- BGGE Has a New Look For 2017
- 2017 Tax Season Begins Jan 23rd – Prepare for Some Significant Changes
- The Electronic Filing PIN Is No Longer a Signature Verification Option
- IRS Releases FY 2015 Data Book
- 2016 Tax Season Opens Jan. 19th - BGGE Clients Save
- National Taxpayer Advocate Reviews 2015 Filing Season
- 2015 Tax Season is Here
- Working Behind the Scenes
- Tax Benefits Due to Increase in 2015 Because of Inflation Adjustments
- IRS2Go 4.0 Smartphone App Downloads Surpass 2.3 Million
BGGE has a new look. I've used the "road to success theme" since 2013. I've wanted to change the home page for months. Under the old framework, periodic changes eventually made it look bloated. It definitely had become slow to load.
I'm calling this 2017 revamp "getting to know me". The home page is still informational and service-oriented, but also features my "virtual administrative assistant" qualifications, portfolio, and current promotions. The view-port is wider; the menu and footer links have been reorganized for easier navigation; and the social media buttons have been moved to the top of the page for easier access.
Completely overhauling BGGE will not be ...
The nation’s tax season officially begins on Monday, January 23, 2017. That is when the IRS will begin accepting electronic tax returns and processing paper tax returns. While many software companies and tax professionals will be accepting tax returns before Jan. 23, they cannot actually submit your return until the IRS systems open.
According to the December 9, 2016 newsletter, the IRS expects more than 153 million individual tax returns to be filed in 2017. Four out of five tax returns will be prepared electronically using tax return preparation software. Certain taxpayers may need to prepare for some significant changes for this tax season, as highlighted below:
Expect A Longer Wait For Certain......
On June 23, 2016, the IRS issued a statement on the Electronic Filing Pin. The statement read as follows:
As a precautionary step to protect taxpayers, the Internal Revenue Service today announced that the electronic filing PIN tool is no longer available on IRS.gov or by toll-free phone following additional questionable activity.
The e-File PIN serves as an alternative signature verification method on the Form 1040 series and helps assist with electronic filing of tax returns. Most taxpayers do not need an e-File PIN to file electronically, they can use their prior-year adjusted gross income from copies of their prior year tax returns. For those who do not have a copy of their tax return, they may use Get Transcript to obtain...
Last month, the Internal Revenue Service released the 2015 IRS Data Book, a snapshot of agency activities for the fiscal year.
The 2015 Data Book describes activities conducted by the IRS from Oct. 1, 2014, to Sept. 30, 2015 and includes information about returns filed, taxes collected, enforcement, taxpayer assistance and the IRS budget and workforce, among others. This edition also contains charts that show trends, such as the decline in the number of audits and the reduction in telephone and in-person tax assistance, but increases in the use of online resources and volunteer tax assistance.
Highlights of this year's Data Book
- During FY 2015, the IRS collected more than $3.3 trillion, processed more than 243 million tax ... ...
Although the IRS begins accepting returns on Jan. 19, many tax software companies began accepting tax returns earlier ......
... and Identifies Priority Areas and Challenges in Mid-Year Report to Congress
On July 15, 2015, National Taxpayer Advocate Nina E. Olson released her statutorily mandated mid-year report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year, including the IRS’s long-term strategic planning, tax-related identity theft and administration of the Patient Protection and Affordable Care Act (ACA), and presents highlights of the recently concluded filing season.
Overview of the Filing Season
The report says the IRS ran a generally successful filing season under difficult circumstances. “With funding down about 17 percent on an inflation-adjusted ...
The IRS will begin accepting tax returns electronically on January 20, 2015. Paper tax returns will begin processing at the same time. According to one of their newsletter's, "The decision follows Congress renewing a number of "extender" provisions of the tax law that expired at the end of 2013. These provisions were renewed by Congress through the end of 2014. The final legislation was signed into law Dec 19, 2014."
The IRS reminds taxpayers that filing electronically is the most accurate way to file a tax return and the fastest way to get a refund. There is no advantage to people filing tax returns on paper in early January instead of waiting for e-file to begin.
BGGE Bookkeeping will start taking new...
I've been working behind the scenes preparing for the upcoming tax season, helping clients deal with IRS correspondence, developing a new website, and tweaking BGGE's website and blogs. In fact, you may come across some pages that might be incomplete or have a broken link ---but I am making corrections as fast as I can.
You might find several blog posts missing. I am changing direction and editing almost a year's worth of articles for BGGE's News and Support Blogs. Again, please be patient with me.
To be honest, I had been suffering from writer's block. After more that ten years of writing for this site and others, I had to take a break. During the past two years, I have come ...
In October, the Internal Revenue Service announced annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. For tax year 2015, Revenue Procedure 2014-61 provides details about these annual adjustments.
Below are some of the tax items for tax year 2015 of greatest interest to my clients:
- The tax rate of 39.6 percent affects singles whose income exceeds $413,200 ($464,850 for married taxpayers filing a joint return), up from $406,750 and $457,600, respectively. The other marginal rates – 10, 15, 25, 28, 33 and 35 percent – and the related income tax thresholds are described in the revenue procedure.
- The standard deduction rises to $6,300 for singles ... ...
On March 31, 2014, the Internal Revenue Service announced that more than 2.3 million users have downloaded or updated IRS’s smartphone application IRS2Go 4.0 so far this year. The app’s latest version was launched earlier this year for the 2014 filing season.
Since its inception in 2011, the total number of downloads, including updates, of its IRS2Go smartphone application has surpassed 5.5 million across both Apple and Android devices.
“IRS2Go’s updated features make it easier than ever for people to check on their refunds and get important tax information,” said IRS Commissioner John Koskinen. “The surge in downloads reflects our interest in providing our nation’s taxpayers ...
- Page 1 of 2