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Tag Archives: IRS

File federal taxes for free

IRS Free File opened Tuesday. Everyone can use Free File, either the brand-name software offered by IRS’ commercial partners or the online fillable forms. Individuals or families with 2011 adjusted gross incomes of $57,000 or less can use Free File ...

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Getting IRS forms and publications

The Internal Revenue Service has free tax forms and publications on a wide variety of topics. Because of continued growth in electronic filing, the availability of free options to taxpayers and to reduce costs, the IRS discontinued the automatic mailing ...

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IRS kicks off 2012 tax season

The Internal Revenue Service on Wednesday opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. The IRS encourages taxpayers to e-file as it is the best way to ensure accurate ...

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New tax guide helps save in 2011

Taxpayers can get the most out of various recovery tax benefits and a jump on preparing their 2011 federal income tax returns by consulting a newly revised comprehensive tax guide now available on IRS.gov. Publication 17, Your Federal Income Tax, ...

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Labor expands enforcement of wage violations

WASHINGTON — The Labor Department is signing agreements to share information with nine states and the Internal Revenue Service as it gets more aggressive in its program to crack down on businesses that cheat workers out of their hard-earned wages.

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H&R Block won’t offer refund-backed loans

NEW YORK CITY — H&R Block Inc. said Tuesday that it won’t offer refund anticipation loans next tax season because it’s getting more new clients and the appeal of the high-cost loans is shrinking.

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IRS offshore disclosure deadline is Friday

Hurricane Irene affected a lot of schedules and deadlines, including the Internal Revenue Service’s successful 2011 Offshore Voluntary Disclosure Initiative (OVDI). The program encourages taxpayers with undisclosed income in foreign banks or hidden offshore accounts to resolve the issue with the IRS.

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IRS nixes time limit on innocent spouse rule

The Internal Revenue Service announced changes to the innocent spouse rule last week and did away with the requirement that a spouse must apply for protective relief within two years of the initiation of a collection action.

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IRS continues foreign account disclosure program

In February, the Internal Revenue Service announced it would extend its popular (and lucrative to the government) voluntary disclosure initiative program to help taxpayers with undisclosed income in foreign banks or hidden offshore accounts to resolve the issue with the IRS.

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Keeping Your Balance: Health Savings Accounts inflation adjusted for 2012

In recognition of the increase in the cost-of-living adjustment, the IRS has announced the inflation adjusted amounts that will control Health Savings Accounts (HSAs) next year (Rev. Proc. 2011-32). For 2012, the annual contribution limit for an individual with self-only coverage under a high-deductible health plan (HDHP) will be increased from the 2011 amount of $3,050 to the 2012 limit of $3,100. For that same individual with family coverage under an HDHP limit will be increased to $6,250 from the 2011 calendar limit of $6,150.

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