In the last blog, we mentioned that for many tax filers, the IRS was delaying e-file acceptance; it will not process certain kinds of tax returns until their system has been modified to incorporated tax law changes passed very near the end of 2010. The IRS has announced it will [...] Read more »
IRS Annouces Delays in Processing for Itemizers & Other Taxpayers
Because the congress passed certain extenders very late last year, the IRS has to play catch up. The IRS has asked tax preparers NOT to e-file certain kinds of tax returns until they give the go-ahead, some time in mid-to-late February, 2011. What does this mean? Among the affected taxpayers are those that itemize, take the [...] Read more »
Gear up for expanded 1099 information reporting starting for tax year 2011.
4/14/2011 Update: Repealed. On April 14, 2011 President Obama signed the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 into law. It repealed the expanded 1099 information reporting requirements that were included in the Patient Protection and Affordable Care Act. Here is the legislative summary, [...] Read more »