January 20, 2015
Tax season is here and the 1040’s have been hung by the chimney with care, in hopes that tax refunds soon would be there.
You better not cheat, and I,m telling you why, the IRS is coming to town. They’re making a list and checking twice, gonna find out who’s got minimally essential coverage and who has to pay the price.
That’s right tax season officially begins today and we are off to the races. I expect that this will be an especially strange tax season. We have the whole affordable care act requirement to digest this year. I have been trying to get up to speed on this issue and while there seems to be plenty of instructions for how to handle it, my guess is everybody will not fit neatly into their preassigned boxes. Consequently, I pretty much expect all heck to break loose sometime in February.
Couple that with the fact that the IRS feels that they have not been provided with a sufficient budget this year and you could have the makings of a perfect storm. For years the IRS has enjoyed a reputation for having long wait times for callers to get through to talk with someone. Now it is being reported that less than half of callers to the IRS will actually get through to a real person to discuss their needs.
Nobody really knows how this will all play out, all I can say is strap in, this could get pretty interesting very quickly.
Of course, if we can be of assistance to you please do not hesitate to call us here at Tax On Wheels, LLC. We can be reached at 803 732-4288.