Sunday, June 28, 2015
Thursday, June 11, 2015
Friday, June 5, 2015
If You e-File and Have a Refund More than $10,000...
If you e-file and have a refund of more than $10,000, your filing will take longer because it has to be examined for fraud.
Calling the IRS, Visiting the IRS or Using the IRS Tax Advocate Service to Resolve an Issue
So first off, more than likely your issue will not be resolved in a single call or even in a single month for that matter (it can take a year a more). Visiting your tax office puts you in front of a person but that person has only the same limited capabilities of people on the phone. Tax Advocates provided by the IRS don't open cases for anyone unless they are in 'hardship.' They ask you to prove 'hardship' to open a case. An easy way to come up with proof is not to pay your power bill for a couple months and use the shutoff notice as proof to set up a meeting with your state's IRS advocate.
TIPS: READ ALL THESE BEFORE YOU BEGIN
TIPS: READ ALL THESE BEFORE YOU BEGIN
- If you head into the office, most people think it opens at 9am but it opens at 830am so get the jump on everyone. If the office is within 30 or 40 minutes drive, it will probably take less time to go to the office than to call on the phone.
- Keep track of every interaction. Date, time, notes and the IRS representative's ID #. Watch out on the phone, the reps try to throw the ID number as fast as they can to get you not to write it down but ask for it again immediately.
- Print out a transcript from the website.
- Have your return and all tax docs in front of you.
- Speaker phone. If not, use speaker on your mobile but have your mobile plugged into the charger.
- Be calm and have nothing else to do for at least a 4 hours.
- Use the bathroom AND don't use the mute button on your phone. I've missed representatives for both these reasons because they are VERY quick to hang up on anyone who doesn't immediately start talking. You literally have about 3 seconds and they hang up.
- Best time to call seems to be on a Friday mid-morning 9-11AM MST usually has only 15 - 30 min wait times.
- If you get the message to 'Call back on the next business day.' Try calling back every 15 minutes. Eventually the hold time will come under 60 minutes again and allow you to be on hold.
- Be polite and courteous. These people have little empathy and even less for people with the predictable rage and frustration. They'll quickly hang up on people and you have to start over.
Friday, May 22, 2015
Wednesday, April 15, 2015
A Dozen Key Points about Paying Your Taxes
Issue Number: IRS Tax Tip 2015-61
Inside This Issue
A Dozen Key Points about Paying Your Taxes
The IRS offers several payment options if you owe federal tax. Here are a dozen key points to keep in mind when you pay your taxes this year.
1. Never send cash. Electronic payment options are the quickest and easiest way to pay your tax.
2. Check out IRS Direct Pay to pay directly from your bank account. Access Direct Pay on IRS.gov. It’s secure and free. You will get instant confirmation that you have submitted your payment.
3. You can pay taxes electronically 24/7 on IRS.gov. Just click on the ‘Payments’ tab near the top left of the home page for details.
4. Pay in a single step by using your tax software when you e-file. If you use a tax preparer, ask the preparer to make your tax payment electronically.
5. Whether you e-file your tax return or file on paper, you can choose to pay with a credit or debit card. The company that processes your payment will charge a processing fee.
6. You may be able to deduct the credit or debit card processing fee on next year’s return. It’s claimed on Schedule A, Itemized Deductions.
7. Enroll in the Electronic Federal Tax Payment System. You can use EFTPS to pay your federal taxes electronically. You have a choice to pay using the Internet, or by phone using the EFTPS Voice Response System.
8. If you can’t pay electronically, you can still pay by a personal or cashier’s check or money order. Make it payable to the “U.S. Treasury.” Be sure to write your name, address and daytime phone number on the front of your payment. Also, write the tax year, form number you are filing and your Social Security number. Use the SSN shown first if it's a joint return.
9. If you pay by paper check, complete Form 1040-V, Payment Voucher. Mail it with your tax return and payment to the IRS. Make sure you send them to the address listed on the back of Form 1040-V. This will help the IRS process your payment and post it to your account. You can get the form on IRS.gov/forms at any time.
10. Remember to include your payment with your tax return but do not staple or clip it to any tax form.
11. Even if you can’t pay your tax in full, the IRS urges you to file your tax return on time. You should pay as much as you can with your tax return. That will help keep your penalty and interest costs down. You have options such as an installment agreement, which allows you to pay the balance over time. TheOnline Payment Agreement tool on IRS.gov is the easy way to apply.
12. To listen to a recorded message on this subject, call TeleTax at 800-829-4477. Select Topic 202, Payment Options.
If you found this Tax Tip helpful, please share it through your social media platforms. A great way to get tax information is to use IRS Social Media. You can also subscribe to IRS Tax Tips or any of our e-news subscriptions.
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