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December 12, 2012

December 12, 2012. WHO IS PAYING MOST OF THE FEDERAL TAXES?. IRS ADDS “After You’ve Filed” link on www.irs.gov website. EXPIRING TAX PROVISIONS. ‘TurboTax Defense’ Unavailable for Self-Prepared Return Mistakes (Brenda Frances Bartlett, TC Memo. 2012-254 (9/4/2012)).

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December 12, 2012

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  1. December 12, 2012

  2. WHO IS PAYING MOST OF THE FEDERAL TAXES?

  3. IRS ADDS“After You’ve Filed”link on www.irs.gov website

  4. EXPIRING TAX PROVISIONS

  5. ‘TurboTax Defense’ Unavailablefor Self-Prepared Return Mistakes (Brenda Frances Bartlett, TC Memo. 2012-254 (9/4/2012))

  6. Identity Theft from Fraudulent Income Tax Return Filing is Rapidly Escalating. The IRS is Not Equipped to Detect It (Treasury Inspector General for Tax Administration (TIGTA) Audit Report No. 2012-42-080)

  7. Identity Theft from Fraudulent Income Tax Return Filing is Rapidly Escalating. The IRS is Not Equipped to Detect It (Treasury Inspector General for Tax Administration (TIGTA) Audit Report No. 2012-42-080)

  8. AN UNDER USED “TRICK” TO GET LARGER CHARITABLE DONATIONS& PAY DOWN THE NATIONAL DEBT.

  9. When You “Absolutely, PositivelyHave to Get It There Overnight”Don’t Use FedEx 3-Day Delivery Option(Marcius Scaggs, TC Memo 2012-258 (9/10/2012))

  10. IRS SETS OPTIONAL STANDARD MILEAGE EXPENSE RATES for 2013

  11. IRS SETS OPTIONAL STANDARD MILEAGE METHOD DEPRECIATION RATES

  12. IRS Releases Updated Per Diem Rates for Substantiating Travel Expenses (IRS Notice 2012-63 for per diem after 10/01/12, Internal Revenue Code §162 & Code §274(d)

  13. Employee Auto Reimbursements under an Employer’s Fixed and Variable Rate Plan (FAVR)…..A Fixed and variable rate (FAVR) Plan is where a working employee is using their own vehicle an the employer reimburses the employee a flat fixed amount (i.e. $100/Month) plus a variable amount for miles driven (i.e. 25 cents per mile driven for business. The standard automobile cost may not exceed $28,000 for automobiles (excluding trucks and vans) or $29,300 for trucks and vans. (See section 6.02(6) of Rev. Proc. 2010-51. SECTION 5)

  14. U. S. Supreme Court Upholds Health Care Statute, Including Individual Mandate as a “Tax” V. “Penalty”(National Federation of Independent Business v. Sebelius, 109 AFTR 2d ¶2012-890 (Sup Ct, 6/28/2012))

  15. 26 USC § 5000A – Requirement to maintain minimum essential coverage (TITLE 26 OF THE u. s. Code is called the “Internal revenue Code)

  16. THE PRESIDENT’S REACTION TO THE SUPREME COURT DECISION (UNABLE TO VERIFY THE ACCURACY OF FOLLOWING IMAGE)

  17. Report Criticizes IRS for Not Applying Penalty Relief for Qualifying Taxpayers and IRS Should Encourage Voluntary Compliance. (Treasury Inspector General for Tax Administration (TIGTA) (Audit Report Reference No. 2012-40-113dated 09/19/12)

  18. New IRS Form 8938 (Statement of Foreign Financial Assets)

  19. New IRS Form 8938 (Statement of Foreign Financial Assets)

  20. U.S. DEPT. OF JUSTICE, TAX DIVISION GOES AFTER US TAXPAYERS WITH UNREPORTED SWISS BANK ACCOUNTS.

  21. IF YOU HAVE ANY QUESTIONS

  22. Rex L. Crandell Firm

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