Recent Tax News
Federal and state tax codes are constantly changing. You can be assured that our firm will always be up to date on the latest changes that will affect your financial outlook. More than just keeping up on the most recent changes, we'll be constantly looking at how you can take advantages of those changes to further your financial success. In case you want to do some light reading of your own, check out some articles we think are worth reading:
2015 Tax Filing Season Volume Outpacing Prior Year
WASHINGTON — The 2015 tax filing season is off to a strong start with most taxpayers filing their returns electronically and choosing direct deposit for their refunds, according to the Internal Revenue Service.
As of Jan. 31, the IRS received more than 14 million tax returns this year. More than 13 million of those returns have been filed electronically, an indication that more taxpayers are realizing the benefits that e-filing offers.
TurboTax Restarts E-Filing of State Returns After Fraud Concerns
The popular TurboTax software restarted the e-filing of state tax returns on Friday after temporarily stopping them because of reports of fraud.
The company was concerned that criminals were using taxpayer's identity information (like a Social Security number) stolen from somewhere else to file fake returns via TurboTax and collect refunds.
Senator Blast IRS Commissioner Over Waste, Bonuses, Bad Service, More
Key Senators, including Sen. Orrin Hatch (R-UT) and all other Republicans on the Finance Committee, fired off a letter to IRS Commissioner John Koskinen after the IRS chief warned of a bad tax filing season due to budget cuts. It’s not budget cuts that are to blame, the Senators, suggested, it’s the IRS waste.