Category Archives: Announcements

Nolo is proud to be considered the premier site for go-to consumer legal information. Find out the newest announcements from Nolo here – from site-wide updates to must know product information – THIS is the place to learn everything you need to know about what’s new with Nolo.

DON’T FORGET THE TAXPAYER ADVOCATE

The Taxpayer Advocate Service is an independent organization within IRS, whose role is to protect taxpayers’ rights and ensure that all taxpayers are treated fairly.

Among other things, the Advocate:

~Helps individuals, businesses and exempt organizations in a myriad of ways

~Helps in cases where the taxpayer’s IRS problem is causing a financial difficulty or, most commonly, in cases where IRS procedure has simply bogged down and the taxpayer is trapped in a morass of red tape with no resolution of the problem in sight.

If this is you, check out www.taxpayeradvocate.irs.gov.

USEFUL IRS INFO FOR THOSE IN THE MILITARY

In recognition of National Military Appreciation Month, IRS has recently updated its “Armed Forces Tax Guide” (Publication 3) which contains good information and important reminders of some tax benefits unique to members of the military, including:

~Combat pay – partly or totally tax free
~Moving expenses – deduction available for eligible items
~Tax return due date – service members stationed abroad
have until June 15 to file, and those in a combat zone
have even longer – typically up to 180 days after they
leave the combat zone

Check out Publication 3 for more.

IRS WARNING ABOUT FAKE CHARITIES

Included on IRS’ famous annual “Dirty Dozen” tax scams list for 2015 is a warning about groups masquerading as charitable organizations to attract donations from unsuspecting contributors.

IRS goes on to advise potential charitable donors to:

~Be wary of charities with names that are similar to familiar or nationally known organizations. Check the IRS list (www.irs.gov) for inclusion in the listing of legitimate charities.

~Not reveal personal financial information, such as your Social Security number to a charitable solicitor.

~Not to give or send cash. For security and tax record-keeping purposes, contribute by check or credit card or another way that provides documentation of the gift.

DEADLINE LOOMS FOR SMALL RETIREMENT PLANS

Don’t forget that certain small businesses which failed to timely file required retirement plan returns in recent years have only until June 2, 2015 to take advantage of special penalty relief offered last year via Revenue Procedure 2014-32.

The relief offered under this Revenue Procedure is only available to the plan administrator or plan sponsor of (1) certain small business (owner-spouse) plans, and plans of business partnerships, and (2) certain foreign plans.

JUNE 15 BECOMES NEXT DEADLINE FOR SOME

U.S. citizens and resident aliens who have lived or worked abroad during some or all of 2014 may have a U.S. tax liability and filing requirement this year.

A filing requirement generally applies even if a taxpayer qualifies for tax benefits such as the foreign earned income exclusion or the foreign tax credit which nonetheless may reduce or eliminate their U.S. tax liability. These tax benefits are not automatic and are only available if an eligible taxpayer files a U.S. income tax return, the filing deadline for which is June 15, 2015 for U.S. citizens and resident aliens whose tax home and abode are outside the United States on the regular due date of their tax return.

To use this automatic two month extension, taxpayers must attach a statement to their return explaining their situation.

Check out IRS Publication 54 (“Tax Guide for U.S. Citizens and Resident Aliens Abroad”) for more info.