Page 49 - W 2 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Letter carefully because they're going to give you specific instructions on what to do to help them. and make sure you get organized. pull all your tax returns from the last couple of years and don't throw your letter in the trash can or throw nit a drawer because you can get penalized very well if you don't follow instructions. >> people sometimes look thover that mail coming in. give us five tips in these areas that the irs seems to be paying a lot of attention to lately. >> failure to report all taxable income is a big thing. math errors and also taking higher than average deductions. let's...

They'll also look for information on identities and social security numbers. that's the first ingredient. second piece? simply a 1040 tax return form. with the information they've gotten online, they'll fill it in with a fake social security number, a fake name, we'll just say, and over here they have a w-2 form. they also fill that out. they'll use a fake business. it might be the corner store here. then they staple it, fold it up, and send it in to the irs. then what happens next, the third part, they get the checks. here's one, this is just a facsimile. they'll get 1 or maybe 15 of them bec...

If they leave them alone, it wouldn't be so complicated. >> gregg: but greg, if john white had come to the brothers two weeks earlier and suggested running that ad, it would have probably been a complete flop because folks weren't ready to do their taxes. they didn't have their w-2 forms yet. so it was serendipity. dad calls it luck, but i think it was being at the right place at the right time. >> gregg: even as h & r block expanded and passed the 1 million mark in 1961, your dad was very worried that congress could really put them out of business by simplifying the tax code. i read that on p...

Christine romans about prepping for tax season. i guess the irs is getting kind of tech-savvy, huh? >> i like the idea of keeping the irs to 140 characters or less, don't you? the irs is on twitter. in fact, i'm just looking it up right now. they've got a twitter account called at irs news for advice. also an app for your taxes. turbo chatax released the snap app. it's available on iphone and android phones. you can take a picture of the w-2 and it auto-fills the information to the irs form. the app is free but you pay $14.99 to file the rufrn and you can only do this if you file a 1040-ez for...

The year where you are starting to think about how you are going to wrap things up. end of year planning, end of life planning, retirement planning, this is a nice time in september as the leaves are starting to go brown in parts of the country to think about ways to make things easier down the line. check retirement income. how much you have to save to get where you want to go in retirement. it is a good time to think about wills, powers of attorney, make sure your insurance benefits are the right people. it is a good time. >> october study your benefits because you can make changes come nove...