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IRS Reminds Extension Filers of the Oct. 17 Deadline

Millions of taxpayers ask for an extra six months to file their taxes every year. If you are one of them, then you should know that Monday, Oct. 17 is the extension deadline in 2016. This is so because Oct. 15 falls on a Saturday.

If you have not yet filed, here are some things to keep in mind about the extension deadline and your taxes:


New Private Debt Collection Program to Begin
Next Spring; IRS to Contract with Four
Agencies; Taxpayer Rights Said to be Protected

WASHINGTON - The Internal Revenue Service announced today that it plans to begin private collection of certain overdue federal tax debts next spring and has selected four contractors to implement the new program.

The new program, authorized under a federal law enacted by Congress last December, enables these designated contractors to collect, on the government’s behalf, outstanding inactive tax receivables. As a condition of receiving a contract, these agencies must respect taxpayer rights including, among other things, abiding by the consumer protection provisions of the Fair Debt Collection Practices Act.


No Passport For You!!!

Beginning December 4, 2015, the IRS received authority to instruct the State Department to revoke or not issue a passport to individuals owing significant taxes. This measure is part of the Fixing America’s Surface Transportation Act (FAST Act).

Section 32101 of the FAST Act adopted a new Internal Revenue Code provision, Section 7345. Under FAST Act Section 32101 and new Internal Revenue Code Section 7345, if the IRS certifies to the State Department that an individual “has a seriously delinquent tax debt”, the State Department shall not issue a passport to the individual. If the IRS makes this certification to the State Department for a tax-delinquent individual with an existing passport, the State Department may revoke the person’s passport, or can limit the passport for return travel only to the U.S. The State Department also the authority to issue a passport, despite receiving a certification notice from the IRS, for “emergency and for humanitarian reasons.”


IRS Urges You to Check Tax Status

WASHINGTON — The Internal Revenue Service today encouraged taxpayers to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017.  Taking a closer look at the taxes being withheld can help ensure the right amount is withheld, either for tax refund purposes or to avoid an unexpected tax bill next year.

The withholding review takes on even more importance this year given a new tax law change that requires the IRS to hold refunds a few weeks for some early filers in 2017 claiming the Earned Income Tax Credit and the Additional Child Tax Credit. In addition, the IRS and state tax administrators continue to strengthen identity theft and refund fraud protections, which means some tax returns could again face additional review time next year to protect against fraud.


How much does an unmarried dependent student have to make before he or she has to file an income tax return?

If you are an unmarried dependent student, you must file a tax return if your earned or unearned income exceeds certain limits. Considering your income and marital status as single, your unmarried dependent student must file a return if any of the following apply:

1. Your unearned income was more than $2,600 ($4,150 if 65 or older and blind)

2. Your earned income was more than $7,850 ($9,400 if 65 or older and blind)

3. Your gross income was more than the larger of—

  • $2,600 ($4,150 if 65 or older and blind), or
  • Your earned income (up to $5,950) plus $1,900 ($3,450 if 65 or older and blind)

You may want to consider filing a return even if you do not have to in some cases, like to claim a refund of taxes paid. Consider reviewing IRS Publication 501 for more information on this topic.

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