IRS Warns of Tax Scams

IRS Warns of Tax Scams in 2014.

The IRS is warning Americans of tax scams. This year identity theft and phone scams top the agency's "Dirty Dozen" list of worst schemes taxpayers could encounter.

In a news release, the IRS announced Americans could see these scams at any point in the year, but many of the schemes peak during tax season.

"Scams can be sophisticated and take many different forms. We urge people to protect themselves and use caution when viewing emails, receiving phone calls or getting advice on tax issues," IRS Commissioner John Koskinen said in a news release.

Below are the top three scams taxpayers should be on the lookout this year. IRS Warns of Tax Scams!

Identity Theft

The IRS said tax fraud through identity theft tops this year's list. Fraudsters like to get taxpayers Social Security Number and other bits of information. They then use it to fraudulently file a tax return and claim the refund.

The IRS suggests taxpayers be alert to possible identity theft if they receive an IRS notice that states:

• More than one tax return for you was filed.
• You have a balance due, refund offset or have had collection actions taken against you for a year you did not file a tax return.
• IRS records indicated you received wages from an employer unknown to you.

If you believe you were a victim of identity theft the IRS suggests you notify the agency as soon as possible.

Telephone Scams

The IRS said it has seen an increase in local phone scams across the United States. Callers pretned to be from the IRS. The goal is to steal money or identities from victims.

According to the IRS, these scams come in many variations. Some callers will say the victim owes money or is entitled to a larg refund. Others might threaten arrest or driver's license revocation.

Common characteristics of these scams include:

• Scammers use fake names and IRS badge numbers.
• Callers might be able to recite the last four digits of a victims Social Security Number.
• Con artists may imitate the IRS toll-free number to make it seems like it's the IRS calling.
• Scammers sometimes send falsified IRS emails to victims to support their bogus calls.

False Promises of "Free Money"

It is common for scam artists to pose as tax preparers during tax season. The IRS said scammers lure victims in by promising large federal tax refunds. They use flyers, phony store fronts and word of mouth to attract as many victims as possible. The IRS said these scammers prey on people who do have a filing requirement like low-income individuals and the elderly.

For more information on these scams and several others visit IRS.gov.

Find out when your Income Tax Return will arrive on our 2014 IRS E-File Cycle Chart.

Discuss this on the Income Tax Forums.

When did you get your refund 2014

Today is the official start to the I.R.S. 2013 Tax Season. We want to compile a list of payments dates for our users to see to better help them determine the date that they will get their refund. So we pose the question, "When did you get your refund 2014?"

We would like everyone to reply to this post with the date that their refund was accepted and the date that I.R.S. has set for their direct deposit or check. To find out this date, you will need to visit the I.R.S. Where's My Refund webpage here.

Optionally, we would also like you to post the date that your state refund, what state, and when your state finance department gives your refund date. To find out this, visit our Where's My State Refund page.

Please comment here with Federal Acceptance Date, Federal Payout Date, (optional) State Acceptance Date, State, and State Acceptance Date.

Thank you for helping to make our 2014 Refund Schedule to be as accurate as possible.

2014 tax breaks: Congress letting 55 tax breaks expire at year end

WASHINGTON - In an almost annual ritual, Congress is letting a package of 55 popular tax breaks expire at the end of the year, creating uncertainty -- once again -- for millions of individuals and businesses.

Lawmakers let these tax breaks lapse almost every year, even though they save businesses and individuals billions of dollars. And almost every year, Congress eventually renews them, retroactively, so taxpayers can claim them by the time they file their tax returns.

No harm, no foul, right? After all, taxpayers filing returns in the spring won't be hurt because the tax breaks were in effect for 2013. Taxpayers won't be hit until 2015, when they file tax returns for next year.

Not so far. Trade groups and tax experts complain that Congress is making it impossible for businesses and individuals to plan for the future. What if lawmakers don't renew the tax break you depend on? Or what if they change it and you're no longer eligible?

"It's a totally ridiculous way to run our tax system," said Rachelle Bernstein, vice president and tax counsel for the National Retail Federation. "It's impossible to plan when every year this happens, but yet business has gotten used to that."

Some of the tax breaks are big, including billions in credits for companies that invest in research and development, generous exemptions for financial institutions doing business overseas, and several breaks that let businesses write off capital investments faster.

Others are more obscure, the benefits targeted to film producers, race track owners, makers of electric motorcycles and teachers who buy classroom supplies with their own money.

There are tax rebates to Puerto Rico and the Virgin Islands from a tax on rum imported into the United States, and a credit for expenses related to railroad track maintenance.

A deduction for state and local sales taxes benefits people who live in the nine states without state income taxes. Smaller tax breaks benefit college students and commuters who use public transportation.

A series of tax breaks promote renewable energy, including a credit for power companies that produce electricity with windmills.

The annual practice of letting these tax breaks expire is a symptom a divided, dysfunctional Congress that struggles to pass routine legislation, said Rep. John Lewis of Georgia, a senior Democrat on the tax-writing House Ways and Means Committee.

"It's not fair, it's very hard, it's very difficult for a business person, a company, to plan, not just for the short term but to do long-term planning," Lewis said. "It's shameful."

With Congress on vacation until January, there is no chance the tax breaks will be renewed before they expire. And there is plenty of precedent for Congress to let them expire for months without addressing them. Most recently, they expired at the end of 2011, and Congress didn't renew them for the entire year, waiting until New Year's Day 2013 -- just in time for taxpayers to claim them on their 2012 returns.

But Congress only renewed the package though the end of 2013.

Why such a short extension? Washington accounting is partly to blame. The two-year extension Congress passed in January cost $76 billion in reduced revenue for the government, according to the nonpartisan Joint Committee on Taxation. Making those tax breaks permanent could add $400 billion or more to the deficit over the next decade.

With budget deficits already high, many in Congress are reluctant to vote for a bill that would add so much red ink. So, they do it slowly, one or two years at time.

"More cynically, some people say, if you just put it in for a year or two, then that keeps the lobbyists having to come back and wine-and-dine the congressmen to get it extended again, and maybe make some campaign contributions," said Mark Luscombe, principal tax analyst for CCH, a consulting firm based in Riverwoods, Ill.

This year, the package of tax breaks has been caught up in a debate about overhauling the entire tax code. The two top tax writers in Congress -- House Ways and Means Committee Chairman Dave Camp, R-Mich., and Senate Finance Committee Chairman Max Baucus, D-Mont. -- have been pushing to simplify the tax code by reducing tax breaks and using the additional revenue to lower overall tax rates.

But their efforts have yet to bear fruit, leaving both tax reform and the package of temporary breaks in limbo. When asked how businesses should prepare, given the uncertainty, Camp said: "They need to get on board with tax reform, that's what they need to do."

Further complicating the issue, President Barack Obama has nominated Baucus to become U.S. ambassador to China, meaning he will soon leave the Senate, if he is confirmed by his colleagues.

As the Senate wound down its 2013 session, Democratic leaders made a late push to extend many of the tax breaks by asking Republican colleagues to pass a package on the floor of the Senate without debate or amendments. Republicans objected, saying it wasn't a serious offer, and

the effort failed.

So should taxpayers count on these breaks as they plan their budgets for Income Tax 2014?

"The best thing I would say is, budget accordingly," said Jackie Perlman, principle tax research analyst at The Tax Institute. "As the saying goes, hope for the best but plan for the worst. Then if you get it, great, that's a nice perk. But don't count on it."

Discuss this and more at the Income Tax Forums.

2014 IRS Refund Schedule for 2013 Tax Year.

2014 IRS Refund Cycle Chart and e-file payment information.

This is a schedule for 2014 IRS Refund Cycle Chart. Direct Deposit and Check date’s below. Please see disclaimer. 2014 tax refund schedule is listed below for information purposes.

IRS accepts your return (by 11:00 am) between…*					Projected Direct Deposit Sent*	Projected Paper Check Mailed*
				January 28 2014	1/29/2014	1/31/2014
January 29		and		February 01 2014	2/5/2014	2/7/2014
February 02		and		February 08 2014	2/12/2014	2/14/2014
February 09		and		February 15 2014	2/19/2014	2/21/2014
February 16		and		February 22 2014	2/26/2014	2/28/2014
February 23		and		March 01 2014	3/5/2014	3/7/2014
March 02		and		March 08 2014	3/12/2014	3/14/2014
March 09		and		March 15 2014	3/19/2014	3/21/2014
March 16		and		March 22 2014	3/26/2014	3/28/2014
March 23		and		March 29 2014	4/2/2014	4/4/2014
March 30		and		April 05 2014	4/9/2014	4/11/2014
April 06		and		April 12 2014	4/16/2014	4/18/2014
April 13		and		April 19 2014	4/23/2014	4/25/2014
April 20		and		April 26 2014	4/30/2014	5/2/2014
April 27		and		May 03 2014	5/7/2014	5/9/2014
May 04		and		May 10 2014	5/14/2014	5/16/2014
May 11		and		May 17 2014	5/21/2014	5/23/2014
May 18		and		May 24 2014	5/28/2014	5/30/2014
May 25		and		May 31 2014	6/4/2014	6/6/2014
June 01		and		June 07 2014	6/11/2014	6/13/2014
June 08		and		June 14 2014	6/18/2014	6/20/2014
June 15		and		June 21 2014	6/25/2014	6/27/2014
June 22		and		June 28 2014	7/2/2014	7/4/2014
June 29		and		July 05 2014	7/9/2014	7/11/2014
July 06		and		July 12 2014	7/16/2014	7/18/2014
July 13		and		July 19 2014	7/23/2014	7/25/2014
July 20		and		July 26 2014	7/30/2014	8/1/2014
July 27		and		August 02 2014	8/6/2014	8/8/2014
August 03		and		August 09 2014	8/13/2014	8/15/2014
August 10		and		August 16 2014	8/20/2014	8/22/2014
August 17		and		August 23 2014	8/27/2014	8/29/2014
August 24		and		August 30 2014	9/3/2014	9/5/2014
August 31		and		September 06 2014	9/10/2014	9/12/2014
September 07		and		September 13 2014	9/17/2014	9/19/2014
September 14		and		September 20 2014	9/24/2014	9/26/2014
September 21		and		September 27 2014	10/1/2014	10/3/2014
September 28		and		October 04 2014	10/8/2014	10/10/2014
October 05		and		October 11 2014	10/15/2014	10/17/2014
October 12		and		October 18 2014	10/22/2014	10/24/2014
October 19		and		October 25 2014	10/29/2014	10/31/2014
October 26		and		November 01 2014	11/5/2014	11/7/2014
November 02		and		November 08 2014	11/12/2014	11/14/2014
November 09		and		November 15 2014	11/19/2014	11/21/2014
November 16		and		November 22 2014	11/26/2014	11/28/2014
November 23		and		November 29 2014	12/3/2014	12/5/2014
November 30		and		December 06 2014	12/10/2014	12/12/2014
December 07		and		December 13 2014	12/17/2014	12/19/2014
December 14		and		December 20 2014	12/24/2014	12/26/2014
December 21		and		December 27 2014	12/31/2014	1/2/2015

*These are only estimates, the I.R.S. has refused to give exact dates to new audit process. There are no guarantees with the I.R.S this year, but one thing is for sure. The earlier you file, the earlier you will receive a return. Contact us today for more details and to schedule your early tax appointment.

2012 IRS income Tax Refund Schedule.

IRS Income Tax 2014 news.

irs refund schedule 2014
2014 tax refund cycle chart
tax chart for 2014
refund calendar

tax return payout schedule