Archive for the ‘IRS’ Category

A $42M Reminder Letter

March 12, 2008

Perhaps the IRS should also inform taxpayers of their share of the $9 trillion national debt, which as of today is more than $30,000 per American. Congress should be ashamed of itself for approving a ‘stimulus’ bill that included funding for this wasteful mailing. The IRS should instead ask Congress for permission to use this funding to crack down on fraud and close the tax gap.

That’s U.S. Senator Tom Coburn (R-OK), quoted in The Oklahoman, criticizing the IRS for spending $42,000,000 simply to notify taxpayers that in order to receive their $300-$600 tax rebates, they’ll need to file a 2007 tax return.

Did anyone think they didn’t need to file the 2007 tax return?

Governor Brad Henry: File your Taxes for Free

March 5, 2008

ABC News Channel 8 says the Oklahoma Governor is encouraging everyone to take advantage of IRS Free File:

Henry says the Free File Alliance program can be especially helpful by eliminating extra stress for Oklahomans on active military duty.

The free programs are available to anyone with an adjusted gross income of $30,000 or less, qualifies for the federal Earned Income Tax Credit or is on active military duty with an adjusted gross income of $54,000 or less.

The Tulsa World reports that Oklahoma is one of only 21 states that also has e-file alliances at the state level, and:

Ron Scheberle, representing Intuit Financial Freedom Foundation, said filing an income tax return is a prerequisite for collecting the federal tax rebate approved by Congress and signed into law by President Bush.

No word yet on how we can get our taxes paid for free, as well.

Good News! Your Tax Rebate won’t be Taxed (Again)

February 12, 2008

Am I the only one who hadn’t started worrying about this, yet?

Not a problem, however, because Paula Ross of the Oklahoma Tax Commission explains that the rebates are not considered income at the Federal or State level, and will not be taxed as such. However, if you already owe the government for back taxes, child support, or student loans, the rebates are fair game.

When? The A.P. is reporting:

The rebate checks are expected to start being mailed out in May with most Americans getting checks of $600 for individuals and $1,200 for couples filing their tax returns jointly. In addition, families with children will get an extra $300 per child.

One word of caution: You aren’t the only one who’s trying to figure out how to get your hands on your money. Industrious criminals are already using e-mail and phone scams. According to the IRS:

The goal of the scams is to trick people into revealing personal and financial information, such as Social Security, bank account or credit card numbers, which the scammers can use to commit identity theft.

Typically, identity thieves use a victim’s personal and financial data to empty the victim’s financial accounts, run up charges on the victim’s existing credit cards, apply for new loans, credit cards, services or benefits in the victim’s name, file fraudulent tax returns or even commit crimes. Most of these fraudulent activities can be committed electronically from a remote location, including overseas. Committing these activities in cyberspace allows scamsters to act quickly and cover their tracks before the victim becomes aware of the theft.

For more information on how to protect yourself from identity theft go here, and on the IRS rebates, go here.