IRS Publishes Tips on Preparing for a Disaster

Friday, April 3rd, 2009

The IRS recently published several tips for preparing for a disaster. Their first suggestion is record keeping. They suggested the following, "Take advantage of paperless recordkeeping for financial and tax records. Many people receive bank statements and documents by e-mail. This method is an outstanding way to secure financial records. Important ...

2008 Heroes Act

Tuesday, August 19th, 2008

The 2008 Heroes Act passed unanimously in the House on May 20, 2008, and in the Senate on May 22, 2008. President Bush signed this act into law on June 17, 2008.   Military reservists who are called to active duty are taken into special consideration in the 2008 Heroes Act. This ...

IRS increases standard mileage rate

Tuesday, June 24th, 2008

 It seems gas prices are affecting every aspect of our lives from rising food costs to, of course, expensive transportation. However, you and your clients may get some relief when it comes to transportation. The IRS announced on Monday that there is an increase in the optional standard mileage rates ...

Does the IRS need to know where your clients are?

Wednesday, June 4th, 2008

With all the planning that goes into a move, don't forget to let the IRS know where to find your clients. Come tax time, you want to be sure they have their correct mailing address - especially if they are due a refund. If you received pre-printed address labels with ...

You might have an IOU from the IRS

Monday, March 31st, 2008

In an article on MSN Money, MarketWatch reported that about $1.2 billion is sitting in the IRS coffers—waiting to be claimed by taxpayers. The money belongs to taxpayers who neglected to file a 2004 tax return. The average return for taxpayers who didn't file in 2004 is $552. This is significant ...