Tax Tips

Must Have Tax Tips for the 2015 Tax Filing Season

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TaxAudit.com, the IRS audit experts that handle more than 24,000 audits each year, today released its annual end-of-year tax tips for U.S. taxpayers. Many new tax laws have become effective for 2014, including rules for health insurance, capitalization of business property, personal and dependent exemptions and IRA rollover rules, among others. Some important new rules taxpayers and tax preparers should be aware of include:

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How to File a Complaint About a Tax Preparer

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If you have been financially impacted by a tax return preparer’s misconduct or improper tax preparation practices, you can report it to the IRS on Form 14157, Complaint: Tax Return Preparer. Download IRS Tax Form 14157 PDF Below: Most paid tax return preparers are professional, honest and trustworthy. The IRS is committed to investigating those who act improperly.  Listed below are some examples of inappropriate behavior by tax return preparers. Embezzling a client’s refund. Altering documents. Creating or omitting income to generate a larger refund. Creating false exemptions or dependents to generate a larger refund. Creating false expenses, deductions or credits to generate a larger refund Failing to sign tax returns they prepare and file. (Note: If electronically filed, your copy may not contain a signature.) Failing to enter a Preparer Tax Identification Number (PTIN) on a tax return or improperly using a PTIN belonging to another individual. Refusing to provide clients with a copy of their tax return. Neglecting to return a client’s records or holding the records until the preparation fee is paid. Using an incorrect filing status to generate a larger refund. Preparing client returns using off-the-shelf tax software or IRS Free File, both of which are …

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Tax Facts about the Affordable Care Act for Individuals and Families

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The most important ACA tax provision for individuals and families is the premium tax credit, which took effect on January 1, 2014. Individuals without coverage and those who don’t maintain coverage throughout the year must have an exemption or make an individual shared responsibility payment. These provisions will affect federal individual income tax returns filed in 2015.

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Information on Key Tax Provisions Affecting Employers

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The Affordable Care Act (ACA) contains several tax provisions that affect employers. Under the ACA, an employer’s workforce size is significant because this information determines which provisions apply. The IRS is conducting an information campaign to educate taxpayers about some of the basics of the ACA. This campaign will include health care tax tips, YouTube videos and expanded ACA web pages on IRS.gov.

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