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.
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.
The IRS announced it will issue guidance to provide relief from the estimated tax penalty for farmers and fishermen unable to file and pay their 2012 taxes by the March 1 deadline due to the delayed start for filing tax returns.
The IRS is reminding senior citizens of an eleventh-hour reprieve granted by the American Taxpayer Relief Act. Older individuals can still pull off a tax-free, IRA-to-charity transfer of funds, but only if they act by January 31.
The IRS announced January 11, 2013, annual inflation adjustments for tax year 2013, including the tax rate schedules and other tax changes from the recently passed American Taxpayer Relief Act of 2012.
The IRS is concerned that e-filing by tax return preparers could be short-circuited by hackers. As a result, it has updated the FAQs on its website outlining the steps to take if your EFIN is compromised.
Following the January tax law changes made by Congress under the American Taxpayer Relief Act, the IRS has announced it plans to open the 2013 filing season and begin processing individual income tax returns January 30.
The IRS has issued an important reminder to 730,000 federal tax return preparers around the country: Don't forget to renew your PTIN for 2013. It has also cautioned tax professionals who must meet new competency tests to schedule their exams.
"Benjamin Franklin said, 'In this world, nothing could be said to be certain, except death and taxes.' At least with taxes, they keep changing." Thus starts a new YouTube video entitled "Medicare Investment Income Tax."
The IRS has announced various cost-of-living adjustments for 2013. Although inflation has remained on the low side this year, it was still high enough to move the needle on more than two dozen tax code provisions.