The IRS has recently issued a new alert on a phishing technique directed toward members of the military, retirees, and civilian employees. Phishing is a criminal attempt to acquire personal information such as social security number, username and login information, credit card numbers and more. More often than not these attempts are electronically based and present themselves as legitimate emails and/or webpages. You should always be vigilant when giving out your personal information and should rarely if ever provide this information to an unknown source. Never enter this information after following a link from an email or suspicious website. This new scam appears to be an email from DFAS (Defense Finance and Accounting Service) and even appears as a .mil email address. The email promises pthe possibility in increased availability for disability compensation from the Department of Veterans Affairs and then asks the recipient to send off various forms to verify eligibility. Once these forms are sent the scammers will use the information on them to instigate identity theft. The IRS is actively pursuing this case and others like it but vigilance is key. As soon as this threat is neutralized there will undoubtedly be another to take its place. The IRS maintains a list of current phishing scams that is constantly updated. You can access this list here. Please know that TaxSlayer.com will NEVER request your personal information via email and ONLY through our secure servers.

Millions of American’s file amended or original tax returns after the tax deadline every year. Both are subject to different limitations and scenarios. Hopefully I can help explain both of them to you in order to make the process a little bit easier for you. Keep in mind that TaxSlayer.com has all of the tools to make filing your amended tax return, or a tax return following an extension, as easy as possible. Amended Tax Return Amended tax returns can be filed for a variety of reason. In short, you should file an amended tax return if any of the return information was incorrectly entered or omitted on the original tax return. For example, say you overlooked a small W2 for an odd job that you worked during the year. You have already filed your tax return but realized after the fact that you forgot to include that W2. You can go back and amend the return, by adding the W2 that was previously left off, and correct the situation. One key item to remember is that almost all forms provided to you have also been provided to the IRS. This means that your tax filing may not match the tax FILE that the IRS has for you. While this discrepancy may not have been caught at first, the IRS will eventually notice the difference. A lot of people may neglect filing an amendment because they are afraid they will have to pay additional tax. While this is not always true, it is best to correct the mistake as early as possible to avoid paying increased penalties and interest down the line. Also, many times an amendment can result if a BIGGER refund. This is money that is owed to you by the IRS that you would not receive should you not file an amendment. You can also file an amendment for things such as changes in deductions or missing credits to name a few. If your amendment does result in additional refund, make sure you wait until you have received the original refund before you file the amendment. All amendments must be filed within 3 years of the original return filing or within 2 years of the date on which you paid the taxes due, whichever is later. TaxSlayer’s amended return module is very easy to use and has all of the familiar tips and tools to help you on your way. Tax Extension While taxes may be due on April 15th (or April 17th this past tax season) many people file extensions to allow them to file their tax return no later than October 15th of the same year. One common mistake that people make is in thinking that by filing an extension they are also extending the amount of time that they have to pay any tax that they may owe. This is NOT the case. All taxes owed are still due by the original filing deadline. You can request a tax extension in one of three ways. You can either file for the extension online (using TaxSlayer.com), you can pay all or some of the estimated tax that you owe, or you can mail in an application. All of these must be done by the filing deadline. TaxSlayer makes filing an extension very easy. Once you have filed for the extension in one of the methods mentioned above you can file your return like normal using TaxSlayer.com These are two very common question marks for users of TaxSlayer.com. I hope this has helped explain them even more. As always our support team at TaxSlayer is here and available to help with any questions that you may have. Feel free to email the at support@taxslayer.com.

As a society we continue to progress further and further towards becoming completely digital. Once attributed to the likes of sci-fi and the jetsons, acts such as depositing checks via cell phone and voice controlled cars are becoming common place. Along with advances in the digital lifestyle have come advances in digital crime. Identity theft remains at the forefront of digital crime. While advances are being made on a daily basis to combat identity theft, the fact remains that the criminals got a significant head start. The IRS defines identity theft as when someone uses your personal information such as your name, SSN etc., without your permission, to commit crimes. In recent years we have seen more and more cases of personal information being used to file fraudulent tax returns. TaxSlayer.com has implemented a number of safeguards against fraudulent returns and monitor our system on a daily basis in an effort to detect any cases of fraud. In conjunction with IRs identifiers we are making significant progress against these criminals. With that being said fraud is always a possibility. You may not know that fraud has been committed until after the fact. In many cases these criminals will use your information to file a tax return as early as possible and will try to obtain a fraudulent tax return before you have even filed. Be alert to red flags such as IRS notices stating that more than one return has been filed, you have an unknown balance due from a year that you did not file, or the IRS shows wages from an unknown employer. If you feel that you are a victim of identity theft contact the IRS immediately to begin the process of combatting the fraud. If you believe that you are at risk you can also contact the IRS has have them implement special safeguards. Always remember that at TaxSlayer.com we are always here to help as well. Remember, it always pays to be cautious. TaxSlayer.com maintains the strictest standards for making sure that your information is never compromised within our system and that is our guarantee to you.

Many people often wonder what they need to do when they have received another tax document after filing their tax return. Do you let the IRS contact you or do you re-file your tax return? In most cases, you will need to file an amended tax return. An amended return is a revised tax return indicating that a change was made to the original tax return. You will need to file Form 1040-X and mail it into the IRS. The IRS does not allow electronic filing of an amended tax return. It generally takes 8 to 12 weeks to process an amended return. You will need to file an amended return with the IRS if you discover an error, change your filing status, add dependents, or if your income, deductions, or credits are incorrect. You will not need to file an amended return to correct math errors or if you left off certain schedules or forms. Generally, the IRS will automatically make corrections or send a request to you to submit left off schedules and forms. If the IRS owes you money from a prior tax year, you can’t delay in sending in your amended tax return. Generally, to claim a refund, you will need to file form 1040X within 3 years from the due date of your original return or within 2 years from the date you paid the tax, whichever is later. If you don’t, chances are you can kiss that refund goodbye! As a side note, in 2008, the IRS had $1 Billion in unclaimed tax refunds. Filing an amended return is the right thing to do if your return requires changes. Sometimes finding an extra document or taking another look at a past tax return can reveal some extra money for you.