Published: Sat, April 14, 2018
Life&Culture | By Rose Hansen

IRS warning: Don't be a victim of 'ghost' tax return preparers

IRS warning: Don't be a victim of 'ghost' tax return preparers

Because the IRS considers the LLC a disregarded entity for tax purposes, by default, it receives pass-through tax treatment. Encrypt sensitive files such as tax records stored on computers. They pick up the phone and someone on the other end tells them they're from the IRS. If you have paid excess tax during the year through tax deducted at source (TDS) or your tax-saving investments have not been taken into account while computing TDS, you would be eligible for a refund.

The biggest mistakes taxpayers make on their returns are entering the wrong Social Security number or even forgetting to enter it, Devine said.

But tax season also means scam season for IRS impersonators.

Financial stress sweeps over the United States during this time of year, with people rushing to fit into their accountants' jam-packed schedules to get their taxes in order and ready for the Internal Revenue Service (IRS).

Demand that taxpayers pay taxes without the opportunity to question or appeal the amount they say is owed. "Not filing a tax return when you owe money, that's not a good thing".

Electronic filing reduces tax return errors because "the software walks you through the process and you won't miss anything", he said.

As for state income tax returns, the consequences of not filing varies based on where you live. They're breaking the law, and it's not fair to the people who are paying their income taxes.

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If you file as self-employed but had net earnings - meaning income after expenses - below $400, you don't need to file a federal tax return unless you received subsidies for health insurance. After IRS (Internal Revenue Service) categorized digital currency as property, U.S. citizens now have to calculate their tax liabilities arising thereof.

Unfortunately, if you're looking to file for a tax extension for 2018, mailing in your paperwork is probably not a possibility unless you're willing to pay for expedited shipping.

Hoosiers won't see many differences in the federal taxes they file this year.

Make sure you are claiming the right tax credits.

"Operational measures, like the [level of service], can yield a hollow result because they are only indicative of efficiency, not taxpayer satisfaction with the way the IRS handles calls or provides information", she wrote in her annual report to Congress this year. The agency's workload was dramatically increased by the Republican tax law, which tasked the agency with immediately implementing hundreds of complicated revisions to the USA tax code.

Does everyone need to file for an extension? In other words, its profits are taxed as personal income, and the owners are directly responsible for that tax obligation.

"If they don't think they can file their return by April the 17th this year, we can file an extension form, which gives them up until October the 15th to actually file their tax return".

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