Suzanne Bryant CPA

IRS leaves out 500k ID theft victims. The IRS didn’t give more than half a million taxpayers that were victims of identity theft an identification number to smooth their filing process in 2013, according to an inspector general report released Tuesday. The tax agency has made battling identity theft a top priority, after paying out more than an estimated $5 billion in fraudulent refunds in 2013. As part of that battle, the IRS gives identity protection personal identification...Continue reading

Two Important Tax Deadlines Loom Reminder: Two important deadlines are coming up for millions of taxpayers. First is tomorrow, September 15. That's the deadline for those of us who make estimated tax payments every few months as part of our pay-as-you-go system. It's easy to overlook an estimated-... tax deadline because payment dates don't fall at the end of each calendar quarter. Even if you honestly miss the deadline, you may regret it. "If you do not pay enough tax, either through withholding or estirmated tax, or a combination of both, you may have to pay a penalty,"the Internal Revenue Service warns on its website. What is estimated tax? It's "the method used to pay tax on income that is not subject to withholding,'' the IRS says. This includes what you make from working for yourself, as well as interest and dividend payments you receive. It also includes "alimony, rent, gains for the sale of assets, prizes and awards,'' the IRS says. The other big deadline: Oct. 15. That's the filing date for " many people who got six-month extensions this year on their federal income-tax returns and who still haven't filed. That extension didn't give you more time to pay whatever you might have owed. But it did give you more time to file. Check with your state tax department for details on state deadlines. See more

What to do if You Get a Notice from the IRS Each year the IRS mails millions of notices. Here’s what you should do if you receive a notice from the IRS: Don’t ignore it. You can respond to most IRS notices quickly and easily. And it’s important that you reply promptly. ... IRS notices usually deal with a specific issue about your tax return or tax account. For example, it may say the IRS has corrected an error on your tax return. Or it may ask you for more information. Read it carefully and follow the instructions about what you need to do. If it says that the IRS corrected your tax return, review the information in the notice and compare it to your tax return. If you agree, you don’t need to reply unless a payment is due. If you don’t agree, it’s important that you respond to the IRS. Write a letter that explains why you don’t agree. Make sure to include information and any documents you want the IRS to consider. Include the bottom tear-off portion of the notice with your letter. Mail your reply to the IRS at the address shown in the lower left part of the notice. Allow at least 30 days for a response from the IRS. You can handle most notices without calling or visiting the IRS. If you do have questions, call the phone number in the upper right corner of the notice. Make sure you have a copy of your tax return and the notice with you when you call. Keep copies of any notices you get from the IRS. Don’t fall for phone and phishing email scams that use the IRS as a lure. The IRS first contacts people about unpaid taxes by mail not by phone. The IRS does not contact taxpayers by email, text or social media about their tax return or tax account. For more on this topic visit IRS.gov. Click on ‘Responding to a Notice’ at the bottom left of the home page. Also see Publication 594, The IRS Collection Process. You can get it on IRS.gov or call 800-TAX-FORM (800-829-3676) to get it by mail.

Identity theft remains a top priority for the Internal Revenue Service in 2014. Identity theft is one of the fastest growing crimes nationwide, and refund fraud caused by identity theft is one of the biggest challenges facing the IRS. This year, the IRS continues to take new steps and strong actions to protect taxpayers and help victims of identity theft and refund fraud. Stopping refund fraud related to identity theft is a top priority for the tax agency. The IRS is focused ...on preventing, detecting and resolving identity theft cases as soon as possible. The IRS has more than 3,000 employees working on identity theft cases. We have trained more than 35,000 employees who work with taxpayers to recognize and provide assistance when identity theft occurs. Taxpayers can encounter identity theft involving their tax returns in several ways. One instance is where identity thieves try filing fraudulent refund claims using another person’s identifying information, which has been stolen. Innocent taxpayers are victimized because their refunds are delayed. Here are some tips to protect you from becoming a victim, and steps to take if you think someone may have filed a tax return using your name: Tips to protect you from becoming a victim of identity theft Don’t carry your Social Security card or any documents that include your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN). Don’t give a business your SSN or ITIN just because they ask. Give it only when required. Protect your financial information. Check your credit report every 12 months. Secure personal information in your home. Protect your personal computers by using firewalls and anti-spam/virus software, updating security patches and changing passwords for Internet accounts. Don’t give personal information over the phone, through the mail or on the Internet unless you have initiated the contact or you are sure you know who you are dealing with. If your tax records are not currently affected by identity theft, but you believe you may be at risk due to a lost or stolen purse or wallet, questionable credit card activity or credit report, contact the IRS Identity Protection Specialized Unit at 800-908-4490 (Monday - Friday, 7 a.m. - 7 p.m. local time; Alaska and Hawaii follow Pacific time). If you believe you’re a victim of identity theft Be alert to possible identity theft if you receive a notice from the IRS or learn from your tax professional that: More than one tax return for you was filed; You have a balance due, refund offset or have had collection actions taken against you for a year you did not file a tax return; IRS records indicate you received more wages than you actually earned or Your state or federal benefits were reduced or cancelled because the agency received information reporting an income change. See more

NEWS FROM THE CALIFORNIA BUSINESS WORLD EDD AUDITS OF SMALL BUSINESSES It was revealed that the Employment Development Departments majority of audits result from "obstructed" claims. Obstructed claims are those involving people treated as independent contractors , but the worker had filed for unemployment when the work ended.

IRS Adopts "Taxpayer Bill of Rights;" 10 Provisions to be Highlighted on IRS.gov, in Publication 1 IR-2014-72, June 10, 2014 WASHINGTON The Internal Revenue Service today announced the adoption of a "Taxpayer Bill of Rights" that will become a cornerstone document to provide the nation's taxpayers with a better understanding of their rights. The Taxpayer Bill of Rights takes the multiple existing rights embedded in the tax code and groups them into 10 broad categories, maki...Continue reading

Your Obama Care Don't forget to let Covered California know if your financial situation changes and you are getting federal subsidies for your insurance costs. At year end when your taxes are due you will have to pay back any subsidies if you make more than you said when you signed up. Also, I have found that there is a cheaper insurance than Covered Cailifornia. It is http://mychristiancare.org/medi-share/. Good luck.

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