Is this for YOU, howard?
WHO WANTS TO BE A BILLIONAIRE?
The IRS is holding onto $1-BILLION that
belongs to estimated 1-million taxpayers.
ARE YOU ONE OF THEM?
IF SO, TIME IS RUNNING OUT!
The money is owed to people who have
not filed their 2014 tax returns to claim
their refunds. BTW, there’s no penalty for
filing tax returns late (even 3 years late!)
if a refund is owed to you.
By law, any refunds NOT claimed within
3 YEARS of the original filing deadline,
becomes permanent property of the
Department of Treasury.
The DEADLINE for filing 2014 returns
to receive refunds belonging to you, is
THIS TUESDAY, APR. 17, 2017
IS MORE TAX REFORM COMING?
Here’s a shocker: both Democrats and
Republicans agree on something:
There’s a need to modernize the IRS and
to make it more “taxpayer-friendly.” It’s
clear to most everyone that the IRS has
forgotten its last name: SERVICE.
THE BEST WAY TO REFORM IS…?
Discussions are at a very early stage, but
ideas being tossed around include giving
the taxpayer access to their own IRS case
files before their appeal hearing, and even
changing the title of the head of the IRS
from Commissioner to Administrator.
Those “softballs” are not Tax Reform.
It’s easy for both parties to “agree” on a
concept that’s publicly popular, like
overhauling the IRS. The fighting will
begin when attention shifts to the question
HOW are we going to DO that?
Don’t hold your breath expecting anything
definitive anytime soon. Especially not
before the midterm elections next Nov.
IF YOU’RE DOING YOUR TAXES
THIS WEEKEND, REMEMBER…
The #1 cause of lost deductions in audits
is lack of proper records.
As I said in a Tax Tips a few days ago, if you
have lost, missing or incomplete records for
ANY of your deductions, your choices are to:
(a) Claim the deduction, but knowing if you
are audited, you will lose the deduction
AND be slapped with interest and penalties.
(b) Not claim the deduction, and lose the tax-
savings value it could have meant
(c) Claim your rightful deductions, and
RECONSTRUCT your missing records.
IRS has authorized several ways for you to
“reconstruct” incomplete or missing records.
It is true that in order to claim ANY business
deductions, you must have records to back-
up each deduction. But it is also true that
some of the records can be reconstructed
if you did not keep, or later lost, your records.
The RECONSTRUCTING RECORDS Guide
is an immediate-download; get it NOW at
COMING UP NEXT WEEK…
The “2018 Tax Cuts Act” is fill of opportunities
to pay a lot LESS taxes this year than you
did in 2017.
I’ll take you through several of them in a
series of Tax Tips I’ll put out AFTER the
Tuesday tax filing deadline.
That’s it for today’s Tax Tips You Can Bank On.
If you got value from it, tell others. Subscriptions
are still FREE at www.TaxTipsYouCanBankOn.com
Ronald R. ‘Ron’ Mueller, MBA, Ph.D.
Helping THOUSANDS to SAVE a BUNDLE
by Creating Tax-Smart Home-Business Owners
Author, Speaker and Tax Educator
Did you know that “Home Business Tax-
Savings, Made Easy” has a NEW TITLE?
New name is “WINDFALL Tax-Savings
APPROVED for Small Business Owners”
New newest version (just weeks old) includes
all small-biz tax changes in the new 2018
“Tax Cuts & Jobs Act” – there were a LOT!
Check it out NOW at