Archive | Fed & State Notices

IRS Operations during the lapse in appropriations

Due to the current lapse in appropriations, the IRS on Monday released a memo describing the scope of the limited operations they would be offering  until normal government functions are restored.  In the memo, the IRS assured the American taxpayer that the “underlying tax laws remain in effect and all taxpayers should continue to meet […]

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All Legal Same-Sex Marriages Will Be Recognized for Federal Tax Purposes

In late August 2013, the U.S Department of the Treasury and the IRS ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes.  The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that does […]

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IRS to increase audits of prior and subsequent year tax returns In an August 27, 2013 report, the Treasury Inspector General for Tax Administration (TIGTA) found the IRS needs to strengthen its correspondence audit selection process by auditing more tax years of noncompliant tax filers.  Correspondence audits are the most economical type of IRS audit; […]

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Federal Tax Changes for 2013

Office in the home deduction. The IRS announced a new simplified formula for calculating the office in the home deduction for self-employed individuals.  You may now deduct $5 per square foot up to a maximum of 300 square feet or $1500 starting on 2013 tax returns.  The IRS believes this will reduce the record keeping […]

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