Federal income tax

Tax

Save the Date: Tax Season to Start on January 31

The 2014 tax-filing season, which was scheduled to begin on January 21 but was delayed because the IRS could not program and test its tax-processing systems during the sixteen-day federal government shutdown in October, will now begin on January 31, according to the agency.
Tax

Virginia Married Gay Couples Face Tax Dilemma

The Virginia Department of Taxation says it cannot legally allow same-sex married couples who are residents of Virginia to file their state tax returns using the married/joint status.
Tax

TIGTA Wants IRS to Take Steps to Prevent Fraudulent Refunds

After reviewing the IRS's primary tool for detecting fraudulent tax returns, the TIGTA recommended the IRS take steps to fix ineffective income and withholding verification processes that are resulting in the agency issuing potentially fraudulent tax refunds.
Tax

TIGTA: IRS Contractor Employees Owe $5.4 Million in Tax Debts

A report released October 23 from the Treasury Inspector General for Tax Administration (TIGTA) revealed that hundreds of IRS contractor employees owe millions of dollars in federal tax debt.
Tax

Shutdown Fallout: IRS Delays 2014 Tax-Filing Season

The 2014 tax-filing season, which was scheduled to begin on January 21, 2014, will be delayed approximately one to two weeks as a result of the recently concluded federal government shutdown, the IRS announced October 22.
Tax

IRS Provides Update on Available Services During Shutdown

The IRS on October 8 posted updated information for taxpayers on its website about what services the agency can and cannot provide while the federal government is shut down.
Tax

2014 Income Tax Bracket Increase Estimates Revealed

Although slow rises in prices have been paired with only modest wage increases in many sectors of the current economy, taxpayers will at least receive some relief in 2014, thanks to the mandatory annual inflation adjustments provided under the Tax Code, according to CCH, part of Wolters Kluwer.
Tax

Fewer Americans Pay No Federal Income Tax in 2013

Thanks to an improved economy and the expiration of most tax stimulus measures, the percentage of Americans who pay no federal income tax is falling, from 47 percent of households in 2010 to 43 percent in 2013.
Tax

All Legal Same-Sex Marriages Will Be Recognized for Federal Tax Purposes

The US Department of the Treasury and the IRS on August 30, 2013, ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes.
Tax

US Citizenship No Longer Worth Red Tape and High Taxes for Some

A surprising number of Americans living abroad are giving up and saying "uncle" to Uncle Sam. In quarter two of 2013, more Americans – 1,130 – renounced their citizenship than in all of 2012. That's in addition to 679 in the first quarter.
Tax

IRS Seeks to Ease Rules for Innocent Spouses

The IRS is moving forward in its efforts to provide more leeway under the "innocent spouse" rules. On August 12, the IRS proposed a permanent extension of the rule allowing taxpayers up to ten years to apply for equitable relief.

Already a member? log in here.