Wednesday, Nov. 9th, from 4:00 pm – 7:00 pm, at the Hotel Bethlehem, The Eastern Pennsylvania Business Journal will be hosting a panel discussion on the impacts of Social Media and your business. Attorney Bartkus will be one of the panelists fielding questions on the evolving legal aspects of Social Media.
The confidential privilege created by IRC section 7525 is not universal as it applies to tax professionals. It applies only in non-criminal tax cases. Code section 7525(a)(2). Thus, in any criminal case or investigation, the communications with NON-attorneys are not protected, even if the communications originated in a civil context. See Chief Counsel Advice Memo. 2000-08006. For this reason, if you are not working with an attorney but there may be potential or actual criminal exposure in your case, you need to know about the limitations of code section 7525. You should consider hiring a tax attorney to handle the potential (or actual) criminal aspects of the case. Once an attorney is brought into the case, the attorney/client privilege applies to all communications between the attorney and the client, without regard to the limitations of section 7525.
What Happens after I File?
Now that the federal income tax filing deadline is in your rear-view mirror, what happens after you file? A lot of taxpayers have post tax-filing questions such as what records do I keep and more importantly, “Where’s my Refund?” The IRS has answers for you below.
Refund Information You can go online to check the status of your 2010 refund 72 hours after IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after you mail a paper return. Be sure to have a copy of your 2010 tax return available because you will need to know your filing status, the first Social Security number shown on the return, and the exact whole-dollar amount of the refund. You have three options for checking on your refund:
- Go to http://irs.gov/ and click on “Where’s My Refund”
- Call 800-829-4477~24 hours a day, seven days a week, for automated refund information
- Call 800-829-1954 during the hours shown in your tax form instructions
- Use IRS2Go. If you have an Apple iPhone or iTouch or an Android device you can download an application to check the status of your refund.
What Records Should I Keep? Normally, tax records should be kept for three years, but some documents, such as records relating to a home purchase or sale, stock transactions, IRAs and business or rental property, should be kept longer.
You should keep copies of tax returns you have filed and the tax forms package as part of your records. They may be helpful in amending already filed returns or preparing future returns.
Change of Address If you move after you filed your return, send Form 8822, Change of Address, to the Internal Revenue Service. If you are expecting a paper refund check, you should also file a change of address with the U.S. Postal Service.
What If I Made a Mistake? Errors may delay your refund or result in notices being sent to you. If you discover an error on your return, you can correct your return by filing an amended return using Form 1040X, Amended U.S. Individual Income Tax Return.
Visit the IRS website at http://www.irs.gov/ for more information on refunds, record keeping, address changes and amended returns.
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