Internal Revenue Service
Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.
It’s easy to make a mistake on your taxes, especially if you are a new business owner or running a small business. Before you file, dot your i’s and cross your t’s by making sure to use the correct tax forms.
Turbo Tax has stopped processing Colorado tax returns because of fraudulent filings.
The first clue it was a scam was the caller’s sense of humor. “We know government has no sense of humor,” Tom Logan said.
A marijuana business in Colorado has filed a lawsuit against the Internal Revenue Service for assessing a penalty for paying taxes in cash.
The city of Denver had earlier seized the properties and their contents from marijuana businesses that were raided by federal agents in late April. Now the state has taken over control.
A Denver attorney linked to medical marijuana businesses raided by federal agents last year was among several people arrested Friday as part of the ongoing investigation.
The tax filing deadline has passed but tax scammers are still trying to get their hands on people’s money.
Investigators from the Colorado Bureau of Investigation, Department of Labor and Employment, Colorado Department of Revenue and the Internal Revenue Service believe they have uncovered a complex scheme that successfully scammed the government.
Some tax filers are finding identity theft is getting in the way of their refunds.