As part of the Security Summit effort, the Internal Revenue Service announced today that starting in January the Identity Protection PIN Opt-In Program will be expanded to all taxpayers who can properly verify their identities.… IRS expands Identity Protection PIN Opt-In Program to taxpayers nationwide
The Internal Revenue Service (IRS) announced this week that in January 2021 taxpayers can apply for an Identity Protection Personal Identification Number (IP PIN). This single-use code is designed to block identity thieves from fraudulently… IP PINs now available to all taxpayers
Bitcoin mania is upon us. It has been widely publicized that the cryptocurrency, Bitcoin, has reached record highs in value over the past month. Investors are making nice profits with Bitcoin, and the IRS is… How The IRS Taxes Bitcoin
What Should I Do?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… I Got A Notice From The IRS
This Guide covers the many notices that the Internal Revenue Service sends to individual taxpayers regarding tax audits. IRS NOTICE NUMBER DESCRIPTION CP11âAudits This notice states that your return has been changed because the IRS… Your Guide For Tax Audits-IRS Notice Description
Now that many taxpayers have filed their federal tax returns electronically and the IRS is back to processing paper tax returns sent by mail, theyâre eager for details about their refund. When it comes to… Taxpayers Should Be Aware Of Myths About Tax Refunds
An IRS Account Transcript is an official record of your tax return activity, payments, and IRS actions for a specific tax year. It includes important transaction codes, dates, balances, account holds, offsets, and adjustment details… Whatâs An IRS Account Transcript?
With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits… Unemployment Compensation Is Taxable; Have Tax Withheld Now And Avoid A Tax-Time Surprise
Who is Self-Employed? Generally, you are self-employed if any of the following apply to you. You carry on a trade or business as a sole proprietor or an independent contractor. You are a member of a partnership that carries on… Self-Employed Individuals Tax Obligations
Whether itâs something theyâve been doing for years or something they just started to make extra money, taxpayers must report income earned from hobbies in 2020 on next yearâs tax return. What the difference between… Earning Side Income: Is it A Hobby Or A Business?
I sent a payment to the IRS. Why did I get a bill? If you mailed a payment to the IRS on or before July 15, it may still be unopened in the backlog of… Why Do I Owe A Penalty And What Can I Do About It?
Few things can generate as much taxpayer concern, confusion and controversy as an IRS audit. Tax audits are a critical compliance tool to help ensure fairness in the tax system, and the IRS works hard… IRS Audit Rates Significantly Increase As Income Rises
The Taxpayer Advocate Service (TAS) reintroduces its website with a new design and layout featuring a new digitally interactive Taxpayer Roadmap. The digital Taxpayer Roadmap features an interactive experience which allows taxpayers and tax professionals to… National Taxpayer Advocate Interactive Map: What Happens When You Are Audited
In todayâs world of electronic streamlining and technological advances, there is an app for everything. And thanks to a forward thinking team at the IRS, the IRS now has one too. In fact, many users… IRS2GO Mobile App Frequently Asked Questions
The Internal Revenue Service today encouraged taxpayers to take necessary actions in the final weeks of the year to help file federal tax returns timely and accurately in 2021. This is the third in a… Whatâs new and what to consider when filing taxes in 2021
When filing a tax return, most married couples choose to use the status of Married Filing Jointly. There are typically few downsides to choosing this filing status and it can reduce the amount of income tax… What is Innocent Spouse Relief?
No one likes filing their taxes, but not filing them at all is never a good idea. The IRS is a powerful collection agency, and an unforgiving one. Getting on the bad side of the… What to Do If You Have Unfiled Tax Returns
Taxpayers are reminded that if they have yet to file their federal income tax return, they still have a variety of options that are available to them. Not only is the IRS website accessible to taxpayers,… Taxpayers are reminded that Filing a Tax Extension is not an Extension to Pay Taxes
Tax professionals are being asked to increase efforts to inform clients about the Identity Protection PIN Opt-In Program that can protect against tax-related identity theft. The IRS, state tax agencies, and the nationâs tax industry… Obtain An Identity Protection (IP) Pin to Protect Against Tax-Related Identity Theft
On August 28, the IRS announced that it will temporarily allow the use of digital signatures, or e-signatures, on certain forms that cannot be filed electronically, that must be maintained on paper or that otherwise… IRS Allows Temporary Use of E-Signatures for Numerous Tax Forms
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
After a big win on a lotto ticket or after a great night at the casino, the last thing youâre probably thinking about is those pesky tax obligations that come along with it. While that… How To Report Gambling Winnings And Losses To The IRS
What is Tax Topic 151? You may receive a tax topic 151 letters in lieu of a full tax refund, or any refund at all. It can be alarming, as the notice often says to… Tax Topic 151: What Tax Code 151 Means
Health insurance can be pricey. Luckily, you can get a refundable tax credit just for purchasing health insurance through the Marketplace. Keep reading to find out how you qualify. What is the Premium Tax Credit… What is the Premium Tax Credit
The IRS announced significant enhancements to the âGet My Paymentâ tool to deliver an improved and smoother experience for taxpayers eligible to receive Economic Impact Payments. The enhancements adjusted several items related to the online tool, which debuted… IRS enhances Get My Payment online application to help taxpayers
The Internal Revenue Service went live with its “Get My Payment” portal Wednesday, April 15th. This is the much-anticipated tool where you can get information on the status of your federal stimulus payment as well as provide direct… Get My Payment Status
The U.S. Department of the Treasury and IRS launched the âGet My Paymentâ web application. The FREE app allows taxpayers who filed their tax return in 2018 or 2019 but did not provide their banking information on… IRS rolls out “Get My Payment” an official tool for tracking stimulus payments
Millions of Americans are starting to see Economic Impact Payments deposited directly in their bank accounts. The U.S. Department of the Treasury and IRS expect tens of millions of Americans will receive their payments via… 80 million Americans will receive a Stimulus Payment deposit by Wednesday, April 15
The U.S. Department of the Treasury and IRS will launch the âGet My Paymentâ web application by Friday, April, 17th. The FREE appâwhich will be found at IRS.govâwill allow taxpayers who filed their tax return… IRS plans to Launch âGet My Paymentâ Web App This Week
IRS.gov feature helps people who normally donât file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information To help millions of people, the Treasury Department and the… Treasury, IRS launches a new tool to help non-filers register for Economic Impact Payments
The Internal Revenue Service today reminds taxpayers and tax professionals to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments. To protect the public and employees, and… IRS urges taxpayers to use electronic options
The stimulus payments being sent out are REALLY advanced tax credits. I believe eligibility will be based on 2020 taxable income, but the advance payments being sent out will be based on 2019 adjusted gross… Stimulus Check FAQ’s
Federal student loan borrowers late on their payments have been granted some relief by the Department of Education, which will stop the collections process for federal student loans in default, including wage garnishment actions, which… U.S. Department of Education has Suspended Student Loan Debt Collection for 60 Days
The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people.… Economic impact Payments
As the COVID-19 (coronavirus) outbreak continues, the Internal Revenue Service is taking multiple steps to protect their employees, America’s taxpayers and their partners. Although they are curtailing some operations during this period, the IRS is continuing… IRS Mission-Critical Functions Continue During COVID-19 to Assist Taxpayers
The Internal Revenue Service has extended the deadline for filing individual tax returns for 2019 to July 15, 2020 from April 15 in response to the coronavirus pandemic. The change came just two days after… IRS extends tax deadline to July 15 from April 15
Some taxpayers have good news and a deposit on the way: The Treasury Department and IRS are sending refund interest payments to about 13.9 million individual taxpayers who filed their 2019 federal income tax returns… The IRS Will Pay Interest on Your Delayed Tax Refund
With millions of tax refunds being processed, the Internal Revenue Service reminds taxpayers they can get fast answers about their refund by using the âWhereâs My Refund?â tool available on IRS.gov and through the IRS2Go app. More… âWhereâs My Refund?â will be updated Saturday February 22, 2020 with Deposit Dates
The Internal Revenue Service (IRS) recognized Presidents Day as a federal holiday and is therefore closed. In anticipation of the upcoming holiday, the IRS warned people who planned to call before and after the holiday… Avoid the rush after Presidents Day holiday; Use IRSâ online tools to get help
The Protecting Americans from Tax Hikes (PATH) Act was created in order to protect taxpayers and their families against fraud and permanently extend many expiring tax laws. The law, which was enacted December 18, 2015,… Today will be the End of the 2020 PATH ACT REFUND HOLD
Sometimes the most challenging part of filing your taxes is simply knowing what to do with all the paperwork (or pdf-work? Is that a term?) that arrives in the mail (or your inbox). Similar names… What are the Differences Between Form 1095-A, 1095-B, and 1095-C?
IRS launches Identity Theft CentralFocuses on needs of taxpayers, tax professionals and businesses The Internal Revenue Service today launched Identity Theft Central, designed to improve online access to information on identity theft and data security… IRS launches Identity Theft Central
The Internal Revenue Service and its partners nationwide remind taxpayers about the Earned Income Tax Credit on January 31, 2020, âEITC Awareness Day.â This is the 14th year of the EITC awareness campaign that alerts millions… It’s Earned Income Tax Credit (EITC) Awareness Day!
Where’s my Refund? Updates Calendar for 2020 IRS Transcript and the Where’s My Refund? Updates Calendars! Tuesday Transcript Updates – Daily accounts are processed Friday, Monday, Tuesday or Wednesday. Tax returns that follow Daily processing will… 2020 Tax Refund Updates Calendar
Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold. According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue these refunds… Refund Timing for Earned Income Tax Credit and Additional Child Tax Credit Filers
The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. Taxpayers should choose their tax return preparer wisely. This is because itâs ultimately the taxpayer who… Taxpayers should remember these tips when searching for a tax preparer
While many people are required to file a tax return, itâs a good idea for everyone to determine if they should file. Some people with low income are not required to file but will need… Who should file a Tax Return?
Starting Tuesday, January 14, 2020, the Get an IP PIN tool will be available at IRS.gov/IPPIN for taxpayers who need to retrieve a lost/missing IP PIN or certain taxpayers who want to voluntarily enter the… 2020 Update on Identity Protection PIN retrieval tool from IRS
The IRS has announced that the 2020 tax filing season will begin on January 27, 2020. Tax preparation companies will be participating in the controlled launch of the e-file system (HUB Testing) with the IRS… IRS Announces the Start of E-File Test Batch(HUB Testing) for 2020
Most taxpayers can get an early start on their federal tax returns as IRS Free File â featuring brand-name online tax providers â opens today at IRS.gov/FreeFile for the 2020 tax filing season. Taxpayers whose adjusted gross… IRS Free File Opens Jan. 10, 2020!