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Internal Revenue Service Archives

How divorce can throw a wrench in your tax returns

The IRS has some very interesting rules when it comes to reporting the income and assets of divorcing couples. Before you check the "married" or "single" box on your tax return, keep in mind that the IRS wants to know what your marriage status was on Dec. 31. If your divorce became final on Jan. 1, you must check the married box.

Massachusetts tax revenue up over last fiscal year

The Massachusetts Revenue Department announced that tax revenue for the fiscal year that ended June 30 was up $600 million over last year. Total 2012 tax collections throughout the state were more than $21.1 billion, up 2.9 percent over 2011. Those numbers exceeded projections by about $107 million thanks to sales taxes, corporate and business taxes and motor vehicle sales taxes.

Deductions reminder and other small business week celebrations

Happy small business week! The IRS changed a few deductions this year, so now that we've wrapped up 2011, let's look ahead to what 2012 will bring us. Here's a little reminder of what you can and cannot deduct if you are self-employed in Boston under the new IRS allowances, including Social Security.

Taxes done? What to keep and what to toss

As I'm sure you've heard Bostonians do not need to file taxes until Tuesday, April 17. While taxes are typically due on April 15, that date falls on a Sunday. Obviously, Monday would be the next logical choice. But this year Monday, April 16 is a Massachusetts state holiday, Patriots' Day. Or in other circles, Marathon Monday. (Since 1969, we've had three-day weekends during April's third week.) Monday, April 16, also happens to Emancipation Day, a holiday in Washington, D.C., and our IRS offices are also closed on Monday.

Closer to IRS deadline, beware of tax scams

As we close in on another tax return deadline, it's important to beware of fraud and theft schemes that strike during this time of year. We are usually more responsive and let our guard down to fraudulent inquiries during peak tax season, so be vigilant. Make sure you do not throw any personal, credit or tax information into the garbage after you file your taxes. Do not reply to any emails from the IRS with your social security number or tax information. The IRS does NOT send individual emails to consumers.

IRS Changing its Stance Toward Innocent Spouses

Innocent spouses linked to those accused of tax crimes may have an easier time proving their innocence. In a statement released last month, the Internal Revenue Service announced a change in how they will evaluate "equitable relief" cases, which are situations where spouses who signed joint tax returns (along with those convicted of tax fraud) ask to be freed of joint liability for their spouse's wrongdoing.

IRS not offering much guidance for married same-sex tax payers

The Internal Revenue Service is not known for making things easy on taxpayers. This is certainly true when it comes to same-sex couples who need to file taxes in Massachusetts. The reason the problem is so confusing for many is that the federal government does not yet recognize same-sex marriages or civil unions. And this lack of recognition applies to the IRS as well.

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