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Income Tax

back taxes

Tax-Relief Company Agrees To Refund $1.5 Million To Scammed Customers In 18 States

JK Harris & Company is a tax-relief company in South Carolina that promises to help people settle IRS debts for "pennies on the dollar" by helping them file an Offer in Compromise (OIC) on their behalf. What they didn't tell consumers is that "the IRS accepts only a small number of these kinds of cases," writes digtriad. What they also didn't mention is that they'll accept your money even if they know you won't qualify for an OIC, and they won't give refunds. "In many cases, JK Harris did not even apply to the IRS to help consumers as promised. But the company still refused to give those consumers their money back." Now JK Harris has made an agreement with attorneys general in 18 states to change its advertising and pay $1.5 million in restitution. More »

taxes

Your Economic Stimulus Payment Questions Answered By The IRS

The IRS has a new and improved stimulus payment FAQ up and running on their website, so if you have additional questions you should check it out. Of note, the IRS has now definitively said that those who owe back taxes, or have delinquent child support payments or student loans will have their payments offset. More »

procrastination

It's Tax Day! Here Are Some Post Offices That Are Open Late...

Today is the day, folks. You'll need to finish up your taxes and send them on their way to the IRS. More »

taxes

Congress Postpones AMT Expansion For One Year

Today, Congress approved a one-year postponement of the Alternative Minimum Tax, which is good news for an estimated 25 million Americans (mostly middle-class) who would have qualified for it this year. The IRS said that due to the last-minute nature of the change, some refunds may be delayed: "Changes in the tax code require substantial work, especially in reprogramming I.R.S. computers." The IRS says that "within 72 hours it would post on its Web site revisions to a dozen forms affected by the change." More »

taxes

IRS Has $2.2 Billion For People Who Haven't Filed a 2003 Tax Return

If you're one of the 1.8 million people who haven't bothered to file your 2003 tax return... it's not too late! No, really. It's not. You have until April 17, 2007 to file. And why wouldn't you? The IRS has 2.2 billion dollars waiting for you to collect. If you thought you were in trouble, don't worry. There's no penalty for filing a late return if you qualify for a refund. More »