Posts Tagged ‘Tax Refunds’

IRS Gears Up for Flood of Refund Requests for NOL Carrybacks

Tuesday, March 31st, 2009

CCH (http://tax.cchgroup.com/) reports:
The IRS is preparing to process an expected surge in refund requests resulting from the enhanced net operating loss (NOL) carryback in the American Recovery and Reinvestment Act of 2009 (P.L. 111-5) (2009 Recovery Act), Linda E. Stiff, deputy commissioner (Services and Enforcement) said on March 30. Stiff also reported that the White House and the Treasury Department are strongly supporting the Service’s international tax enforcement activities. Stiff
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$1.3 Billion in Unclaimed Tax Refunds Awaits Millions of Taxpayers Who Neglected to File 2005 Tax Returns

Wednesday, March 4th, 2009

The government estimates that unclaimed refunds totaling approximately $1.3 billion are waiting to be claimed by about more than a million taxpayers who neglected to file a federal income tax return for 2005 and are eligible for refunds. However, to collect the money, a return for 2005 must be filed with an IRS office no later than Tuesday, April 15, 2009.
The IRS also estimates that about half of the taxpayers
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Posted in Tax news and tips, tax help | 1 Comment »

The 5 Types of Tax Scams You Should Watch Out For!

Thursday, October 2nd, 2008

Everyone is anxious for news of tax refunds and economic stimulus payments, right? Scam artists obviously think so.  “Just click the link in this e-mail”, the IRS official apparently requests. Scam artists are luring U.S. taxpayers with claims of information about upcoming refunds and payments to collect information they can use for identity theft.
In 2008, so far, taxpayers reported to the IRS more than 1,600 such e-mails, known as “phishing”
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Posted in IRS Question Corner, IRS Tax Cases, IRS Times and Inquirer, Tax Resolution Options and Alternatives, Tax Scams | No Comments »