Take Note of the Distinctive Features of Roth IRAs For some people, Roth IRAs can offer income and estate tax benefits that are preferable to those offered by traditional IRAs. However, it’s important to take note of just what the distinctive features of a Roth IRA are before making the choice. Traditional vs. Roth The biggest difference between traditional and …
Don’t Let the Kiddie Tax Play Costly Games with You & 4 Questions to Ask Before Hiring Household Help
Don’t Let the Kiddie Tax Play Costly Games with You It’s not uncommon for parents, grandparents and others to make financial gifts to minors and young adults. Perhaps you want to transfer some appreciated stock to a child or grandchild to start them on their journey toward successful wealth management. Or maybe you simply want to remove some assets from …
NTA Blog: The National Taxpayer Advocate Responds to Private Debt Collectors’ Contentions
Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog.
3rd International Conference on Taxpayer Rights Videos Now Available
Didn’t make it to the 3rd International Conference on Taxpayer Rights? Catch up on what you missed and enhance your knowledge of taxpayer rights on a global scale. Videos are now available from each panel discussion and presentation conducted during the 3rd International Conference on Taxpayer Rights. Experience conversations held among international tax leaders in their fields throughout the conference …
Low Income Tax Clinic Celebrates 20 Years of Taxpayer Service
July 22, 2018 marks the 20th anniversary of Low Income Tax Clinics (LITC). Low Income Tax Clinics were enacted by Congress on July 22, 1998 as part of the IRS Restructuring and Reform Act of 1998. The LITC program today consists of 134 clinics in 48 states and the District of Columbia.
NTA Blog: Overall the Filing Season at Taxpayer Assistance Centers Ran Smoothly, But Room for Improvement Remains
Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog.
NTA Blog: “Real” vs. “Unreal” Audits and Why This Distinction Matters
Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. Around five months ago, in my 2017 Annual Report to Congress, I identified IRS audit rates and the distinction between “real” and “unreal” audits, as the fourth Most Serious Problem facing taxpayers.
Success Story: TAS Advocates for Penalty Abatement
Every year, the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This story is only one of many examples of how TAS helps resolve taxpayer’s tax issues. All personal details are removed to protect the taxpayer’s privacy.
NTA Blog: A Few Thoughts About The National Taxpayer Advocate’s Fiscal Year 2019 Objectives Report
Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. In lieu of posting a blog this week I would ask that you check out my June Report to Congress instead.
Deducting Home Equity Interest Under the Tax Cuts and Jobs Act & Three Common Types of IRS Tax Penalties
Deducting Home Equity Interest Under the Tax Cuts and Jobs Act Passage of the Tax Cuts and Jobs Act (TCJA) in December 2017 has led to confusion over some longstanding deductions. In response, the IRS recently issued a statement clarifying that the interest on home equity loans, home equity lines of credit and second mortgages will, in many cases, remain …