- Days left
As much as I hate paying taxes, I am generally on friendly terms with the IRS. Even though I help defend people who have civil and criminal tax problems, I really hold no ill will toward the IRS. Their employees have a job to do. They just enforce the law and process your forms and money.

But sometimes the IRS does silly things that make me shake my head. Take this letter written to my client: Our records show we received your original and amended tax returns on May 08, 2007 and Oct. 22, 2007, respectively. We're sorry but we can't find them, so we need your help to answer your inquiry. Please send us a newly signed copy of your amended tax return.

Translation: We know you sent us your tax returns. We even know on what dates we received them. But we can't find them. Send them again. I have a slight problem with this. If we taxpayers lose our documents and mess up in regard to taxes, we're subject to interest and penalties that are usually fairly large. Yet the IRS doesn't have to be held to the same standard. If they lose our materials, it's our responsibility to fix their problem. Doesn't seem quite fair, does it?

Incidentally, about two weeks later my client got a letter that said they found the tax returns and we should ignore the previous letter. Okay. I guess that's a big "never mind" and we should be glad. And that my friends, is how the IRS both entertains and amuses me.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

Increase your money and finance knowledge from home

How much house can I afford

Home buying 101, evaluating one of your most important financial decisions.

View Course »

Building Credit from Scratch

Start building credit...now.

View Course »

TurboTax Articles

Know The Key Dates For Health Care Reform

"Open enrollment periods for the health insurance marketplace under the Affordable Care Act are limited" says Mac Schneider, a retired certified public accountant from Albion, Michigan. ?Avoiding tax penalties requires awareness of important dates that may vary year-to-year.? As well as key dates, there are time cycles and coverage gap allowances important to health insurance coverage under provisions of health care reform.

Deducting Mortgage Interest FAQs

If you're a homeowner, you probably qualify for a deduction on your home mortgage interest. The tax deduction also applies if you pay interest on a condominium, cooperative, mobile home, boat or recreational vehicle used as a residence.

What Extra Tax Deductions Should I Make Sure To Take?

The federal government offers tax deductions and credits to reduce taxable income under certain circumstances. There are several that are often overlooked, including deductions for job hunting, caregiver expenses for dependents and children while you work, a credit to reduce taxes for moderate- to low-income earners and the premium tax credit associated with the Affordable Care Act. TurboTax can help determine if you qualify for these credits and deductions.

Add a Comment

*0 / 3000 Character Maximum