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It is important that business owners and contract workers keep detailed records of their expenses to ensure they pay the correct amount in taxes each year and to have information available in the case of an audit.

The good news is technology can make this process faster and more organized without a significant amount of extra work. Gone are the days of boxes full of faded receipts, now tracking software can store important documents.

This month, the IRS announced there is approximately $1 billion in unclaimed federal income tax refunds for those who did not file their returns in 2013.

There is no penalty for filing a late return if it results in a refund, but the deadline to collect money from a 2013 tax return is no later than this year’s tax deadline – April 18. After three years, the refund becomes property of the U.S. Treasury.

The IRS is warning taxpayers of a new scam uses video relay services (VRS) to specifically target those who are deaf or who are hard of hearing.

Just like any other phone scam, it is important not to provide a caller financial or personal information if the source is not trusted, and be certain to confirm their identity. Do not automatically trust calls made through VRS because interpreters do not screen calls for validity.

The IRS is warning taxpayers of a new scam uses video relay services (VRS) to specifically target those who are deaf or who are hard of hearing.

Just like any other phone scam, it is important not to provide a caller financial or personal information if the source is not trusted, and be certain to confirm their identity. Do not automatically trust calls made through VRS because interpreters do not screen calls for validity.

These callers are aggressive in their attempt to obtain information illegally. They often urge prompt action, and if you refuse, they can become hostile or threatening.

Here at Polston Tax Resolutions and Accounting, we strive to educate our clients on everything tax-related, and sometimes that includes fake information. Lately, there's been misleading information circulating throughout social media on how to speed up the refund process. In today's Rod's Blog, we're going to debunk three of the major tax return myths, and offer some sensible tips instead.

Each tax season has its own unique challenges, and a pair of recently released government reports has highlighted the struggles the IRS needs to overcome in order to help taxpayers and identity theft victims in the current season. We here at Polston Tax strive to keep our clients informed, and to ensure that their personal information is treated with the utmost possible care. Today we’re taking a look at both reports, and see how, or if, their findings will affect the American Taxpayer.

They say that death and taxes are the only guarantees in life, but here at Polston Tax Resolutions and Accounting we think there's a third: Scammers. Every year, scammers try to cash in on the lucrative business of filing fraudulent tax returns, and this year a particularly dangerous W2 phishing scam has come to light. Scammers have already claimed about 29,000 victims in this tax season alone. But information is power, and in today's blog we're gong to take a look at scammer strategies, warning signs, how to take preventative action, and what you should do if you happen to be one of the victims.

Let's say that you're lucky enough to hit it big at the track or the casino. Any winnings you have are taxable, and the IRS is consistently updating and revising its rules on how the successful gambling man can pay his taxes.

Pretty much everybody shops online nowadays. But if you make a living through digital retail, there's a recent Supreme Court decision you should know about: Direct Marketing Association v. Brohl. The suit revolved around whether or not Colorado purchasers must pay a 2.9% "use tax," if they purchase an item online from a business outside the state of Colorado. The Court ruled, with a unanimous decision, in favor of the tax.

Since 2003, the IRS has partnered with the private sector to bring the Free File program to American Taxpayers. Free File enables taxpayers with an adjusted gross income of $64,000 or less (which is approximately 70 percent of the nation) to use brand-name tax filing software for absolutely free. Since 2003, more than 49 million people used Free File, saving more than $1.4 billion. At Polston Tax, it's our pleasure to bring services like these to our clients' attention, and to answer any questions they might have.

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