February 9, 2012 11:40 am

IRS Releases New App

The IRS released IRS2Go 2.0, which is an expanded version of its smartphone application. The new app works on both the iPhone and Android platforms. It enables taxpayers to check the status of their federal tax refund, get tax updates, and follow the IRS Twitter newsfeed @IRSnews. The new version also enables taxpayers to view YouTube, get the latest news releases, and order tax return transcripts. The app is free.

Source: IR-2012-16

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Tax Glossary

Material participation tests

Rules for determining whether a person is active in a business activity for passive activity rule purposes. Unless the tests are met, passive loss limits apply.

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