Tax news February 2013

Tax

IRS Intensifies National Crackdown on Identity Theft

Continuing a year-long enforcement push against refund fraud and identity theft, the IRS announced the results of a massive national sweep targeting identity theft suspects in thirty-two states and Puerto Rico, involving 215 cities.
Tax

Ten Things To Do as a Tax Return Preparer

Now that we've entered the 2012 tax filing season, the IRS has posted "Ten Tips to Help You Choose a Tax Preparer" on its website. This new online guidance gives taxpayers insights into choosing a qualified professional to prepare their returns.
Tax

Court Upholds Injunction; IRS Revives PTIN System

On February 1, the District Court for the District of Columbia, which had enjoined the IRS from enforcing its new regulatory schemes, modified its order to clarify that the IRS can continue to operate the system requiring PTINs.
Tax

Crime Watch: February 5, 2013

Six people were sentenced for a nationwide scheme that caused the filing of tax returns for at least 180 clients from thirty different states, requesting more than $160 million in fraudulent tax refunds.
Tax

IRS Adds Tumblr to Its Growing Lineup of Social Media Platforms

The IRS is reaching out to taxpayers with a growing array of social media platforms in order to deliver more timely information to filers and preparers. Its latest is Tumblr, which lets web browsers, smartphones, tablets, or desktops, access and share text, photos, videos, and podcasts.
Tax

IRS Delays Accepting Returns That Include 31 Types of Forms

The IRS announced January 28, 2013, that it won't accept returns for processing that include Form 8863, Education Credits, until mid-February, or two weeks after the 2013 tax filing season begins. It’s one of many forms currently unavailable.
Tax

Education Credit or Deduction? Read between the Lines

The American Taxpayer Relief Act has officially restored and extended several tax breaks relating to higher education. Should your clients claim a higher education tax credit or a tuition deduction for 2012? The answer? It depends.
Tax

IRS Delays Accepting Returns That Include 31 Types of Forms

The IRS announced January 28, 2013, that it won't accept returns for processing that include Form 8863, Education Credits, until mid-February, or two weeks after the 2013 tax filing season begins. It’s one of many forms currently unavailable.
Tax

More of Lindsay Lohan's "Believe It or Not" Tax Life

Not even George Lucas could put together a story as unbelievable as Lindsay Lohan's real life. The drama, the self-destructive antics, and the financial devastation go on and on and on with no end in sight.
Tax

Free Spreadsheet-Based Form 1040 Available for 2012 Tax Year

It's not just the IRS that's been madly updating forms for the 2012 filing season. Right on schedule, Glenn Reeves of Kansas has released his sixteenth spreadsheet-based version of the US Individual Tax Return, commonly known as Form 1040.

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