taxes

Sequester Caused IRS To Close On May 24, Four More Days To Come

Due to the current budget situation, including the sequester, all IRS operations were closed May 24 and they will also be closed on June 14, July 5, July 22 and Aug. 30, 2013. This means that all IRS offices, including all toll-free hotlines, the Taxpayer Advocate Service and the agency’s nearly 400 taxpayer assistance centers …

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Need To File An Extension? Five Things You Need To Know First

The April 15 tax-filing deadline is fast approaching. Some taxpayers may find that they need more time to file their tax returns. If you need extra time, you can get an automatic six-month extension from the IRS.     Here are five important things you need to know about filing an extension: 1. Extra time to …

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New Notices Related to Form 1099-K

The IRS uses third-party information reporting on forms in the 1099 series to increase voluntary compliance and improve collections. Beginning in 2011, legislation requires reporting of income in two areas: payment card (credit, debit and certain electronic transactions) and securities basis reporting. If you receive a letter or notice from the IRS, it will explain …

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