Almost 40 million tax refunds worth nearly $125 billion have been issued as of Feb. 20, according to Internal Revenue Service statistics released today. The average refund is $3,120.The IRS has processed nearly 50 million returns, about one-third of the total...
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Month: March 2015
DOJ Update on Efforts Concerning Fraudulent Tax Professionals
The Department of Justice has released the results of its ongoing efforts to identify and extinguish the practices of fraudulent tax return preparers and tax scheme promotors. In the press release, the DOJ describes its most recent activities in stopping violations of...
One Billion Dollars Due to One Million Taxpayers
On March 11, 2015, the IRS reported that it has refunds totaling $1 Billion due to taxpayers who did not file a 2011 federal income tax return. California leads the nation with the most refunds due, with over 103,000 taxpayers failing to file their 2011 return.In...
Tax Considerations for Self-Employed Individuals
"Self-employed" individuals include sole proprietors and independent contractors. The Self-employment income can include income you received for part-time work. This is in addition to income from your regular job. According to the IRS, there are a few things to keep...
