The IRS reminds newlyweds and the recently divorced to make sure names on their tax returns match those registered with Social Security. A mismatch between a name on the tax return and a Social Security number (SSN) could unexpectedly increase a tax bill and reduce the size of any refund. For newlyweds, the tax scenario can begin when the bride says "I do," takes her husband's surname but doesn't let Social Security know about the name change.

The Internal Revenue Service has created a special Web section for taxpayers seeking information about their rights when dealing with the nation's tax agency. The "Taxpayer Rights Corner" can be found at www.irs.gov under the "Tax Info for You" section.The section brings a variety of issues involving taxpayer rights issues into one convenient place. The Taxpayer Rights Corner includes topics ranging from basic taxpayer information to detailed steps on how to get help from the IRS.

The Internal Revenue Service recently announced that employers may exclude parking benefits from employee wages up to a maximum of $180 per month for 2001, a $5 increase from the 2000 ceiling.The announcement came in IRS Revenue Procedure 2001-13.No increase is forecast for the existing exclusion amount of $65 per month for combined transit pass and vanpooling expenses.The Employee Benefits Institute of America, a publishing group that provides guidance on various benefits plans, commented that the $65 ceiling on excludable transit pass and vanpooling expense is scheduled to increase

The following article is provided courtesy of CCH, Inc.Newly finalized Treasury regulations relate to the computation of the Code Sec. 41 credit for increasing research activities and to the definition of "qualified research" for purposes of the credit.

In apparent response to the discovery that the IRS had ordered his company to garnish his wages for back taxes, a Massachusetts software tester came to work bearing a semiautomatic assault rifle, a 12-gauge shotgun, and a pistol, and killed seven members of the company accounting department.Michael McDermott, 42, had recently learned of the garnishment, which would have extracted "a couple thousand dollars" from his wages for back taxes and related penalties and interest. His employer at Edgewater Technology, Inc.

Although the dust has barely settled on the finality of the election for the nation's future president, George W. Bush is wasting no time in meeting with key players, including Alan Greenspan.Bush met with Greenspan--along with Dick Cheney and other advisors--early Monday morning, and although the agenda was not publicly disclosed, analysts believe they discussed Greenspan's support of the proposed Bush tax cuts.Another possible topic was a discussion about Greenspan's belief that U.S. debt ought to be paid off by the government's current surplus.

The following article is provided courtesy of CCH, Inc.The House plans to consider a few tax measures before its target adjournment on Dec. 15.

The Taxpayer Relief Act of 1997 included a provision whereby businesses with average gross receipts of no greater than $5 million for three consecutive taxable years are no longer liable for Alternative Minimum Tax.

The IRS has authorized online payments of amounts due with federal 1040 tax returns, 1040ES Estimated Payments, and Form 4868 extensions of time to file tax returns, effective January 12, 2001.