IRS Offers Tax Tips for “The Season of Giving”

December is traditionally a month for giving generously to charities, friends and family. But it’s also a time that can have a major impact on the tax return you’ll file in the New Year. Here are some “Season of Giving” tips from the IRS covering everything from charity donations to refund planning: Contribute to Qualified […]

Recommended actions in the wake of the SCDOR cyber hacking incident

It took a couple of weeks for the public to be notified of the theft of South Carolina tax information and a couple more weeks for useful information to begin to trickle out.  With that as the foundation of this issue it is apparent that speed is not going to save the day.  So there […]

2013 Standard Mileage Rates Up 1 Cent per Mile for Business, Medical and Moving

WASHINGTON — The Internal Revenue Service today issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 56.5 […]

Mandiant report & press conference on the South Carolina Department of Revenue cyber hacking incident

The released version of the Mandiant report can be found here.  Not much volume in the report.  It appears to be more of an executive summary.  The entire document is only 4 pages long (and one of those pages is the cover page). But it doesn’t really matter much since the report mostly focuses on […]

South Carolina hacking incident report released, heads roll

This looks as bad as we suspected it would be.  We have not read the report but several news outlets are reporting key details. The Post and Courier in Charleston has the best summary right now 1.  Yes, the thieves stole bank account information in addition to social security numbers. 2.  The State knows exactly […]

SC Department of Revenue hacking: What’s known, not known 3 weeks later

As we try to find out what has happened, and who it has happened to, in the SC Department of Revenue cyber hacking cases the details have been painfully slow in coming to light. State officials have drifted into basic radio silence with no new press conferences since the initial flurry near the beginning of […]

IRS Provides Tax Relief to Victims of Hurricane Sandy; Return Filing and Tax Payment Deadline Extended to Feb. 1, 2013

IRS YouTube Videos Help for Disaster Victims: English | Spanish | ASL How to Request a Copy of Your Tax Return: English | Spanish | ASL Podcast Disaster Assistance: English | Spanish WASHINGTON –– In the aftermath of Hurricane Sandy, the Internal Revenue Service announced additional tax relief to affected individuals and businesses. Following recent […]

IRS Warns Consumers of Possible Scams Relating to Hurricane Sandy Relief

WASHINGTON – The Internal Revenue Service today issued a consumer alert about possible scams taking place in the wake of Hurricane Sandy. Following major disasters, it’s common for scam artists to impersonate charities to get money or private information from well-intentioned taxpayers. Such fraudulent schemes may involve contact by telephone, social media, email or in-person […]

Form 1099-K Letters to Businesses

Beginning next week, the IRS will be sending out approximately 20,000 letters to small businesses questioning the possible underreporting of income. The IRS matched the information reported on 2011 Form 1099-K that was sent to the business to the income the business reported on its tax return. We understand that there will be three different […]

National media finally begins to weigh in on the stolen South Carolina tax records story

The New York Times finally has an “article” on the South Carolina Department of Revenue cyber hacking scandal.  And I use the word article loosely, as this piece seems to be mostly a rehash of the two week old story but it is at least a start.  (Links to older stories here) If you detect […]