Refund Status Available From IRS Website |
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By using the “
Where’s My Refund” tool on the IRS website, Taxpayers can check on the status of their federal income tax refunds seven days after they e-filed their return. If they file a paper return, they can check four to six weeks after mailing their return.
What to Do If You Receive an IRS Notice |
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It’s a moment many taxpayers dread. A letter arrives from the IRS and it’s not a refund check. But don’t panic; many of these letters can be dealt with simply and painlessly.
Chances for Being Audited |
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The Internal Revenue Service (IRS) recently released its 2006 Data Book which describes activities conducted by the IRS from October 1, 2005, through September 30, 2006, and includes information about returns filed and taxes collected, enforcement, taxpayer assistance and the IRS budget and workforce.
Penalties for Early Distributions from Retirement Plans |
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Payments that you receive from your IRA or qualified retirement plan before you reach age 59½ are normally called ‘early’ or ‘premature’ distributions. These funds are subject to an additional 10 percent tax and must be reported to the IRS.
When to Amend Your Return |
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As hard as you and your tax return preparer may try to file a complete and accurate tax return by the due date, circumstances such as the following may work against your efforts.
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