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Tag Archives: IRS

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. “We strongly suggest that people ...

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Read January 4 issue of MBJ

>> 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 ANDERSON Lt. Gov. Reeves living ...

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Last minute tax advice for 2012

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 your pocketbook and anxiety levels. ...

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TROTTER: Last-minute tax reminders for 2012

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. Don’t forget Form 8949 — ...

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New IRS rule offers tax relief to drywall victims

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 for affected homeowners who have ...

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Employment tax audits take center stage with Internal Revenue Service

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 on to examine business and ...

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