The Dog Ate My Tax Receipts?

Every year people spend hours searching madly for those few missing receipts that will substantiate a tax deduction. An IRS audit is a real fear in the United States, one that is portrayed in television shows as a horrific experience. But did you know that receipts aren’t always a requirement when proving your deductible expenses? Thanks to past Broadway pioneer George M. Cohan, who paid in cash and fought the system when they denied his claims, we have the Cohan Rule. Not the easiest rule to use, you might wind up in court, but good to know in case you ever end up in this situation. Still, probably better to just keep saving your receipts.

No Receipts For IRS? Key Tax Case Says They’re Optional

Governmental Step Child?

What do you feel when I say IRS? They rank about like Biblical tax collectors in most circles and after their scandalous conference spending along with $2.8 million in bonuses to tax-delinquent employees, it stands to reason. But another spending cut for the IRS may worsen the already growing issues in the areas of enforcement and customer-service functions that have occurred since the last reduction in funds. I mean, who enjoys listening to hold music for an hour just to find out how to properly complete section T-1 on Tax Form IDK WUM 44EZ?

Analysis: Spending bill’s IRS cuts could harm tax enforcement

IRS reveals start date for 2014 tax filing season

The IRS has finally announced an official start date for the 2014 filing season: It will start accepting returns on Jan. 31. This date is 10 days later than the originally planned starting date of Jan. 21. “The late January opening gives us enough time to get things right with our programming, testing, and systems validation,” said Acting IRS Commissioner Danny Werfel in a press release. This process involves programming, testing, and deploying the more than 50 IRS systems that are needed to handle nearly 150 million tax returns.

IRS Loses Lawsuit Challenging Authority to Regulate Tax Preparers

irsloses In a stunning blow to the Internal Revenue Service’s efforts to regulate the tax preparation profession, a federal judge struck down the IRS’s licensing requirements for tax preparers on Friday, including testing and continuing education.