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Showing posts with label IRS. Show all posts
Showing posts with label IRS. Show all posts

Tuesday, February 28, 2023

A Brief Pause Here

I'm in tax mode for a few more days as I gather materials and upload them to Tax Caddy:
Temporarily on comment moderation.

Back soon!

Monday, February 29, 2016

Deciphering The IRS Tax Code


Apparently, I need a copy of Form 1095-B so as to prove that I've had health insurance coverage for all of tax year 2015 and so as to avoid the ObamaCare fine. To date, I have not yet received any such form from my insurance carrier BlueCross Blue Shield. Some of my friends have received their Form 1095-B, but I have not.

So, I decided to look up the due date online. Here's what I found (bold font in red is my emphasis):
New Due Dates for Filing Forms 1095-B, 1094-B, 1095-C and 1094-C -- 29-DEC-2015

The due dates for the 2015 information reporting requirements under I.R.C. §§ 6055 and 6056, have been extended.

*The due date for furnishing the 2015 Form 1095-B, Health Coverage, was changed from January 31, 2016, to March 31, 2016; and

*The due date for filing with the Service the 2015 Form 1094-B, Transmittal of Health Coverage Information Returns, and the 2015 Form 1095-B, Health Coverage, was changed from February 29, 2016, to May 31, 2016. If filing electronically, the due date was changed from March 31, 2016, to June 30, 2016.

*The due date for furnishing the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, was changed from January 31, 2016, to March 31, 2016; and

*The due date for filing with the Service the 2015 Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, was changed from February 29, 2016, to May 31, 2016. If filing electronically, the due date was changed from March 31, 2016, to June 30, 2016.

As a result of these extensions, individuals might not receive a Form 1095-B or Form 1095-C by the time they file their 2015 tax returns. For further guidance, please see Notice 2016-04.
Page Last Reviewed or Updated: 30-Dec-2015
Wrap your mind around all that verbiage! Are the people who write the IRS tax code paid by the word?

 My due date for filing my 2015 tax return in April 15, 2016 — unless filing electronically (I do indeed file electronically), in which case the due date is June 30, 2016 a date well after my tax return is due.

Is this delay going to cost me more to file my tax return because my tax preparer will have to file an amended return?

Monday, October 27, 2014

Bank Account Seizures By The IRS

(Two posts today.  Please scroll down)

On the grounds of suspicion, no crime required.

From Bunkerville (citing the New York Times):
For almost 40 years, Carole Hinders has dished out Mexican specialties at her modest cash-only restaurant. For just as long, she deposited the earnings at a small bank branch a block away — until last year, when two tax agents knocked on her door and informed her that they had seized her checking account, almost $33,000.

The Internal Revenue Service agents did not accuse Ms. Hinders of money laundering or cheating on her taxes — in fact, she has not been charged with any crime. Instead, the money was seized solely because she had deposited less than $10,000 at a time, which they viewed as an attempt to avoid triggering a required government report....
I almost always make deposits of less than $10,000. Furthermore, because of the nature of my small business, I make frequent deposits (mostly checks). I'm probably safe on this one. So far.

Still our government keeps stepping outside the bounds of our Constitution.

How long are WE THE PEOPLE going to submit to creeping tyranny?

Saturday, June 21, 2014

Open Thread


So, what's on your mind?

Here is your chance to vent, but please observe the guidelines listed below the fold.  Also below the fold are my two entries.
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