Monthly Archives: October 2013
The Internal Revenue Service announced on Tuesday that it will delay the start of the 2014 tax filing season by approximately one to two weeks due to delays caused by the recent closure of the federal government.
Citing the need for “adequate time to program and test tax processing systems,” the service announced that it expected a one- to two-week delay in the start of tax season, and that it would start accepting and processing 2013 individual tax returns no earlier than Jan. 28, 2014, and no later than February 4. Tax season had been expected to start on January 21.
According to Acting Commissioner Danny Werfel, the service was exploring options to shorten the expected delay, but also noted, “Readying our system to handle the tax season is an intricate, detailed process, and we must take the time to get it right. The adjustment to the start of the filing season provides us the necessary time to program, test and validate our systems so that we can provide a smooth filing and refund process for the nation’s taxpayers.” The official start date will be announced in December.
For more information regarding tax season delay, contact Robert Burch at (773) 779-4447 or visit www.accountingtoday.com
How does this affect me?
A. You should continue to file and pay taxes as normal. Individuals who requested and extension of time to file should file their returns by October 15, 2013.
B. All other tax deadlines remain in effect, including those covering individuals, corporations, partnerships and employers. The regular payroll tax deadlines remain in effect as well.
C. You can file your tax return electronically or on paper-although processing of paper returns will be delayed until full government operations resume. Payments accompanying paper tax returns will still be accepted as the IRS receives them.
D. Tax refunds will not be issued until normal government operations resume.
E. Tax software companies, tax practitioners and Free File will remain Available to assist with taxes.
F. No live telephone customer service assistance will be available, however most automated toll-free telephone application will remain operational. IRS walk-in taxpayer assistance centers will be closed.
For more information on IRS Shutdown limitations, contact Robert Burch at (773)779-4447 or visit taxprotoday and irs.gov.
Consumers need to know that identity theft is more prevalent during tax season and holidays. Identity thieves may use your information to file a fraudulently tax return and claim a refund. In other cases, the identity thief uses the taxpayer’s personal information in order to get credit cards, personal loans, mortgage, etc. The legitimate taxpayer may be unaware that anything has happened until they file their return or apply for credit. On the prevention side, the IRS has taken numerous steps to protect taxpayers by putting new processes in place for handling tax returns.
To report identity theft, fraud, or misuse of Social Security number, the national’s consumer protection recommends that you take the following steps:
Step 1 Place a fraud alert on your credit file by contacting one of the three companies:
A. Equifax – 1 800 525-6285
B. Trans Union 1 800 680-7289
C. Experian 1 888 397-3742
Step 2 Review your credit report for inquires from companies you have not contracted; accounts you did not open; and debt on accounts that you cannot explain.
Step 3 Close any accounts you know, or believe, have been tampered with or opened fraudulently.
Step 4 File a report with your local police or the police in the community where the identity theft took place.
Step 5 File a complaint with the Federal Trade Commission by calling them at 1-877-438- 4338.
For more information about identity theft, contact Robert Burch at (773) 779-4447 or visit IRS Identity Theft Protection page at IRS.gov. home page.