Category Archives: Tax Changes

IRS interest rates rise for the second quarter of 2016

The interest rates the IRS charges on underpaid taxes and pays on tax overpayments have gone up for the second quarter of 2016 (April 1 through June 30). Here are the new rates for individuals and corporations. For individuals: 4% … Continue reading

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IRS publishes tips for amending returns

If you discover an omission or error made on your already filed tax return, you may need to file an amended return. Here are some IRS tips for amending returns. 1. Use Form 1040X. You must file a paper amended … Continue reading

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Avoid Future Tax Problems: Start Planning Next Year’s Tax Return Now

  For most taxpayers, the tax deadline has passed. But planning for next year can start now. Being organized and planning ahead can save time and money in 2014. Here are six things you can do now to make next … Continue reading

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IRS Expands Eligibility for Worker Reclassification Program

On Dec. 18, 2012 the IRS announced a revision to its voluntary classification settlement program (VCSP) that provides partial relief from federal employment taxes for eligible taxpayers who agree to prospectively treat workers as employees. The original program, established in … Continue reading

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IRS Practice and Procedure Change: Identity Theft

Tax identity theft continued to be a concern for the IRS in 2012. In the first 10 months of the year, the IRS identified 1.2 million incidents of tax identity theft. The IRS inventory of tax identity theft cases increased … Continue reading

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IRS Practice and Procedure Change: IRS Matching Programs

2012 was a breakthrough year for IRS automated matching programs. In 2012, it’s likely that the IRS exceeded the 4.7 million individual CP2000 (under-reporter) notices that it sent in 2011. In 2012, this was the only major IRS compliance program … Continue reading

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IRS Practice and Procedure Change 2012 & 2013

While 2012 was a down year for IRS enforcement revenue, look for a rebound in 2013, when the IRS should receive a significant budget increase. In February 2012, President Obama proposed an IRS budget increase of $944 million, with more … Continue reading

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Supreme Court Grants Certiorari To Defense Of Marriage Act Challenge in Estate Tax Case

    At Lefstein-Suchoff CPA & Associates, LLC we assist those faced with various tax problems, such as IRS problems including IRS Audits.  To do so, we keep up to date with recent Court decisions and IRS Rulings.  In our … Continue reading

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