The Tax Preparation Blog

Posts Tagged ‘preparation’

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

Industrial Minerals Files Amended NI 43-101 Technical Report and Clarifies Historical Technical Disclosure

OTTAWA, ONTARIO–(Marketwire – Feb. 22, 2011) – As a result of a review by the British Columbia Securities Commission (the “BCSC”), Industrial Minerals, Inc. (“IDSM” or the “Company”) (OTCBB:IDSM) has filed, and its 42% owned subsidiary Northern Graphite Corporation (“Northern”) will file shortly, an amended and restated technical report with respect to the Bissett Creek graphite project located …

Capital Professional Associates – Ottawa

Canadian Oil Sands’ 2010 Cash from Operating Activities and Net Income More Than Doubles Over 2009

CALGARY, ALBERTA–(Marketwire – Jan. 27, 2011) – A

YYCFL 2011-01-26 Calgary City Council – UE2011-02 Fluoride – January 26, 2011

Question: can i contact somebody who has done m.com or tax ppl?

i am currently doing m.com frm du n i ma really struggling abt my preparation for “principles and practice of taxation and indian tax system” so if anybody can help me PLZ PLZ PLZ…. the course content is : 1) international comparision of tax; tax-GDP ratios, 2)tax base and tax policy- determinants of tax yeilds, classification of tax, 3) tax equity: benefit principle of taxation, ability to pay principle of taxation 5) Incidence of tax 6) trends in GDP-Tax ratios- relative roles of direct and indirect taxes, distribution of tax burden- buoyancy and elasticity of tax revenues 7) tax evasion and generation of black money

Answer: Please re-post this in plain English. Capitalization, grammar, paragraph structure, and punctuation count.

Community Calendar

Submissions for Community Calendar are required 14 days preceding the date of publication. Send to: Niles Managing Editor, Pioneer Press, 3701 W. Lake Ave., Glenview IL 60026. Information may be faxed to (847) 486-7495 or e-mailed to mbottari@pioneerlocal.com.

Tax Marketing 101-Build Your Tax Practice

Greg Wilcox: Delayed housing project to start construction

The San Fernando Valley’s residential construction sector is finally getting some action. The 43-year-old shuttered Kmart store at Corbin Avenue and Plummer Street in Northridge has been demolished in preparation for construction of an apartment complex.

Tax Preparation Los Angeles CA | Tax Services Los Angeles CA