Cormier & Rea announce additional office at 483 Summer St, Ste 2000, Arlington, MA
Blog posts concerning Federal Income Tax tips, changes, updates, news and more
The IRS is testing a pilot program in which it will mail a new notice to about 31,000 taxpayers who may be underreporting income on tax returns. The IRS designed the so-called soft notice to encourage taxpayers to self-correct tax returns and to increase voluntary compliance among an estimated 15 million potential cases of underreporting …
Individuals who believe that they may be a victim of identity theft can call the IRS identity theft hotline at 1-800-908-4490 (8:00AM-8:00PM local time). Also, the IRS website includes detailed information on what to do if you believe your SSN has been fraudulently used to file a tax return or to secure employment.
Congress passed (in a 74-25 Senate vote on October 1 and a 263-171 House vote on October 3) the Emergency Economic Stabilization Act of 2008 (HR 1424). President Bush signed the bill into law the day the House passed it. What’s in the bill? A list of highlights follows, but for those of you who …
According to IRS, certain advanced lean-burn technology vehicles (these generally run on diesel fuel) are now eligible for a tax credit. As a result, the following vehicles now qualify: 2009 Volkswagen Jetta 2.0L TDI Sedan (manual or automatic)–$1,300 2009 Volkswagen Jetta 2.0L TDI SportWagen (manual or automatic)–$1,300 Mercedes Benz GL 230 Blue TEC–$1,800 Mercedes Benz …