The Tax Preparation Blog

Archive for the ‘Tax Preparation Cost’ Category

Question: What explanation will help recover my late 2003 tax return from IRS’ Statute of Limitations 3-year-max-law?

My 2003 income tax was incomplete and needed to be filed by April 15th, 2007 but I didn’t get around to filing it until late May/early June because I didn’t have the fee for HR Block. IRS says I don’t owe(am due a refund) but that the Statute of Limitations Law allows me to file up to 3 years late, and I was 3 months over(so, they’re holding it)… I talked to an IRS attendant & she gave me the address to write to the IRS Service Center/collections. She suggests that I don’t just say that I forgot or that I didn’t know, b/c “ignorance of the law is no excuse”, as she stated. So now the IRS is holding my return money from that year, but I really need it asap. ARE THERE ANY EXCEPTIONS TO THAT LIMITATIONS LAW which I could use in my letter. It was an honest mistake but it doesn’t give them the right to keep my hard earned money. Some1 plz help ASAP. Maybe you know of the limitations laws and can enlighten me on what would possibly work?? Maybe my situation alone was good enough?

Answer: About the only way that anything would work, was if you were physically unable to file the 2003 within the 3 year deadline (you were in a coma, you were held hostage). Saying that you didn’t have the H&R Block fee is not good enough. I do know the limitations laws, and am sorry to have to inform you that you are out of luck with claiming the refund. The only way out that I can think of is if you had filed for an extension (and you would have had to file a 2nd extension as well) for the 2003 return. If you had filed an extension, that would have extended the filing of the 2003 return originally to August 15, 2004 (which considering that today is 8/23 you’d be out of luck), and if you had filed for a 2nd extension (giving 2 additional months) that would have extended the filing to October 15, 2004, which would extend the 3 years to file to October 15, 2007. If you didn’t file an extension or only filed the first extension, I’m sorry but you are out of luck totally, unless you were in the coma or held hostage for 3 years (maybe H&R Block held your return hostage until you paid them, but that doesn’t count).

PS, not sure what M is suggesting to write off for 2008 (should be 2007). If it’s the tax prep fee, that needs to be claimed on Schedule A – Itemized Deductions under miscellaneous deductions, and has to exceed 2% of AGI for the excess to be deductible. If M is suggesting to write off the lost refund, you can’t do that.

Diana Clement: Best not to bury head in the sand over tax

The IRD has teeth and isn’t afraid to bare them at ‘non-compliant’ taxpayers.The spectre of tax returns makes some people bury their heads in the sand. Thousands of them every year, in fact.With the end of the financial year having…

2009 tax changes brought to you by Corey & Associates Tax Accountant 305-823-9228

Question: What is a reasonable fee for tax preparation of Federal Tax and State Tax that is pretty much straightforward?

the standard deductions are taken.

Answer: Free!
Millions of taxpayers that made less than $56,000 can e-file their federal return for free. The IRS allows you to search for Tax Services that correspond to your needs.
Depending on your state, your state return may be free as well. Check your state’s Dept. of Revenue/Taxation and find out.

When It Pays to Itemize

The enhanced standard deductions that many taxpayers took advantage of on their 2009 tax returns — for buying a new car or paying property taxes when they didn’t itemize — are history. Without

Two Bills Introduced In 112th Congress Would Repeal Federal Estate Tax: H.R. 86 & H.R. 99

Last week, two bills were introduced in the U.S. House of Representatives that propose to repeal the

Sheldon Richman at FFF: “Capitalism” vs. the Free Market

Question: Cheap Tax Preparation – Las Vegas?

Does anyone who lives in Las Vegas, NV know where to go to get taxes prepared where it won’t cost an arm and a leg ?? I went to H & R Block here last year, and for two W2’s, they charged me almost $300 !! I appreciate any suggestions. Thank you!

Answer: If you prepare your taxes online it would cost you only a fraction of that! Most people don’t realize that this is really an easy process.

See here for reviews of top online tax prep sites:

http://www.tax-easy.com/

City panel finishes work on ’11 budget

The Sherwood Budget Committee met Monday to finish the city’s 2011 general fund budget in preparation for presenting it to the City Council on Dec. 27.

How you can Own a Liberty Income Tax Preparation Business

NPR Reports Third Quarter 2010 Results

CALGARY, ALBERTA–(Marketwire – Nov. 10, 2010) – Northern Property REIT (TSX:NPR.UN) announced its financial results for the 3 and 9 months ended September 30, 2010. H

Signing of Last Will & Testament and post signing activity