In today's Wall Street Journal, Is "Friending" in Your Future? Better Pay Your Taxes First, by Laura Saunders:
Tax deadbeats are finding someone actually reads their MySpace and Facebook postings: the taxman. State revenue agents have begun nabbing scofflaws by mining information posted on social-networking Web sites, from relocation announcements to professional profiles to financial boasts. ...
An IRS spokesman declined to say whether its agents use social-networking sites to pursue delinquent taxes or assist audits.
There are limits to what state agents can do on the Web. In Nebraska, agents are only allowed to use information that is publicly available online. So, MySpace ... tends to work best because its users often post more public information than do those of sites like Facebo. ... The default settings for adults on MySpace create a public profile, while the default settings on Facebook create a profile only viewable by an approved list of friends. "Agents are not allowed to 'friend' someone using false information"
Think about your posts people......
John R. Dundon, EA - www.1040.com/jd - Taxpayer Advocate - Enrolled with the United States Department of Treasury to Practice before the IRS - Under contract with the United States Department of Treasury as a Certified ITIN Acceptance Agent - Direct phone # 720-234-1177
Friday, August 28, 2009
Wednesday, August 26, 2009
YouTube feature - IRS Recovery Tax Credits
The Internal Revenue Service announced the availability of video and audio products to help taxpayers take full advantage of the 2009 tax provisions in the American Recovery and Reinvestment Act.
The IRS has launched a YouTube video site and an iTunes podcast site to better serve taxpayers.
People can visit the video site at www.youtube.com/irsvideos to view information about the Recovery, tax tips and how-to videos. These videos will be in English, Spanish, American Sign Language and other languages.
The YouTube focus will be on the provisions of the American Recovery and Reinvestment Act. Videos will highlight the $8,000 first-time homebuyer’s credit for those who purchase a house this year, the sales or excise tax deduction on new car purchases and the expanded credits for education and energy conservation.
The IRS YouTube channel will debut with seven Recovery videos in English and ASL and eight in Spanish. Also, included will be a video on using the IRS Withholding Calculator. Many workers received the Making Work Pay tax credit in April through their tax withholding at work. However, people who have more than one job or working spouses should especially check their withholding to ensure neither too much nor too little is being withheld. People can use the calculator to help determine if they should make adjustments.
People can visit the audio site at iTunes to listen to IRS podcasts about ARRA tax credits. People without an iTunes account can hear those same podcasts, in English and Spanish, on IRS.gov’s Multimedia Center.
John R. Dundon, EA - www.1040.com/jd - Taxpayer Advocate - Enrolled with the United States Department of Treasury to Practice before the IRS - Under contract with the United States Department of Treasury as a Certified ITIN Acceptance Agent - Direct phone # 720-234-1177
The IRS has launched a YouTube video site and an iTunes podcast site to better serve taxpayers.
People can visit the video site at www.youtube.com/irsvideos to view information about the Recovery, tax tips and how-to videos. These videos will be in English, Spanish, American Sign Language and other languages.
The YouTube focus will be on the provisions of the American Recovery and Reinvestment Act. Videos will highlight the $8,000 first-time homebuyer’s credit for those who purchase a house this year, the sales or excise tax deduction on new car purchases and the expanded credits for education and energy conservation.
The IRS YouTube channel will debut with seven Recovery videos in English and ASL and eight in Spanish. Also, included will be a video on using the IRS Withholding Calculator. Many workers received the Making Work Pay tax credit in April through their tax withholding at work. However, people who have more than one job or working spouses should especially check their withholding to ensure neither too much nor too little is being withheld. People can use the calculator to help determine if they should make adjustments.
People can visit the audio site at iTunes to listen to IRS podcasts about ARRA tax credits. People without an iTunes account can hear those same podcasts, in English and Spanish, on IRS.gov’s Multimedia Center.
John R. Dundon, EA - www.1040.com/jd - Taxpayer Advocate - Enrolled with the United States Department of Treasury to Practice before the IRS - Under contract with the United States Department of Treasury as a Certified ITIN Acceptance Agent - Direct phone # 720-234-1177
Tuesday, August 18, 2009
American Opportunity credit (a.k.a. the modified Hope credit)
The Lifetime Learning credit and tuition and fees deduction is phased out when Adjusted Gross Income is over $135,000 for married taxpayers filing a joint tax return. However there is another credit or deduction available in tax years 2009/10 for tuition and fees?
If AGI is in excess of $135,000 tax payers may qualify for the American Opportunity credit (a.k.a. the modified Hope credit) for tax year 2009 and 2010. The credit is available for married taxpayers with modified AGI of less than $180,000, with the phase out beginning at $160,000.
The tuition must be paid for a student that is in the first four years of post-secondary education, and otherwise meets the requirements for the Hope scholarship credit under §25A [§25A(i)].
Tax payers can claim a credit of up to $2,500 per student.
John R. Dundon, EA - www.1040.com/jd - Taxpayer Advocate - Enrolled with the United States Department of Treasury to Practice before the IRS - Direct phone # 720-234-1177
If AGI is in excess of $135,000 tax payers may qualify for the American Opportunity credit (a.k.a. the modified Hope credit) for tax year 2009 and 2010. The credit is available for married taxpayers with modified AGI of less than $180,000, with the phase out beginning at $160,000.
The tuition must be paid for a student that is in the first four years of post-secondary education, and otherwise meets the requirements for the Hope scholarship credit under §25A [§25A(i)].
Tax payers can claim a credit of up to $2,500 per student.
John R. Dundon, EA - www.1040.com/jd - Taxpayer Advocate - Enrolled with the United States Department of Treasury to Practice before the IRS - Direct phone # 720-234-1177
Tuesday, August 4, 2009
IRS Seeks Your Input on Preparer Registration
The IRS invites the public to contribute ideas as part of an effort to ensure high performance standards for all tax preparers. The Service is seeking comments from taxpayers on how to ensure that return preparers meet both uniform and high ethical standards of conduct and how the return preparer industry can help increase taxpayer compliance. These comments will assist the IRS in developing a comprehensive set of recommendations on return preparer performance standards by the end of 2009.
In Notice 2009-60, the IRS has made the call for public comments to help guarantee that all interested individuals and entities have the opportunity to contribute ideas.
Written comments must be received by August 31, 2009.
They should be submitted to:
CCPA:LPD:PR (Notice 2009-60)Room 5203
Internal Revenue Service
P.O. Box 7604Ben Franklin Station
Washington, D.C. 20044
Comments may also be e-mailed to: Notice.Comments@irscounsel.treas.gov
Include "Notice 2009-60" in the subject line of any e-mail messages.
John R. Dundon, EA - www.1040.com/jd - Taxpayer Advocate - Enrolled with the United States Department of Treasury to Practice before the IRS - Direct phone # 720-234-1177
In Notice 2009-60, the IRS has made the call for public comments to help guarantee that all interested individuals and entities have the opportunity to contribute ideas.
Written comments must be received by August 31, 2009.
They should be submitted to:
CCPA:LPD:PR (Notice 2009-60)Room 5203
Internal Revenue Service
P.O. Box 7604Ben Franklin Station
Washington, D.C. 20044
Comments may also be e-mailed to: Notice.Comments@irscounsel.treas.gov
Include "Notice 2009-60" in the subject line of any e-mail messages.
John R. Dundon, EA - www.1040.com/jd - Taxpayer Advocate - Enrolled with the United States Department of Treasury to Practice before the IRS - Direct phone # 720-234-1177
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