Tag Archives: refund

1st Grade Tax Tips

This is usually the time of year when people start digging through their file, or shoe box as the case may be, in an effort to get started on their dreaded Form 1040.  If you wait until the eve of … Continue reading

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2014 Tax Season: Status Check

Today the IRS released some key filing season statistics to show how they are doing compared to last year at this time. So far the IRS has received some 49.6 million tax returns and has processed around 98 percent of … Continue reading

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FTB Holding $16 Million in Returned Tax Refunds

When you move to a different residence, do you immediately contact your creditors to let them know where you are?  Suuuure you do.  When you get around to it… It’s no secret that some people spend their lives moving from … Continue reading

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EIN Refund Fraud

Tax Refund Fraud.  We’ve seen this happening across the nation in a variety of communities.  The fraudster demographic is also quite diverse: some perpetrators are operating from within experienced fraud rings, some are regular street criminals (or inmates), some are even … Continue reading

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IRS Not Prepared for New ACA Fraud Opportunities

The Treasury Inspector General for Tax Administration (TIGTA) is concerned that the IRS is not prepared to combat the onslaught of tax fraud that is anticipated once the IRS begins paying premium tax credits associated with the Affordable Care Act … Continue reading

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IRS Hesitates to Enforce Erroneous Refund/Credit Penalty

If you file a tax return and claim a refund, but it turns out that you should not have claimed a refund (or if you claimed an excessive refund), you could be liable for payment of penalties.  Similarly, if you made … Continue reading

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Still Waiting on Your Tax Refund?

By the time you read this article, you should have that interest free loan that you gave to Uncle Sam returned to you via your federal tax refund. This assumes that you filed your tax return on time, and that … Continue reading

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Refund News: Some Good, Some Bad

The Good The IRS is sitting on $917 million in refunds for people who haven’t yet filed their 2009 tax return.  They made the announcement today via IRS Newswire.  See IRS Newswire Issue Number IR-2013-29.  If you’re wondering why they waited … Continue reading

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Wal-Mart and the EITC

The Earned Income Tax Credit (EITC) is a refundable federal income tax credit that was first offered to taxpayers back in 1975 to help prevent low income families from slipping into poverty.  EITC can mean tax relief (lower taxes) for … Continue reading

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Facebook’s Tax Refund

News that Facebook would be receiving a $429 million tax refund was of course misinterpreted by the general public.  The consensus among those who just don’t understand the complete story is that a company as profitable as Facebook should never … Continue reading

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