Showing posts with label U.S. Treasury. Show all posts
Showing posts with label U.S. Treasury. Show all posts

Friday, January 9, 2015

The Last 2015 Tax Return and Refund Issues You’ll Ever Consider: Old and New Tax Scams to Worry About

You might've read something about the IRS wanting to regulate certain tax preparers, and if that's the case, you're most likely wondering why. It can't be that hard, this thing called 'taxes.' They're just numbers! I dare you to try it. Try it. Try looking at all your figures, your annual income, and figure out this thing called 'tax brackets,' breaks and all that other lingo and jargon many certified public accountants would know (but not you).

Taxes Aren't Fun, People. And Neither Are These Tax Scams.


Why do you think we try and hire tax guys to do it for us? Why do you think we get in on this service for speedy 2-hour tax returns? Why do you think we end up reading countless bits of material online, such as this one about tax preparation for efficient and accurate returns and refunds in 2015? Taxes may not be fun, but they're essential, and not just because we could get that hefty direct deposit for Spring vacation purposes.

Because taxes are no joke, it's pretty easy to get scammed into something without realizing it. We've seen it for years. The IRS is quite aware of it. In fact, the agency has an annual list of tax scams that one could call the "Dirty Dozen." No joke.

"Dirty moviep" by www.movieposter.com. Licensed under Fair use via Wikipedia - http://en.wikipedia.org/wiki/File:Dirty_moviep.jpg#mediaviewer/File:Dirty_moviep.jpg
For this year of 2015, though, know that the idea of the 'tax scam' is an evolving beast of mammoth proportions, so it would do you well to always check up with the Internal Revenue Service about what to look out for. The IRS did issue its first warning back in 2014 over a telephone tax scam, but since then, things have gotten worse. Don't be fooled.

In particular, the new healthcare premium tax credit we'll be looking at for 2015 is a healthy target for scams. Consult with a tax attorney, as usual, and speak with a professional about it. Whatever you do, never answer the phone and talk to a supposed 'tax expert' trying to determine just how much you owe the government.

Be on Your Guard About These 2015 Tax Return Scams


Nobody likes getting swindled. And remember to watch out for enemy targets out there in the battlefield.

Thursday, January 8, 2015

Anymore Issues for 2015 Tax Returns? What About That Awesome FSA Rollover?

Professionals in the workplace see a great benefit, particularly when involving taxes, and if you're strategic about it, you can come out on top. The benefit, of course, I'm talking about is the "FSA," or flexible spending account typically used for out-of-pocket medical costs.

This Is What You Need to Do With an FSA Regarding Your Tax Return


What you have to understand is that FSA is technically part of your income. If you don't "put it away somewhere," it legally can be counted as taxable, possibly affecting your return (perhaps positively, perhaps negatively).


The key benefit with the FSA is its flexibility. You can do what you want with it, when you want with it, before the IRS ever gets your tax return. Additionally, there's one awesome extra with the FSA that you shouldn't forget about:

"Roll Them Over" Into the Next Year


What does that mean? Simply put, there may be a chance that you might not use all of what's on the FSA in any given year. Back in 2013, the IRS and United States Treasury made it possible for employees to carry over as much as $500 to the next benefit year. The added benefit, though, was a bit too late for 2014, but guess what: you get this for 2015. Take advantage of these tax benefits as well as this notice of something spectacularly easy, leading you to a nice 2015 tax refund.

Speak With a Tax Professional About Your 2-Hour Tax Return


Yes, those 2-hour tax returns and reviews make their waves and get people to turn their heads. It's all about convenience. In addition, with that fantastic convenience, you get the possibility of carrying over an FSA and putting more money in your pocket.

You can't beat that.