If the IRS does call a taxpayer, it should not be a surprise because the agency will generally send a notice or letter first. Understanding how the IRS communicates can help taxpayers protect themselves from scammers… Taxpayers Can Protect Themselves from Scammers by Knowing How the IRS Communicates
The Internal Revenue Service (IRS) will send a notice or a letter for any number of reasons. It may be about a specific issue on your federal tax return or account or may tell you about… Notices & Letters from the IRS: Know What They Mean
Even with the extended tax filing deadline this year, some taxpayers may still have needed extra time to file their taxes. Most tax software companies make it easy to file Form 4868 to ensure their clients get… Filing a Tax Extension
The IRS is now making monthly child tax credit payments to eligible families. Depending on the age of your child, those payments can be as much as $300-per-kid each month from July to December. That’s an… Do you have to pay back the Child Tax Credit Payments?
The Biden administration has revised a controversial plan that would require banks and other financial services institutions to report account data to the Internal Revenue Service (IRS) in an effort to crackdown on tax cheats. The original… IRS new proposal to track nearly all bank accounts
Many individuals may not know they can request, receive, and review their tax records via a tax transcript from the IRS at no charge. Transcripts are often used to validate income and tax filing status… Review Your IRS Tax Records With Tax Transcript At No Charge
The IRS announced a new webpage that provides information to taxpayers whose large refunds are subject to further review by the Joint Committee on Taxation (JCT or Joint Committee). By law, when taxpayers claim a federal tax… IRS Launches New Webpage To Assist Taxpayers With Refunds Subject To Joint Committee On Taxation Review
Originally enacted on July 4, 1966, the Freedom of Information Act established a statutory right of public access to Executive Branch information held by the federal government. The FOIA provides that any person has a right, enforceable… The Freedom of Information Act
The American Rescue Plan Act of 2021 modifies the IRS reporting requirement from $20,000 in aggregate payments and 200 transactions to a threshold of $600 in aggregate payments, with no minimum transaction number. The new rule is… New IRS rule will affect cash app business transactions in 2022
Whether you’re in Arizona to Washington, we have you covered with this in-depth guide on the latest news concerning financial help being sent out on a state level amid the coronavirus crisis. Find out what economic… October 2021 Stimulus Check Update: Some U.S. states are issuing their own stimulus checks and cash bonuses