The Internal Revenue Service has announced the end of the Offshore Voluntary Disclosure Program (OVDP). The deadline for full and final submissions has been announced as 28 September 2018. The OVDP program has been around in one form or another since 2009. It is...
One of the many benefits of using tax professionals for advice and return preparation is to ensure that income is attributed to the correct source on an income tax return. A commonly made error is incorrect sourcing. For example, many taxpayers incorrectly assess...
Taxpayers who cannot locate documents including 1099s, W-2s, and past year returns they have filed can request transcripts from the IRS either by completing form 4506 or 4506-t, online at: http://www.irs.gov/individuals/article/0,,id=232168,00.html?portlet=4 Also by...
Some pointers as regards changes affecting 2010 US tax return filers. 1. The due date – 15 April – has been changed to 18 April due to to the Emancipation Day holiday in DC. This applies nationwide. 2. The standard deduction has increased for some...
Not only the IRS but the IRD is on the warpath as well, announcing its policy as regards the collection of outstanding debt and unfiled tax returns today. IRD advises that additional funds have been granted by the government for outgoing calls to delinquent taxpayers....
