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IRS Gets in On the Twitter Action
It's official. Everyone is now on Twitter, even the IRS. By following @InternalRevenue you can keep up with tax updates and IRS announcements.
3 Ways Obama Plans to Help Americans Save More
The federal government is in an unfathomable amount of debt, but that's not stopping President Obama from trying to help US citizens improve their personal finances. The message from his weekly address was clear.
Even before this recession hit, the savings rate was essentially zero, while borrowing had risen and credit card debt had increased.
Nicolas Cage's Unpaid 2007 Tax Bill: Guess How Much?
He's certainly not the first celebrity to get in trouble with the IRS for not paying his taxes, and Nicolas Cage is currently under scrutiny for unpaid taxes from 2007. Can you guess how much the IRS is after him for?
Take the quiz
Failure to File: 7 IRS Penalties You Should Know
If you are considering anything less than legal when it comes to your filing your taxes spend a little time and consider the very real consequences. It's not just Wall Street powerhouses who can be taken down for failure to file returns (on time or in general) or pay taxes as required.
Wondering what's at stake?
How to Handle an Overwhelming Tax Bill in 2009
While understanding has never been an adjective used to describe the IRS, the agency claims it will aim to be more so this year as people are slapped with tax bills they can't afford. We saw unemployment consistently grow in 2008 and jobs were particularly hard hit during the fourth quarter of the year, so many newly unemployed Americans who aren't earning a salary will owe the government money they don't have come tax season — which is right about now.
IRS Commissioner Doug Shulman conceded, "Citizens are facing enormous challenges.
250,000 Couples Will Receive Stimulus Checks
When rebate checks were distributed to Americans this Summer the IRS only cut checks to citizens whose names and social security numbers matched. The IRS recently announced they would be issuing overdue checks to 250,000 couples that qualified for the stimulus but were overlooked because of mismatched names and social security numbers.
If one person decides to change their name after marriage, the change should be reported to the Social Security Administration so their social security number matches the new legal name.
Did You Receive Your Rebate Check on Time?
The IRS didn't do itself any favors by publishing very precise schedules for sending stimulus payments to expectant Americans. There have been numerous issues throughout the process and the schedule didn't turn out to be as accurate as the IRS had hoped.
Direct deposit payments started making their way to bank accounts back in late April, and taxpayers with social security numbers ending anywhere from 64-99 will receive their checks over the next few weeks (64-75, your check is supposed to be mailed no later than tomorrow!).
Cost of Rebate Checks Could Be Counterproductive
IRS employees haven't had the chance to be bored at work since the economic stimulus plan was announced this year. The IRS fielded six times the call volume during the week of May 24 than the same week last year, which meant extensive waiting time for callers.
A new report from the Government Accountability Office makes it clear that any consumer spending resulting from the checks may be outweighed by expensive processing and administration costs of the checks.
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Official IRS Timeline For Issuing Rebate Checks
Last week the Treasury Department announced they'd be sending the rebate checks ahead of schedule. The IRS updated their old schedule and produced a new schedule on Monday, the first day that taxpayers started receiving their rebates. Please note that this schedule is different from the previously posted estimated schedule, as the IRS didn't release the below schedule until this week.
Don't Be Afraid of That Letter From the IRS
Usually, getting mail is one of life's small joys in my opinion. And since I've opted out from receiving credit card offers, I rarely see an envelope addressed to me. A return address labeled IRS might have me taking back any hope that paper mail weren't so out of mode, especially if it arrived out of the blue.
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