Posts Tagged ‘IRS’

TAXES — It’s time for businesses of all sizes to start gathering records before filing

by Published: January 10,2014

Tags: accounting, Business, IRS, law, Mississippi, taxes

It’s a new year and time to get down to the nuts-and-bolts of tax season. Best advice? IRS spokesperson Dee Harris Stepter said, “Of course, what everyone should be doing is getting their records together so they can be ready to file.” The IRS will begin accepting 2013 business tax returns on Jan. 13. That […] [...]

EDITOR’S NOTEBOOK: Hello, Mr. President, can you hear me now?

My kids, all three of them, are really big fans of President Obama. It has nothing to do with their political affiliation, mind you, considering they are all 8 and under. My 7- and 8-year-olds got to meet him and shake his hand when he was running for president back in ’08, and, from then […] [...]

Errors and record mismanagement can be costly

It’s the little things that can get taxpayers. Simple math errors, poor penmanship or hurriedly filling out your tax form at the last minute account for loads of filing errors. And those slip ups, which typically happen with paper returns, give the Internal Revenue Service another opportunity to tout the benefits of filing taxes electronically. […] [...]

Read January 4 issue of MBJ

by Published: January 4,2013

Tags: Downtown Inn, e-file, electronic filing, IRS, Oxford

>> HOSPITALITY New hotel to replace Oxford’s Downtown Inn— by Clay Chandler Also in this week’s paper: >> HEALTHCARE NMMC implants first absorbing heart sent >> OUR VIEW Tight budget covers possible government oversight cuts >> EDITOR’S NOTEBOOK Viking sale leaves Greenwood hanging >> PHIL HARDWICK Exploring disconnects between economic and community developers >> NANCY […] [...]

Could it be your Social Security income will be taxed?

by Published: July 8,2012

Tags: IRS, retirement age, Social Security, taxes

Many new retirees today assume that Social Security income (SSI) is tax-free. Unfortunately, that is not always the case these days. This is because the door to taxation was opened in 1983 when Congress passed a law in which some might have to pay . . . depending on the amount of income earned. How […] [...]

Last minute tax advice for 2012

by Published: April 15,2012

Tags: dividends, IRS, tax penalties, taxes, wages

So it is tax day, this year on April 17 due to a Monday Emancipation Day holiday on April 16. But you haven’t filed a return, or asked for an extension. If you have asked for an extension, you might not have paid the estimated taxes due. Any of those things could bode badly for […] [...]

TROTTER: Last-minute tax reminders for 2012

by Published: April 8,2012

Tags: Form 8949, Ike Trotter, IRS, Roth IRA, tax season

Every year, the IRS enacts certain changes to the tax code; some large — but most fairly small. There are those situations, however, where some changes to the tax code don’t receive as much notice as they should. This year is no exception. Here is a rundown of what may affect some taxpayers this year. […] [...]

New IRS rule offers tax relief to drywall victims

by Published: October 7,2010

Tags: drywall, IRS, Katrina, tax rule

Source: Press release Tax Agency Announces Instructions to Help Offset Costs of Repairing Corrosive Drywall WASHINGTON, D.C. – U.S. Senators Thad Cochran and Roger Wicker (R-Miss.) today suggested that Mississippians consult a new federal procedure that provides favorable tax relief for property losses associated with corrosive drywall. The Internal Revenue Service (IRS) has issued guidance […] [...]

Employment tax audits take center stage with Internal Revenue Service

by Published: August 8,2010

Tags: finances, IRS, tax audits

Started with individual returns, then business and partnership returns The Internal Revenue Service is extending its National Research Program to cover employment taxes and their contribution to the tax gap. Businesses could face random audits under the program as soon as this fall. This program began with a concentration on individual returns and then moved […] [...]

Whistleblowing on tax cheaters

by Published: March 14,2010

Tags: IRS, tax cheaters, TAX TIME

IRS wants to hear from you if you know someone playing fast and loose with the numbers   Everybody does it.  Or do they? Most people wouldn’t admit it if they fudged on their tax return but would you blow the whistle on someone else? If the answer is affirmative, the Internal Revenue Service wants […] [...]

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