Gary W Lundgren, EA

12/01/2023

The IRS realsed this video today (Dec 1, 2023) in regard to Tax Scams and how to not fall victim to them.

This is Tax Scam Season now.

If in doubt about whether or not something is a scam, review this video and/or contact your tax professional for more information and help.

www.TaxBulldog.com

Thieves are constantly working to steal people’s identity and personal info so they can use it to fraudulently file tax returns and claim refund money that i...

11/09/2023

Just making some minor tweaks to my FB Banner page. 🙂

08/11/2023

Aug 7 thru 10 attending the 2023 IRS Tax Forum in National Harbor MD (DC area) staying at Ga***rd Resort hotel. Great information and networking. See .

02/28/2023

Updated IRS Mileage Rates Posted on my website. Rates for Business, Medical/Moving, and Charity. Increased for 2023.

Covers 1990 thru 2023. 33 yrs! Older yrs are for hysterical or historical purposes. 🤣

chrome-extensio://efaidnbmnnnibpcajpcglclefindmkaj/http://taxbulldog.com/resourcespubs/IRS%20Mlg%20Rates.pdf

01/08/2023

THE 2023 TAX SEASON (filing 2022 tax returns) BEGINS ON JAN 25, 2023.

The 2022 tax filing deadline is: Apr 17, 2023. This is due to the the normal filing date Apri 15, falling on a Weekeend/Holiday.

The 2022 Tax Filing Extension deadline falls on Oct 16, 2023, due to the the normal filing of Oct 15, date falling on a Weekeend/Holiday.

Soon, if not already, your tax preparer will be sending you a Tax Organizer. The purpose of the Tax Organizer is to help you organize your tax information so you don't forget any items of income to be reported, nor any of the many categorie's you may otherwise miss.

Fill this out as completely as possible to avoid costly mistakes. If you have any questions, ask your preparer.

Your preparer can only prepare your return as pefectly as the information your give him/her.

See this video link for an example of completing a Tax Organizer: https://www.youtube.com/watch?v=jdzHsIiNi1I
This is a video from a few yrs ago, but the principals are still the same.

Gary W Lundgren, EA
www.TaxBulldog.com
814-410-2900

10/15/2022

Final Tax Filing Deadline for 2021 Form 1040 Individual Tax Returns

For those who filed an extension of time to file your 2021 Tax Return, Form 1040 series, the deadline to file is Oct 17, 2022 this year. Because Oct 15, 2022 falls on a Saturday the due date is moved to the next business day. Which is Oct 17, 2022 this year. A little redundant here.

This is the last extension for your 2021 tax return. Thereafter late filing penalty and interest may apply if you owe. Late filing penalty is 5% per month or part of a month. It maxes out at 25% after 5 months.

If you do not owe, or are due a refund, then there is No Late Filing Penalty or interest. You must file within 3 yrs of Apr 15, 2022 (which will be Apr 15, 2025) to claim your refund. If you fail to file by the extension deadline, then the extension is invalidated. Hence the 3 yr time limit starts going back to Apr 15. If you do not file for that, your refund is forfeited, and you will not receive it.

Additionally, there is penalty and interest on State returns not filed timely. The rate will vary by State. And as with Federal, if nothing is owed, there’s no penalty.

See more athttp://www.taxbulldog.com/news/Articles_Treatises/2022%20FIlingDL_Oct17.pdf

08/16/2022

IT HAS BEEN IN THE NEWS THAT THE IRS IS HIRING 87,000 AGENTS.

However, the rumors are not all true.

They are filling positions all across the board from phone agents answering calls, processing data, auditors, and field agents. That is to get the IRS back up to speed Since COVID the IRS has been seriously backlogged in processing. At this time, they and several other Federal agemcies, are backlogged 22 months. That creates a disservice for the taxpayer when transactions and data cannot be processed timely.

And No, the new hires, agents, do not carry guns. Only Special Agents in the Criminal Investigation Division carry guns. No others.

According to the Treasury Department, “the resources to modernize the IRS will be used to improve taxpayer services, from answering the phones to improving IT systems – and to crack down on high-income and corporate tax evaders who cost the American people hundreds of billions of dollars each year.”

This is not targeting the middle class.

Previous analyses of the agency have revealed that the IRS needs more employees. National Taxpayer Advocate Erin M. Collins said in her midyear report to Congress, published in June 2022, that many of the challenges the IRS is facing “stem from inadequate staffing, including limited staffing in Submission Processing and telephone call centers.”

In 2021, the IRS had less than 80,000 employees, a decrease of nearly 13% since 2012, according to the agency’s website.

Rettig wrote in his letter that the IRS has “fewer front-line, experienced examiners in the field than at any time since World War II, and fewer employees than at any time since the 1970s.”

“Advances in technology have been helpful but have not kept pace with the ever-increasing responsibilities and challenges facing the IRS,” he said. “As a result, the IRS has for too long been unable to pursue meaningful, impactful examinations of large corporate and high-networth taxpayers to ensure they are paying their fair share.”

For most of us, this is nothing to fear.

See more at www.TaxBulldog.com

Gary W Lundgren, EA
Aug 15, 2022

07/07/2022

The Truth About those TV and Radio Outfits Who Promise
Quick & Easy Deals with the IRS.

Recently the Internal Revenue Service has launched a campaign to let troubled taxpayers know of the games the TV & Radio Outfits play to cheat you out of your money. See the recent IRS Bulletin at

06/10/2022

IRS INCREASED STANDARD MILEAGE RATES FOR MILEAGE INCURRED AFTER JUL 1, 2022

Given the benevolence of the IRS, and realization of horrendous gas costs, the IRS is giving us some relief. Yet, it’s never enough. But it is helpful when we suffer such run away inflation.

62.5 cents per mile for business
22 cents per mile for Medical & Moving
14 cents per mile for Charitable remains the same. (it’ been that for 20 yrs now! It doesn’t pay to be generous.) I guess there needs to be a more gratuitous purpose.

See IRS Announcement 2022-13
https://www.irs.gov/pub/irs-drop/a-22-13.pdf

Jun 10, 2022
By Gary W Lundgren, EA
814-410-2900

www.TaxBulldog.com
www.youtube.com/TaxBulldog

Taxpayer Advocate helping taxpayers resolve personal and business tax issues.Information for taxpayers with tax debt and audit issues to address.I will be pr...