early to try and get refunds quicker; efiling remains the most efficient and safe method to file your returns. Since Congress and the President actually got the tax extender bill into law by December 19, there will be no delay for the IRS processing this year. Just remember you may not be able to file until you get all your tax documents, so even though the return can be processed by January 20 doesn’t mean you can file by then. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
CPA Tax Musings: BBB says IRS scam is one of the biggest of the year
The Better Business Bureau of West Virginia is commenting that the IRS telephone scam is the biggest scam of the year. This has to do with someone calling taxpayers, claiming they owe money to the IRS, then trying to get them to settle using a money order ETF transfer service. If you hang up, they call back and threaten to send the police or sheriff to your house. See this article by Nadine Maeser for some more info: http://www.wdbj7.com/news/local/bbb-says-irs-scam-is-one-of-the-biggest-of-the-year/30420066#.VJ_tBauei6o.twitter I had about three tax clients and an enrolled agent I know receive these phone calls (one actually gave a return phone number to call, which was always busy; another when asked actually sent them a written request, but it looked extremely funny.) Just remember that in all cases the IRS doesn’t ask for money over the phone. The only time they will call you is to schedule an audit of your return after sending you a written request or return a phone call. So keep your guard up and above all, don’t send money! There is a tax scam area on the IRS website that details what to do: http://www.irs.gov/uac/Report-Phishing For financial, accounting and tax musings, You can count [...]
Burbank CPA Musings: 5 things to do now to increase your tax refund
There are some last minute items you can do to cut your taxes and refund additional money. Here is a list of five that could save some you some cash. See this list compiled by Erika Rawes in Cheat Sheet through USA Today to get some help: http://www.usatoday.com/story/money/personalfinance/2014/12/21/cheat-sheet-tax-refund/20627011/ This list is worth a look to see if you can reduce your tax liability this year and get some tax dollars back. There may be more things you can do before year end to cut your taxes. Call or email me and maybe we can use some of these items to get a bigger refund from the IRS and your state. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa