The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), was enacted on December 18, 2015. The PATH Act contains several changes to the tax law that affect individuals, families, and businesses, and help safeguard against tax fraud. The PATH Act mandates that the IRS can not issue any refund on tax returns…
With millions of tax refunds being processed, the Internal Revenue Service reminds taxpayers they can get fast answers about their refund by using the “Where’s My Refund?” tool available on IRS.gov and through the IRS2Go app. More than 70 percent of taxpayers will receive a refund this year. The Internal Revenue Service issues nine out of…
Even without a government shutdown, taxpayers are having trouble getting through to the IRS at the start of the 2018 tax filing season. Busy signals and long hold times are leading to frustration. We’ve even heard of waits of longer than an hour on the “hotline” for tax practitioners. What’s more, the situation probably…
The Internal Revenue Service today announced steep declines in tax-related identity theft in 2017, attributing the success to the Security Summit initiatives that help safeguard the nation’s taxpayers. Key indicators of identity theft dropped for the second year in a row in 2017. This includes a 40 percent decline in taxpayers reporting they are victims…
With the surge of tax returns expected during the upcoming Presidents Day weekend, the Internal Revenue Service is offering taxpayers several tips and various time-saving resources to get them the help they need from the IRS quickly and easily. The IRS receives more phone calls on the day after Presidents Day than on any…
The IRS mails millions of letters to taxpayers every year for many reasons. Here are seven simple suggestions on how individuals can handle a letter or notice from the IRS: 1. Don’t panic. Simply responding will take care of most IRS letters and notices. 2. Read the entire letter carefully. If you don’t fully understand your…
If your Where’s My Refund? Status Bars Have Disappeared PLEASE READ! One way to determine what is going on with your tax return is to go to the IRS website and request an Account Transcript. The IRS has made the “Get Transcript Tool” available for users to be able to instantly view their transcripts Online…
Transaction Codes (TC) are essential three-digit identifiers used by the IRS to track and manage transactions on taxpayer accounts within the Master File system. These codes play a critical role in accounting controls, ensuring accurate recording of debits, credits, and other actions. Each Transaction Code is integral for posting transactions, generating reports, and identifying specific…
No matter how hard you try to safeguard personal information, there is still a chance that someone could steal or otherwise misuse your dependent’s Social Security number. Often, the use of another taxpayer’s Social Security number is a mistake resulting from another filer transposing the numbers during filing, but it can also be the result…
Millions of taxpayers are going transcript crazy right now and wasting the IRS time that they could be processing our returns. We all need to slow down if you order your transcripts by mail the IRS says to allow them 5-10 days for processing and delivery. The IRS also has a restriction on the time…
