Tag: Internal Revenue Service

State Tax Department No Longer Sending 1099s

West Virginia taxpayers will no longer receive copies of 1099-G and 1099-INT statements that the state files with the Internal Revenue Service, except by request.

The statements will be available for download at https://mytaxes.wvtax.gov . Tax Commissioner Dale W. Steager says the reduction will save more than $80,000 in mailing costs.

A 1099-G form shows the amount of a taxpayer’s refund, for those who itemize deductions on their federal returns. The 1099-INT form shows the amount of interest paid on a refund, to identify additional income for income tax purposes.

Taxpayers who don’t have online access may call and request forms. For taxpayers whose last name starts with the letters A to F, the number is (304) 558-8539; G to M is (304) 558-8540; and N to Z is (304) 558-8541.

Three Law Enforcement Agencies Get Cash Forfeited in Pill Case

Law enforcement agencies have received more than $1 million in forfeited cash for their participation in an investigation of a Barboursville pharmacy owner.

Federal prosecutors and the Internal Revenue Service announced the award Wednesday for the Charleston and Huntington police departments and the Boone County Sheriff’s Department.

The investigation led to the convictions of 19 people on federal charges, including 15 local drug dealers, two out-of-state drug suppliers and a pharmacy owner.

Prosecutors say a search of the suppliers’ home in Florida turned up bottles of oxycodone filled at A+ Care Pharmacy.

More than 50,000 pills, $2 million in cash and a luxury vehicle were seized from the pharmacy owner’s home. The owner, Kofe Agyekum, was sentenced in August to more than five years for avoiding federal cash reporting requirements.

Many West Virginians File Last-Minute Tax Returns

About 30 percent of West Virginia taxpayers wait until the final week to file their state returns.

Department of Revenue Deputy Secretary John Doyle tells The Exponent Telegram that the department receives about 25 percent of returns in the week before April 15. Another 5 percent to 8 percent of returns are received after April 15.

Procrastinating filing a return can delay receiving a tax refund.

Doyle says taxpayers who haven’t yet filed returns will have to wait four to six weeks to receive their refunds.

An Internal Revenue Service spokesman, Mark Hanson, says about 20 percent of taxpayers wait until April to file their federal returns.

More than 4,000 W.Va. Taxpayers Could Be Owed 2010 Refunds

The Internal Revenue Service says more than $3 million in federal income tax refunds for 2010 haven’t been claimed in West Virginia.
 
The IRS estimates 4,100 taxpayers in the state could be owed refunds.
 
Half of the potential refunds are estimated at $626.
 
The IRS says in a news release that some people might not have been required to file tax returns because they didn’t earn enough income. Taxes were still withheld from their wages, or quarterly estimated payments were made.
 
     Taxpayers must file a return for 2010 no later than April 15 in order to collect the refunds.
 
     The IRS says refunds might be held if these taxpayers also haven’t filed returns for 2011 and 2012.

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