Clark Howard warns against fake private debt collectors

6 Tax Mistakes Procrastinators Make & How to Avoid Them

6 Tax Mistakes Procrastinators Make & How to Avoid Them

An Offer in Compromise allows the taxpayer to settle a tax debt for less than what's owed.

The resumption of the program comes amid a wave of telephone scams in which fake government agents contact taxpayers asking for the payment. Eligible current students can also access the American Opportunity Credit, which can cover up to $2,500 annually for four years, and the Lifetime Learning Credit, which can cover up to $2,000 per tax return. But in 2015, Congress passed a law that requires the IRS to restart the program.

The IRS recently announced it's going to start using private debt collectors again. People will also only be contacted if they have years of outstanding debt.

According to IRS.gov, the website for the Internal Revenue Service, the due date for federal income tax forms - and, by extension, your state and local tax forms - has been shifted three days, granting filers a little more time to prepare.

If you get a call from one of these agencies without receiving written notice from the IRS, that should be a red flag that something is not right. Additional expenses that you pay at closing - including prepaid interest or points - may be tax-deductible, if they're not already included on your Form 1098 that reports home mortgage interest, said Lisa Greene-Lewis, a TurboTax tax expert. Once the IRS has notified a taxpayer about the transfer, the private company will send their own letter and a representative confirming the transfer.

S Korea test fires 800km-range missile
The North's latest missile launch also came during annual military drills between the United States and South Korea. Since taking office, Trump has left open the possibility of military action against North Korea.

And their collection agencies will always send you a letter before calling you.

She told me, "They talked taxes and IRS". If you do get calls, they are scammers. The good news is you usually only have to submit one form to do it. In 2006, the Government Accounting Office conducted an undercover audit of unenrolled tax return preparers. Taxpayers who earned more than $64,000 a year ago can use the IRS Free File Fillable Forms, the electronic version of IRS paper forms. Taxpayers who cannot meet the April tax filing deadline can also use IRS Free File (with no income restrictions) to request an automatic six-month extension until Monday, Oct. 16, 2017.

Transposing just one number could cause huge headaches, because the IRS makes clear on Form 8888 that it is not responsible for a lost refund if you enter incorrect account information.

The National Treasury Employees Union (NTEU), which represents IRS employees, has been a strong opponent of private debt collection. "We will be watching closely for any such schemes as the private collection program gets underway". "We don't collect taxes on iTunes cards or gift cards, and we don't do it with aggressive, threatening phone calls". If you stand up for yourself and suggest a compromise, such as only disallowing half the deductions and letting you claim the other half, auditors will often either accept your compromise or make a counter-compromise. But these mistakes can mean the difference between you thinking you're getting a refund and the reality that you actually owe taxes, so be sure to check your calculations carefully.

If you're paying a tax owed by check, don't attach it to your tax return. But while the IRS will accept payments via credit card, it won't pay the "convenience fees" credit card companies charge retailers. In 2016, tax-related identity theft reports fell by more than 50 percent, resulting in 275,000 fewer victims of tax fraud than in the prior year. The IRS looks at the taxpayer's income and assets to make a determination regarding the taxpayer's ability to pay.

Recommended News

  • Palace 'very hopeful' over Zaha stay - Parish

    Palace 'very hopeful' over Zaha stay - Parish

    Allardyce added: "It's an absolutely outstanding victory for us, particularly in the position we're in". We have to keep winning our games.
    White House Responds To Nunes Recusal With Eight Words

    White House Responds To Nunes Recusal With Eight Words

    He added that he wants to speak to the ethics office as soon as possible "to expedite the dismissal of these false claims". There was concern that the presser showed Nunes was too entangled with Trump to properly investigate the Trump campaign.
    WWE Legend 'The Undertaker' Calls It A Day at the WrestleMania

    WWE Legend 'The Undertaker' Calls It A Day at the WrestleMania

    In the end, he left his long coat, hat, and gloves in the ring which left many believing that the " Phenom " was done in the ring. He began his career at the age of 19 and quickly established himself as one of the most promising young wrestlers in the field.
  • Fiancee of ex-NFL star testifies in his double-murder trial

    Fiancee of ex-NFL star testifies in his double-murder trial

    On top of the murder charges, Hernandez is facing a charge of intimidating a witness in relation to Bradley's non-fatal shooting. He's already serving a life sentence in prison without parole for the 2013 murder of Odin Lloyd.
    'He is a worthy successor' - Neymar ready to replace Messi, insists Sampaoli

    'He is a worthy successor' - Neymar ready to replace Messi, insists Sampaoli

    Sevilla wasted another golden chance in the 24th minute when a Samir Nasri free kick was headed over by an unmarked Vitolo. Messi bagged a brace after Luis Suarez's overhead kick had given the hosts a 25th-minute lead.

    Chinese president Xi Jinping arrives in USA for talks with Donald Trump

    For him, as for many here, the military option that the Trump administration said remains "on the table" is unthinkable. Trump wants China's help ending North Korea's testing of nuclear weapons.
  • Comcast Goes Mobile With Cellphone Service For Existing Customers

    Comcast Goes Mobile With Cellphone Service For Existing Customers

    Xfinity Mobile is launching soon. " Comcast clearly sees Xfinity Mobile as a profit maker not as a market disrupter", he says. In any case, Comcast says the first five lines on an Xfinity Mobile plan will have no access fees.
    Russian Federation  outlaws images of Putin as gay clown

    Russian Federation outlaws images of Putin as gay clown

    But it wasn't until six years later that homosexuality was dropped from a list of psychiatric disorders in Russian Federation . The Justice Ministry formally added the image last week to its index of banned extremist materials .
    Syria chemical attack death toll now at 72; new strikes hit

    Syria chemical attack death toll now at 72; new strikes hit

    The Organisation for the Prohibition of Chemical Weapons (OPCW) said it was "seriously concerned" by reports of Tuesday's attack. Speaking about Tuesday's gas attack , the White House condemned Assad but also lay blame on the Obama administration.
  • Environmental groups challenge Keystone XL pipeline approval

    Environmental groups challenge Keystone XL pipeline approval

    My office receives a good amount of correspondence regarding the Keystone XL pipeline, so I wanted to address that issue with you. President Donald Trump announced Friday that the project for TransCanada to complete the Keystone XL pipeline has been approved.
    Defeat of ballot measure likely ends MLS effort in St. Louis

    Defeat of ballot measure likely ends MLS effort in St. Louis

    The public voted to name the new San Diego soccer team, and the leading vote-getter should sound oddly familiar. Prop 1 had to pass for soccer to move forward because the sales tax hike triggered the use tax increase.
    Carter Page Russia Spy Meeting: 3 key takeaways on former Trump adviser

    Carter Page Russia Spy Meeting: 3 key takeaways on former Trump adviser

    Page was quickly cut from the Trump team following reports that federal investigators were probing his ties to Russian officials. The FBI was unable to arrest Mr Podobnyy and Mr Sporyshev as they had left the United States by the time the trio were indicted.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.