by steve | Apr 1, 2010 | Tax Help, Uncategorized
The Taxpayer Advocate Service is an independent organization within the Internal Revenue Service whose employees assist taxpayers who are experiencing economic harm, who are seeking help in resolving problems with the IRS, or who believe that an IRS system or procedure is not working as it should. Here are seven things every taxpayer should know about TAS.
TAS is your voice at the IRS.
TAS service is free, confidential, and tailored to meet your needs.
You may be eligible for TAS help if you?ve tried to resolve your tax problem through normal IRS channels and have gotten nowhere, or you think an IRS procedure just isn’t working as it should.
TAS helps taxpayers whose problems are causing financial difficulty or significant cost, including the cost of professional representation. This includes businesses as well as individuals.
TAS employees know the IRS and how to navigate it. They will listen to your problem, help you understand what needs to be done to resolve it, and stay with you every step of the way until your problem is resolved.
TAS has at least one local taxpayer advocate in each state, the District of Columbia, and Puerto Rico. You can call your local advocate, whose number is in your phone book, in Pub. 1546, Taxpayer Advocate Service — Your Voice at the IRS, and at www.irs.gov/advocate. You can also call our toll-free number at 1-877-777-4778 or TTY/TDD 1-800-829-4059.
You can learn about your rights and responsibilities as a taxpayer by visiting the TAS online tax toolkit at www.taxtoolkit.irs.gov. You can also check out the TAS YouTube channel at www.youtube.com/tasnta.
If Fresh start tax can help you in any way, send us an email
by steve | Apr 1, 2010 | Tax Help, Uncategorized
Fresh Start Tax would like you to know the following from the IRS Wire
Are you expecting a refund from the IRS this year? Here are the top 10 things you should know about your refund.
Refund Options You have three options for receiving your individual federal income tax refund: a paper check, direct deposit or U.S. Savings Bonds. You can now use your refund to buy up to $5,000 in U.S. Series I savings bonds in multiples of $50.
Separate Accounts You may use Form 8888, Direct Deposit of Refund to More Than One Account, to request that your refund be allocated by direct deposit among up to three separate accounts, such as checking or savings or retirement accounts. You may also use this form to buy U.S Savings Bonds.
Paper Return Processing Time If you file a complete and accurate paper tax return, your refund will usually be issued within six weeks from the date it is received.
Returns Filed Electronically If you filed electronically, your refund will normally be issued within three weeks after the acknowledgment date.
Check the Status Online The fastest and easiest way to find out about your current year refund is to go to IRS.gov and click the ?Where?s My Refund?? link at the IRS.gov home page. To check the status online you will need your Social Security number, filing status and the exact whole dollar amount of your refund shown on your return.
Check the Status By Phone You can check the status of your refund by calling the IRS Refund Hotline at 800?829?1954. When you call, you will need to provide your Social Security number, your filing status and the exact whole dollar amount of the refund shown on your return.
Delayed Refund There are several reasons for delayed refunds. For things that may delay the processing of your return, refer to Tax Topic 303 at IRS.gov, which includes a Checklist of Common Errors When Preparing Your Tax Return.
Larger than Expected Refund If you receive a refund to which you are not entitled, or one for an amount that is more than you expected, do not cash the check until you receive a notice explaining the difference. Follow the instructions on the notice.
Smaller than Expected Refund If you receive a refund for a smaller amount than you expected, you may cash the check. If it is determined that you should have received more, you will later receive a check for the difference. If you did not receive a notice and you have questions about the amount of your refund, wait two weeks after receiving the refund, then call 800?829?1040.
Missing Refund The IRS will assist you in obtaining a replacement check for a refund check that is verified as lost or stolen. If the IRS was unable to deliver your refund because you moved, you can change your address online. Once your address has been changed, the IRS can reissue the undelivered check.
For more information, visit IRS.gov or call 800-829-1040.
by steve | Mar 29, 2010 | Tax Help, Uncategorized
Ten Tips for Deducting Charitable Contributions FROM THE GREAT UNCLE OF OURS DIRECTLY FROM IRS.GOV, VERY GOOD TIPS
When preparing to file your federal tax return, don’t forget your contributions to charitable organizations. If you made qualified donations last year, you may be able to take a tax deduction if you itemize on IRS Form 1040, Schedule A.
The IRS has put together the following 10 tips to help ensure your contributions pay off on your tax return.
Contributions must be made to qualified organizations to be deductible. You cannot deduct contributions made to specific individuals, political organizations and candidates.
You cannot deduct the value of your time or services. Nor can you deduct the cost of raffles, bingo or other games of chance.
If your contributions entitle you to merchandise, goods or services, including admission to a charity ball, banquet, theatrical performance or sporting event, you can deduct only the amount that exceeds the fair market value of the benefit received.
Donations of stock or other property are usually valued at the fair market value of the property. Special rules apply to donation of vehicles.
Clothing and household items donated must generally be in good used condition or better to be deductible.
Regardless of the amount, to deduct a contribution of cash, check, or other monetary gift, you must maintain a bank record, payroll deduction records or a written communication from the organization containing the name of the organization, the date of the contribution and amount of the contribution. For donations by text message, a telephone bill will meet the record-keeping requirement if it shows the name of the organization receiving your donation, the date of the contribution, and the amount given.
To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgment requirement for all contributions of $250 or more.
If your total deduction for all non cash contributions for the year is over $500, you must complete and attach IRS Form 8283, Non Cash Charitable Contributions, to your return.
Taxpayers donating an item or a group of similar items valued at more than $5,000 must also complete Section B of Form 8283, which requires an appraisal by a qualified appraiser.
To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A.
CALL FRESH START TAX IF WE CAN HELP
by steve | Mar 26, 2010 | Tax Help, Uncategorized
(1)
Your name or your company’s name
Your address or your company’s address
Your phone number (optional)
Date
(2)
Internal Revenue Service
[Your local Disclosure Office address; See IRS Disclosure Offices for address list]
Dear Disclosure Officer:
This is a sample letter and outline
This is a request under the Freedom of Information Act.
(4)
I request that a copy of the following documents (identify the documents or information as specifically as possible) be provided to me. I do not wish to inspect the documents first.
(5)
In order to determine my status for the applicability of fees, you should know that I am (insert a suitable description of the requester and the purpose of the request).
[Sample requester descriptions (please choose only one if applicable):
A Media Requester: a representative of the news media affiliated with the XXXX newspaper (magazine, television station, etc.), and this request is made as part of news gathering and not for a commercial use.
An Educational Institution Requester or a Non-Commercial Scientific Institution Requester affiliated with an educational or noncommercial scientific institution, and this request is made for a scholarly or scientific purpose and not for a commercial use.
A Commercial-Use Requester affiliated with a private corporation, seeking information for use in the company’s business.
An ?Other? Requester seeking information for non-commercial or personal use.]
(6)
As proof of identity I am including a photocopy of my driver?s license, notarized declaration, sworn statement, etc. (See ?To Establish Identity and Right to Access?)
(7)
I am willing to pay fees for this request up to a maximum of $XX. If you estimate that the fees will exceed this limit, please inform me first.
(8)
Thank you for your consideration of this request.
Sincerely,
[your signature]
by steve | Mar 26, 2010 | Tax Help, Uncategorized
SO, WHAT DOES IRS SAY THE IMPORTANT ISSUES ARE REGARDING CHARITABLE CONTRIBUTIONS:
When preparing to file your federal tax return, don’t forget your contributions to charitable organizations. If you made qualified donations last year, you may be able to take a tax deduction if you itemize on IRS Form 1040, Schedule A.
The IRS has put together the following 10 tips to help ensure your contributions pay off on your tax return.
Contributions must be made to qualified organizations to be deductible. You cannot deduct contributions made to specific individuals, political organizations and candidates.
You cannot deduct the value of your time or services. Nor can you deduct the cost of raffles, bingo or other games of chance.
If your contributions entitle you to merchandise, goods or services, including admission to a charity ball, banquet, theatrical performance or sporting event, you can deduct only the amount that exceeds the fair market value of the benefit received.
Donations of stock or other property are usually valued at the fair market value of the property. Special rules apply to donation of vehicles.
Clothing and household items donated must generally be in good used condition or better to be deductible.
Regardless of the amount, to deduct a contribution of cash, check, or other monetary gift, you must maintain a bank record, payroll deduction records or a written communication from the organization containing the name of the organization, the date of the contribution and amount of the contribution. For donations by text message, a telephone bill will meet the record-keeping requirement if it shows the name of the organization receiving your donation, the date of the contribution, and the amount given.
To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgment requirement for all contributions of $250 or more.
If your total deduction for all non cash contributions for the year is over $500, you must complete and attach IRS Form 8283, Non Cash Charitable Contributions, to your return.
Taxpayers donating an item or a group of similar items valued at more than $5,000 must also complete Section B of Form 8283, which requires an appraisal by a qualified appraiser.
To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A.
For more information on charitable contributions, refer to Form 8283 and its instructions, as well as Publication 526, Charitable Contributions. For information on determining value, refer to Publication 561, Determining the Value of Donated Property. These forms and publications are available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).
SHOULD YOU HAVE any other questions, call Fresh Start today.
by steve | Mar 25, 2010 | Tax Help, Uncategorized
IRS Provides Guidance on Identifying Numbers for Tax Return Preparers
WASHINGTON ? The Internal Revenue Service today issued proposed regulations allowing the IRS to require that tax return preparers use Preparer Tax Identification Numbers (PTINs) as the preparer?s identifying number on all tax returns and tax refund claims that they prepare. These regulations when final will implement some of the recommendations in Publication 4832, Return Preparer Review.
?These regulations allow the IRS to better identify and match tax return preparers with the tax forms and claims they prepare. This proposed PTIN system will help us ensure taxpayers receive competent, ethical service from qualified professionals and strengthen the integrity of our tax system,? said IRS Commissioner Doug Shulman.
Under the proposed regulations, the IRS will issue forms, instructions, or other guidance that will require paid tax return preparers to begin using PTINs for all tax returns and refund claims filed after Dec. 31, 2010. Currently, tax return preparers must use either a PTIN or their social security number on tax returns or refund claims that they prepare.
The proposed regulations also provide that tax return preparers must apply for a PTIN, regularly renew the PTIN, and pay associated user fees, which will be described in upcoming guidance. As part of the process, some tax return preparers would also be subject to a tax compliance check, which could include a review of the preparer?s history of compliance with personal and business tax filing and payment obligations.
Tax professionals and other interested parties have until April 26, 2010 to submit comments regarding the attached proposed regulations.
The IRS plans to launch a new system later this year through which all tax return preparers will be required to register, including those who already have a PTIN. Tax return preparers who already have a PTIN will have the number revalidated and reassigned to them through the new system, while tax return preparers who do not have a PTIN will be issued one through the new system.
It is estimated that there are as many as 1.2 million paid tax return preparers.
