IRS

IRS Watchdog: Impostor Phone Scam Largest Ever

Posted on 03/21/2014 by |AARP Blog Author | Comments

Bulletin Today | Money & SavingsFrom its infancy several months ago, this was no typical telephone scam “phishing” for personal information. These crooks, posing as IRS agents, already had some of it — including the last four digits of the Social Security number of those whom they called. And perhaps that explains, at least in part, why it’s since grown to become the “the largest scam of its kind we have ever seen,” the IRS inspector general said Thursday. At least 20,000 taxpayers have been contacted …

IRS Owes You $760 Million in Refunds

Posted on 03/19/2014 by |Money and Work | Comments

Bulletin Today | Money & SavingsNo, it’s not opposite day. The IRS really does owe almost 1 million taxpayers like you nearly $760 million in refunds — or a median $571 for about half of those owed money. The IRS says the refunds are owed to people who didn’t file a federal income tax return for 2010. But here’s the catch: To collect the money, you’ve got to file a 2010 return with the IRS no later than Tuesday, April 15. “We encourage students, part-time workers …

IRS: Someone Will Be With You … Sometime Today

Posted on 02/17/2014 by |Money and Work | Comments

Money & SavingsHello, IRS? Is anyone there? That’s what you might be asking if you call the IRS with questions about your 2013 tax return. The agency says today starts one of the busiest weeks of the tax filing season for the IRS phone lines. So make yourself comfortable and settle in. You’re likely to be on hold longer than the 17.6 minutes customers waited last year to speak with someone. You think that’s bad? Some 20 million people, or 39 percent …

Need Help from the IRS? Don’t Hold Your Breath

Posted on 01/10/2014 by |Washington Watch | Comments

Bulletin Today | Money & SavingsHave tax questions or problems? You probably shouldn’t expect much in the way of help from the IRS these days, according to the latest report from the Taxpayer Advocate Service, an independent organization within the agency. Some of the major findings: The IRS no longer helps elderly, disabled and low-income taxpayers prepare their annual returns. Ten years ago it prepared 476,000 such returns. Only 61 percent of calls to the IRS from taxpayers wanting to speak to someone were answered, …

Early Tax Filers Will Have to Wait for Refunds

Posted on 12/20/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsEarly 2013 tax filers expecting a refund will have to wait a bit next year. The IRS says it’s starting the 2014 tax season 10 days later than usual, on Jan. 31, as a consequence of the federal government shutdown in October. The 16-day closure curtailed most government operations and delayed the IRS from updating its processing systems for the new tax season. “The late January opening gives us enough time to get things right with our programming, testing and systems …

A Tax Rule Washington Is Making Easier

Posted on 11/5/2013 by |Washington Watch | Comments

Bulletin Today | PoliticsNo more rushing to buy a spare pair of prescription glasses to use up your flexible spending account (FSA) before the year ends. >> Sign up for the AARP Money newsletter. The Treasury Department is letting employers give their workers a break by allowing them to roll over up to $500 from their special accounts into the next year. The accounts, which each year let you set aside up to $2,500 in before-tax dollars to pay for health care expenses, …