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THURSDAY TAX TIDBITS

Five Facts the IRS doesn't want you to know!



1. Calling the IRS for help won't work.

Calling the IRS usually requires you to stay on hold. Last year, 35.6% of phone calls went unanswered by representatives; that's a lot! Additionally, this year the IRS projects that they will only serve 43 percent of callers after they wait for 30 minutes. Crazy, I know!

2. The IRS can't handle all the paperwork either.

About 50 percent of letters the IRS receives have not been handled in a timely manner. The IRS deals with over a million pieces of correspondence; it takes an average of 45 days to respond.

3. The IRS is worried about ObamaCare collection.

If you received a subsidy based on your projected income, and you made more than that estimate, you may have to pay back part of the subsidy. If you did not have a health care plan, you may be able to file for an exemption or you could owe a small penalty. The Trump administration ended this policy, however, it is not effective until 2019.

4. Your refund may be delayed this year.

Blame the budget cuts says IRS Commissioner John Koskinen. In January, he wrote a memo warning employees of a possible hiring freeze and possible two-day furlough later this year. The memo also mentioned that individuals who file paper returns can wait for a week longer for their refund due to staffing.

5. The IRS is an open target to scammers. 

In 2015, the IRS spent $5.5 billion in fraudulent identity theft refunds. Independently, many Americans also experience scams by con artists contacting them and pretending to be the IRS. To learn how to avoid becoming a scam victim, read my past articles that teach you red flags.

To avoid getting caught in the messy web of the IRS, do your taxes right the first time. At Cunningham's tax office, our tax accountants do your taxes right the first time and help you get the best refund you can receive. We are open Monday through Friday from 9 AM to 5 PM; contact us by email or phone at: thetaxlady4u@gmail.com or 253.581.1461

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Twitter: @thetaxlady4u
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