More On Tax Planningfrom The Advisor's Professional Library
- IRAs: In General Individual Retirement Accounts are highly popular tools for contributing funds that grow on a tax deferred basis. Depending on the type of IRA, the accumulation can be tax free.
- Annuities: Estate Tax The value of certain types of annuities may be included in an estate’s value. Understanding the intricacies of these inclusions is a critically important aspect of estate planning.
The IRS is getting social. On Monday, the agency offered taxpayers and tax professionals five tips on how to stay informed about tax changes, initiatives, products and services through use of smartphones and other social media:
- IRS2Go, rolled out earlier this year, lets taxpayers get refund status and tax updates using a mobile device. IRS2Go is available for the iPhone or iTouch and Android devices.
- YouTube’s IRS video channels provide short videos on various tax-related topics in English, American Sign Language and a variety of foreign languages.
- Twitter includes tax-related announcements, news for tax professionals and updates for job seekers @IRSnews.
- Podcasts provide useful information on one tax-related topic per podcast. The short audio recordings are available on iTunes or through the Multimedia Center on IRS.gov (along with their transcripts).
- Widgets, which feature the latest tax initiatives and programs, can be placed on websites, blogs or social media networks, and direct others to IRS for information. The widgets can be found on Marketing Express, the marketing site that allows IRS partners and tax preparers to customize their IRS.gov communications products.
The IRS warned users of these tools not to post any confidential information, especially Social Security numbers and other confidential information, on websites or social media sites. The agency said it would not be able to answer personal tax or account questions on any of these sites.