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Multiple South Carolinians arrested on tax evasion charges

Columbia, SC (January 11, 2013) — Investigators with the South Carolina Department of Revenue have arrested 18 individuals this week in an ongoing investigation targeting those who claim to be exempt from taxation with their employers and fail to file required state income tax returns. Those arrested in the investigation filed W4 forms with their […]

IRS Plans Jan. 30 Tax Season Opening For 1040 Filers

WASHINGTON — Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30. The IRS will begin accepting tax returns on that date after updating forms […]

Summary of The American Taxpayer Relief Act of 2012

The American Taxpayer Relief Act of 2012 was recently signed into law.  This law will have a significant impact on nearly every American taxpayer.  We will be publishing, for our Investment Advisory clients, a summary of key provisions of the law including how the law will impact many taxpayers. Due to contractual obligations we cannot […]

What to Expect for Refunds in 2013

The IRS is taking several steps to improve taxpayers’ ability to understand their refund status in 2013. To begin with, taxpayers will get a personalized refund date when they use Where’s My Refund? and the tool will have a new look. Where’s My Refund? will include a tracker that displays progress through 3 stages: (1) […]

Identity Protection Webinars Offered in January

The South Carolina State Library has partnered with the South Carolina Department of Revenue and the South Carolina Department of Consumer Affairs to provide the public with information on how to minimize the possibility of identity theft. The free webinar, The Truth About Identity Protection, will address the issues of security breaches, credit reports, and […]

Expect delays this tax filing season due to The American Taxpayer Relief Act of 2012

The congress has passed and the President has signed into law The American Taxpayer relief act of 2012.  This bill is over 150 pages and retroactively extends many provisions that were slated to expire  The law also permanently patches the AMT (alternative minimum tax).  The permanent patching of the AMT is alone worth any inconvenience […]

Letters about the SCDOR cyber hacking are in the mail

The South Carolina Department of Revenue has begun sending out letters notifying taxpayers about the theft of social security numbers and other information.  The letters confirm that only electronic filers are affected.   Taxpayers who have already signed up for the state provided identity theft protection are supposed to be notified by email. Click here to […]

Free credit monitoring from online resources

In light of the debacle at the South Carolina Department of Revenue where confidential information for millions of taxpayers, including social security numbers, was stolen, credit monitoring has been a hot topic of discussion.  The state has paid for one year of credit monitoring through Experian for everyone affected.  But what happens when that year […]

Experian credit monitoring enrollment deadline extended

South Carolina taxpayers who are affected by the Department of Revenue cyber hacking incident will have an additional two months to sign up for free credit monitoring at www.protectmyid.com/scdor. WIS Television in Columbia SC is reporting that the deadline for signing up has been extended until March 31, 2013. –     Call 1-866-578-5422 to enroll in […]

IRS Offers Tips for Year-End Giving

WASHINGTON — Individuals and businesses making contributions to charity should keep in mind some key tax provisions that have taken effect in recent years, especially those affecting donations of clothing and household items and monetary donations. Rules for Clothing and Household Items To be deductible, clothing and household items donated to charity generally must be […]