IRS News

EIC Scam Alert!

Warning!! In 2010 Obama signed the Improper Payments Elimination and Recovery Act and then in 2012 he signed the Improper Payments Elimination and Recovery Improvement Act . These Acts have tasked the IRS to get control of rampant fraud taking place among Earned Income Tax Credit filers and preparers. Since its inception individuals have tried …

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Understanding The Obama Care Individual Shared Responsibility Payments?

Beginning in 2014, the individual shared responsibility provision of the Affordable Care Act kicked in requireing each individual to: Maintain a minimum level of health care coverage – known as minimum essential coverage, or Qualify for an exemption, or Make an individual shared responsibility payment when filing their federal income tax returns. Minimum essential coverage …

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Are You Affected By Obama Care AKA The Affordable Health Care Act?

Obama Care has within it numerous different taxes. However everyone one is not affected the same. Let's take a look at how Obama Care's taxes affect certain income groups. Obama Care (Affordable Health care Act) Taxes for High Earners and Large Businesses Most of the new taxes are on what on so called high end …

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