Category Archives: Uncategorized

WASHINGTON – The Internal Revenue Service is inviting civic-minded individuals to help improve the nation’s tax agency by applying to be members of the Taxpayer Advocacy Panel. The panel provides a forum for citizens from each state to make suggestions regarding IRS decision making. Taxpayer Advocacy Panel (TAP) members: Provide opportunities for citizen input and make recommendations to the IRS and Treasury on customer-service issues. Identify and prioritize taxpayer issues. Report annually to Treasury, the IRS and the National Taxpayer … Continue reading →

WASHINGTON – The Internal Revenue Service announced today that taxpayers are continuing to e-file at a record pace. The biggest increase is in returns e-filed from home computers, up almost 17 percent over last year’s figure. “Each year, we are seeing more taxpayers choosing e-file, with the highest growth belonging to those who file from a home computer,” said IRS Commissioner Mark W. Everson. “E-file is a safe, accurate way to quickly finish your taxes and get your refund.” Of … Continue reading →

WASHINGTON – The Internal Revenue Service announced today an agreement with two tax professional associations to assist taxpayers impacted by Hurricanes Katrina, Rita and Wilma. Volunteers at IRS’ Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites are now able to refer hurricane-affected taxpayers needing help with relatively complex tax issues to participating members of the American Institute of Certified Public Accountants (AICPA) or the American Association of Attorney-Certified Public Accountants (AAA-CPA) for free return preparation … Continue reading →

WASHINGTON — The Internal Revenue Service today awarded contracts to three firms to participate in the first phase of its private debt collection initiative.The firms are: • The CBE Group Inc., Waterloo, Iowa. • Linebarger Goggan Blair & Sampson, LLP, Austin, Texas. • Pioneer Credit Recovery, Inc., Arcade, N.Y. A total of 33 firms took part in the competitive bidding process that resulted in today’s contract awards. “The vast majority of states use private firms to help collect delinquent taxes. The new authority … Continue reading →

WASHINGTON — The Internal Revenue Service today announced there will be no change in the interest rates for the calendar quarter beginning April 1, 2006.  The interest rates are as follows:    •  seven (7) percent for overpayments [six (6) percent in the case of a corporation]; •  seven (7) percent for underpayments; •  nine (9) percent for large corporate underpayments; and  •  four and one-half (4.5) percent for the portion of a corporate overpayment exceeding $10,000. Under the Internal Revenue Code, the rate … Continue reading →

WASHINGTON – The Internal Revenue Service has certified the model year 2006 Toyota Prius Hybrid for the clean fuel vehicle deduction.  This certification means that taxpayers who purchased a 2006 Toyota Prius new during calendar year 2005 may claim a tax deduction of up to $2,000 on line 36 of Form 1040. The agency stresses that the $2,000 deduction is for tax years 2005 and earlier. Starting in 2006 the deduction is replaced with a credit, which will require a … Continue reading →