Income Tax

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December 26, 2015 

Gift Return Fraud May Cost Retailers $2.2 Billion

Nine in 10 retailers surveyed (91.9%) said they have experienced the return of stolen merchandise, similar to last year’s 92.7 percent. Wardrobing, or the return of used, non-defective merchandise , also presents a unique challenge year after year for ...

 The 5 Biggest Tax Mistakes Small Business Owners Make

December 23, 2015 

The 5 Biggest Tax Mistakes Small Business Owners Make

Whether a business is incorporated and files returns as an entity, or is an LLC and the owner files a Schedule C with their personal 1040 income tax return, there are many potential areas for errors, from misreporting income or expenses, to missing ...

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December 22, 2015 

ADP System Helps Employers Track New Work Opportunity Tax Credit

WOTC is a tax incentive program designed to encourage employers to hire and retain individuals from specific target groups with employment barriers. These groups include Veterans of War (VOW), Empowerment Zone residents, welfare and food stamp ...

 Report Says IRS Needs To Take Steps To Prevent Fraudulent Refunds

December 22, 2015 

Report Says IRS Needs To Take Steps To Prevent Fraudulent Refunds

TIGTA initiated this audit because an IRS employee reported to the TIGTA Office of Investigations that the IRS was not working some taxpayer cases in which refunds were held. The Office of Investigations identified that the IRS did not timely address ...

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December 22, 2015 

IRS to Accept Income Tax Returns Starting January 19, 2016

Following a review of the tax extenders legislation signed into law this week, the Internal Revenue Service says that tax season will begin as scheduled on Tuesday, Jan. 19, 2016. The IRS expects to receive more than 150 million individual returns ...

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December 21, 2015 

PATH Act: Obama Signs Tax Extenders Law

The PATH Act makes more than 20 tax breaks permanent in addition to retroactively extending a slew of others for two or more years. Here’s a roundup of the key individual, business and miscellaneous provisions in the new measure.

 Chart Shows When Will You Get Your 2016 Income Tax Refund

December 20, 2015 

Chart Shows When Will You Get Your 2016 Income Tax Refund

When will you get your income tax refund? If you're one of the millions of Americans who are asking that question (or will be in the coming weeks), we have the answer. It depends on a couple of factors, but the good news is that there are several ...

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December 20, 2015 

2015 IRS Income Tax Tables and Deductions

For tax year 2015 - which Americans must file by April 18, 2016 - the has announced annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. The tax items for tax year 2015 ...