Levins Tax Law
Schedule your initial consultation:
866-485-7019

Internal Revenue Service Archives

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.

IRS targets Sherwin-Williams

If the Sherwin-Williams Company was not already aware, it is finding out now that dealing with the IRS can be difficult, as many Massachusetts residents surely know. In late October, the company said that it will log a $75 million charge in the fourth quarter. The charge is linked to a settlement Sherwin-Williams reached with the IRS over federal tax deduction claims related to the company's employee stock ownership plan. According to Sherwin-Williams, the charge amounts to 72 cents per share and will lessen shareholders' equity by about $51.2 million in the fourth quarter. The IRS took issue with the tax deductions Sherwin-Williams claimed, demanding that the company pay sizable penalties and excise taxes.

IRS revokes nonprofit status on historic Massachusetts museum

Massachusetts residents may be interested in a case involving the revocation of an organization's nonprofit status. The Marine Museum, which was established back in 1968, has lost its nonprofit status with the IRS for not complying with federal regulations pertaining to filing. The museum initially exhibited items that had been donated to it, including models from the original U.S.S. Titanic 1953 film and replicas of the Fall River Line steamers.

Email Us For a Response

Resolve Your Tax Problems

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Framingham Office
1671 Worcester Road
Suite 304
Framingham, MA 01701

Framingham Tax Law Office

Boston Office
38 Newbury Street
6th Floor
Boston, MA 02116

Boston Tax Law Office

By Appointment Only