Top Sources of Accounting & Taxes (TSAT)

03/13/2017

March 15 is coming up. Deadline of business income tax is only 2 more days.

03/24/2016

https://youtu.be/nOt7U23n5lc

Find out how you can protect yourself from identity theft.

03/18/2016

IRS does not call any one for payment.
If you are called for it, hang up!!! Never provide personal info over the phone...
https://youtu.be/OPrFbzMNHb8

The U.S. Treasury Inspector General for Tax Administration urges taxpayers to "just hang up" on scammers who impersonate IRS employees in phone calls that de...

01/27/2015

Don't be fooled by tax scams and schemes. Learn more about the Dirty Dozen.
http://youtu.be/ghQp0DxzY6g

Don't be fooled by tax scams and schemes. Learn more about the Dirty Dozen.

01/27/2015

04/17/2013

IRS Announces Three-Month Filing, Payment Extension Following Boston Marathon Explosions

IR-2013-43, April 16, 2013

WASHINGTON — The Internal Revenue Service today announced a three-month tax filing and payment extension to Boston area taxpayers and others affected by Monday’s explosions.

This relief applies to all individual taxpayers who live in Suffolk County, Mass., including the city of Boston. It also includes victims, their families, first responders, others impacted by this tragedy who live outside Suffolk County and taxpayers whose tax preparers were adversely affected.

“Our hearts go out to the people affected by this tragic event,” said IRS Acting Commissioner Steven T. Miller. “We want victims and others affected by this terrible tragedy to have the time they need to finish their individual tax returns.”

Under the relief announced today, the IRS will issue a notice giving eligible taxpayers until July 15, 2013, to file their 2012 returns and pay any taxes normally due April 15. No filing and payment penalties will be due as long as returns are filed and payments are made by July 15, 2013. By law, interest, currently at the annual rate of 3 percent compounded daily, will still apply to any payments made after the April deadline.

The IRS will automatically provide this extension to anyone living in Suffolk County. If you live in Suffolk County, no further action is necessary by taxpayers to obtain this relief. However, eligible taxpayers living outside Suffolk County can claim this relief by calling 1-866-562-5227 starting Tuesday, April 23, and identifying themselves to the IRS before filing a return or making a payment. Eligible taxpayers who receive penalty notices from the IRS can also call this number to have these penalties abated.

Eligible taxpayers who need more time to file their returns may receive an additional extension to Oct. 15, 2013, by filing Form 4868 by July 15, 2013.

Taxpayers with questions unrelated to the Boston tragedy should visit IRS.gov, or contact the regular IRS toll-free number at 1-800-829-1040.

02/10/2013

Happy Vietnamese New Year to everyone out & in network, from North to South, from Europe to Africa, from middle East to Australia and from America to Asia, and every one form anywhere in the universe. Wish all the best of luck in the year of Snake.

01/15/2013

PROTECT YOURSELF AGAINST FRAUDULENT ACTS
The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.
The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.

What is phishing?
Phishing is a scam typically carried out by unsolicited email and/or websites that pose as legitimate sites and lure unsuspecting victims to provide personal and financial information.

All unsolicited email claiming to be from either the IRS or any other IRS-related components such as the Office of Professional Responsibility or EFTPS, should be reported to [email protected].

However, if you have experienced monetary losses due to an IRS-related incident please file a complaint with the Federal Trade Commission through their Complaint Assistant to make that information available to investigators.


What to do if you receive a suspicious IRS-related communication
If

Then
You receive an email claiming to be from the IRS that contains a request for personal information …

Do not reply.
Do not open any attachments. Attachments may contain malicious code that will infect your computer.
Do not click on any links.
If you clicked on links in a suspicious email or phishing website and entered confidential information, visit our identity protection page.
Forward the email as-is, to us at [email protected].
After you forward the email and/or header information to us, delete the original email message you received.

Note:
Please forward the full original email to us at [email protected]. Do not forward scanned images of printed emails as that strips the email of valuable information only available in the electronic copy.
You discover a website on the Internet that claims to be the IRS but you suspect it is bogus … ... send the URL of the suspicious site to [email protected]. Please add in the subject line of the email, 'Suspicious website'.
You receive a phone call or paper letter via mail from an individual claiming to be the IRS but you suspect they are not an IRS employee …

Phone call:

Ask for a call back number and employee badge number.
Contact the IRS to determine if the caller is an IRS employee with a legitimate need to contact you.
If you determine the person calling you is an IRS employee with a legitimate need to contact you, call them back.

Letter or notice via paper mail:

Contact the IRS to determine if the mail is a legitimate IRS letter.
If it is a legitimate IRS letter, reply if needed.

If caller or party that sent the paper letter is not legitimate, contact the Treasury Inspector General for Tax Administration at 1.800.366.4484.
You receive an unsolicited e-mail or fax, involving a stock or share purchase …
.. and you are a U.S. citizen located in the United States or its territories or a U.S. citizen living abroad.

Complete the appropriate complaint form with the U.S. Securities and Exchange Commission.
Forward email to [email protected].
Please add in the subject line of the email, 'Stock'.
If you are a victim of monetary or identity theft, you may submit a complaint through the FTC Complaint Assistant.
.. and you are not a U.S. citizen and reside outside the United States.

Complete the appropriate complaint form with the U.S. Securities and Exchange Commission.
Contact your securities regulator and file a complaint.
Forward email to [email protected].
Please add in the subject line of the e-mail, 'Stock'.
If you are a victim of monetary or identity theft, you may report your complaint to econsumer.gov.

You receive an unsolicited fax (such as Form W8-BEN) claiming to be from the IRS, requesting personal information … Contact the IRS to determine if the fax is from the IRS.

If you learn the fax is not from the IRS, please send us the information via email at [email protected]. In the subject line of the email, please type the word ‘FAX’.

You receive a text message or Short Message Service (SMS) message claiming to be from the IRS …

Do not reply.
Do not open any attachments. Attachments may contain malicious code that will infect your computer or mobile phone.
Do not click on any links. If you clicked on links in a suspicious SMS and entered confidential information, visit our identity protection page.
Forward the text as-is, to us at 202-552-1226. Note: Standard text messaging rates apply.
If possible, in a separate text, forward the originating number to us at 202-552-1226
After you forward the text, please delete the original text.

You have a tax-related question ...

Note: Do not submit tax-related questions to [email protected].
If you have a tax-related question, unrelated to phishing or identity theft, please contact the IRS.

How to identify phishing email scams claiming to be from the IRS and bogus IRS websites

Sample of phishing emails
First sample of an actual IRS-related phishing e-mail - PDF
Second sample of an actual IRS-related phishing e-mail - PDF
Is it a phishing website posing as the IRS? - PDF
Sample of FAX scam
Sample of recent fax scam requesting EIN - PDF
Are you a victim of Identity Theft?
Contact the Federal Trade Commission
Visit the IRS Identity Theft resource page

The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.

The IRS does not ...

... request detailed personal information through email.
... send any communication requesting your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts.

What to do if you receive a suspicious email message that does not claim to be from the IRS
If

Then
You receive a suspicious phishing email not claiming to be from the IRS ... Forward the email as-is to [email protected].
You receive an email you suspect contains malicious code or a malicious attachment and you HAVE clicked on the link or downloaded the attachment … Visit OnGuardOnline.gov to learn what to do if you suspect you have malware on your computer.
You receive an email you suspect contains malicious code or a malicious attachment and you HAVE NOT clicked on the link or downloaded the attachment … Forward the email to your Internet Service Provider’s abuse department and/or to [email protected].

01/10/2013

Issue Number: Special Edition Tax Tip 2013-01

Inside This Issue

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IRS Plans Jan. 30 Tax Season Opening For 1040 Filers

Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.

The IRS will begin accepting tax returns on that date after updating forms and completing programming and testing of its processing systems. This will reflect the bulk of the late tax law changes enacted Jan. 2. The announcement means that the vast majority of tax filers -- more than 120 million households -- should be able to start filing tax returns starting Jan 30.

The IRS estimates that remaining households will be able to start filing in late February or into March because of the need for more extensive form and processing systems changes. This group includes people claiming residential energy credits, depreciation of property or general business credits. Most of those in this group file more complex tax returns and typically file closer to the April 15 deadline or obtain an extension.

“We have worked hard to open tax season as soon as possible,” IRS Acting Commissioner Steven T. Miller said. “This date ensures we have the time we need to update and test our processing systems.”

The IRS will not process paper tax returns before the anticipated Jan. 30 opening date. There is no advantage to filing on paper before the opening date, and taxpayers will receive their tax refunds much faster by using e-file with direct deposit.

“The best option for taxpayers is to file electronically,” Miller said.

The opening of the filing season follows passage by Congress of an extensive set of tax changes in ATRA on Jan. 1, 2013, with many affecting tax returns for 2012. While the IRS worked to anticipate the late tax law changes as much as possible, the final law required that the IRS update forms and instructions as well as make critical processing system adjustments before it can begin accepting tax returns.

The IRS originally planned to open electronic filing this year on Jan. 22; more than 80 percent of taxpayers filed electronically last year.

Who Can File Starting Jan. 30?

The IRS anticipates that the vast majority of all taxpayers can file starting Jan. 30, regardless of whether they file electronically or on paper. The IRS will be able to accept tax returns affected by the late Alternative Minimum Tax (AMT) patch as well as the three major “extender” provisions for people claiming the state and local sales tax deduction, higher education tuition and fees deduction and educator expenses deduction.

Who Can’t File Until Later?

There are several forms affected by the late legislation that require more extensive programming and testing of IRS systems. The IRS hopes to begin accepting tax returns including these tax forms between late February and into March; a specific date will be announced in the near future.

The key forms that require more extensive programming changes include Form 5695 (Residential Energy Credits), Form 4562 (Depreciation and Amortization) and Form 3800 (General Business Credit). A full listing of the forms that won’t be accepted until later is available on IRS.gov.

As part of this effort, the IRS will be working closely with the tax software industry and tax professional community to minimize delays and ensure as smooth a tax season as possible under the circumstances.

Updated information will be posted on IRS.gov.

01/06/2013

IRS Offers Tax Tips for “The Season of Giving”

IRS Special Edition Tax Tip 2012-15, December 6, 2012

December is traditionally a month for giving generously to charities, friends and family. But it’s also a time that can have a major impact on the tax return you’ll file in the New Year. Here are some “Season of Giving” tips from the IRS covering everything from charity donations to refund planning:

Contribute to Qualified Charities. If you plan to take an itemized charitable deduction on your 2012 tax return, your donation must go to a qualified charity by Dec. 31. Ask the charity about its tax-exempt status. You can also visit IRS.gov and use the Exempt Organizations Select Check tool to check if your favorite charity is a qualified charity. Donations charged to a credit card by Dec. 31 are deductible for 2012, even if you pay the bill in 2013. A gift by check also counts for 2012 as long as you mail it in December. Gifts given to individuals, whether to friends, family or strangers, are not deductible.

What You Can Deduct. You generally can deduct your cash contributions and the fair market value of most property you donate to a qualified charity. Special rules apply to several types of donated property, including clothing or household items, cars and boats.

Keep Records of All Donations. You need to keep a record of any donations you deduct, regardless of the amount. You must have a written record of all cash contributions to claim a deduction. This may include a cancelled check, bank or credit card statement or payroll deduction record. You can also ask the charity for a written statement that shows the charity’s name, contribution date and amount.

Gather Records in a Safe Place. As long as you’re gathering those records for your charitable contributions, it’s a good time to start rounding up documents you will need to file your tax return in 2013. This includes receipts, canceled checks and other documents that support income or deductions you will claim on your tax return. Be sure to store them in a safe place so you can easily access them later when you file your tax return.

Plan Ahead for Major Purchases. If you are making major purchases during the holiday season, don’t base them solely on the expectation of receiving your tax refund before the bills arrive. Many factors can impact the timing of a tax refund. The IRS issues most refunds in less than 21 days after receiving a tax return. However, if your tax return requires additional review, it may take longer to receive your refund.