|
 | Many readers have shared their experiences in dealing with the IRS in attempting to claim the adoption tax credit, which for 2010 was made a fully refundable credit. Taxpayers have experienced delays, multiple requests for supporting documents, and cross-communications. We've been mostly in the dark about what's going on behind the scenes, but new data sheds some light on what's going on. | |
TIGTA reveals $897 Million in Adoption Credits, Inefficiency
The IRS appears to be deluged. 72,656 tax returns claiming the adoption credit, worth a total of $897 million in tax credits. And over half of these returns are being reviewed by auditors in attempt to determine which tax returns are genuine and which are fraudulent. Providing extra resources to ensure the tax credits are issued properly is certainly necessary, but TIGTA also revealed that the IRS has no definite time frame for completing its audits.
| IRS Webinar on Foreign Bank Account Reports
Last week I attended a special Web-based seminar held by the IRS about the Foreign Bank Account Report (FBAR). The presentation covered essential information about the FBAR program and the IRS plans to make an archive of the presentation available, eventually. In the meantime, I have posted the PDF file that the IRS made available as a download for participants. There was also a question and answer session held at the end of the seminar, and I've summarized that information since it's not part of the PDF document.
| The Tax Tables
Readers quite frequently ask about where to find the tax tables. This articles shows you where to find the tax tables and how to use them to find out what your federal tax liability is.
| Michigan Tax Amnesty Deadline Approaches
Michigan is offering a tax amnesty covering personal and business taxes. The program has a June 30th deadline.
| |
| | Tax Planning: U.S. Ads
| | | | Featured Articles | |
| | | More from About.com | | | | | | Summertime in New England
Whether you're into biking or ziplining, dining in style or discovering works of art, you'll find it in New England. More>
| | | | London for Free
Who says a visit to London has to break the bank? Discover more than 100 free things to do, see and discover. More>
|
| | | | Sign up for more free newsletters on your favorite topics | | | | You are receiving this newsletter because you subscribed to the About Taxes newsletter. If you wish to change your email address or unsubscribe, please click here.
About respects your privacy: Our Privacy Policy
Contact Information:
249 West 17th Street
New York, NY, 10011
© 2011 About.com | | | | |
Must Reads | |
Advertisement
 | |
