The Internal Revenue Service today encouraged taxpayers to take important actions this month to help them file their federal tax returns in 2022, including special steps related to Economic Impact Payments and advance Child Tax…
There are steps people, including those who received stimulus payments or advance child tax credit payments, can take now to make sure their tax filing experience goes smoothly in 2022. They can start by visiting the Get Ready…
Kicking off a special week, the Internal Revenue Service and the Security Summit partners today warned taxpayers and tax professionals to beware of a dangerous combination of events that can increase their exposure to tax scams or…
The IRS reminds taxpayers there are things they should do before the current tax year ends on Dec.31. Donate to charityTaxpayers may be able to deduct donations to tax-exempt organizations on their tax returns. As…
The Internal Revenue Service and the Treasury Department announced today that millions of American families will soon receive their advance Child Tax Credit (CTC) payment for the month of November. Low-income families who are not…
The Internal Revenue Service today encouraged taxpayers, including those who received stimulus payments or advance Child Tax Credit payments, to take important steps this fall to help themselves file their federal tax returns in 2022.…
The Internal Revenue Service has issued another round of refunds to workers who paid taxes on their unemployment benefits in 2020. This round of refunds totaled more than $510 million and went to 430,000 workers…
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…
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…
Millions of Americans have already received refund payments after completing their tax filing, but there are concerns that tax return processing could soon face delays. This year’s tax season is expected to be a bumper year…
The first step of tax preparation is gathering records As taxpayers get ready to file their tax returns, they should start by gathering their records. Taxpayers should gather all year-end income documents to help ensure…
The Internal Revenue Service is reminding taxpayers that organizing tax records is an important first step for getting ready to prepare and file their 2020 tax return. Taxpayers should keep all necessary records, such as…
Following an unpredictable year with many changes and challenges, the Internal Revenue Service today shared important reminders for taxpayers who are about to file their 2020 federal tax returns. Choose direct deposit The safest, most…
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.gov feature helps people who normally don’t 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…
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…
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…
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…
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…
The IRS Just Made It Easier to Report Identity Theft Identity theft during tax season has exploded over the last few years. The IRS has now created a dedicated online hub called Identity Theft Central,…
With tax season beginning soon, the Internal Revenue Service reminds taxpayers that choosing to have their tax refund directly deposited into their checking or savings account is the fastest way to get their money. It’s…
The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, January 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns.…
The agency and the tax-collection system it oversees are on the brink of catastrophic collapse. Anyone who deals with the IRS on a regular basis knows that the agency is in trouble: IRS employees are…
The Internal Revenue Service launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year. The Tax Withholding…
The Internal Revenue Service and its Security Summit partners today warned taxpayers and tax professionals about a new IRS impersonation scam campaign spreading nationally on email. Remember: the IRS does not send unsolicited emails and…
According to the IRS Strategic Plan FY 2018 to 2020, these are the major Trends and Challenges going forward: SERVING AN INCREASINGLY COMPLEX TAX BASE The U.S. tax base is becoming more complex. Economic and demographic…
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. The…
National Taxpayer Advocate Nina E. Olson today released her 2018 Annual Report to Congress, describing challenges the IRS is facing as a result of the recent government shutdown and recommending that Congress provide the IRS with…
With a new tax law in effect and a surge of tax returns expected during the Presidents Day weekend, the Internal Revenue Service is offering taxpayers several tips and various time-saving resources to get them…
Today, towards the end of the second full week of the 2019 tax filing season, the Internal Revenue Service warned taxpayers to avoid unethical tax return preparers, known as ghost preparers. By law, anyone who…
The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for…
The IRS announced the 2019 opening day of its Free File program, which provides free electronic filing to qualifying taxpayers, generally those who earned $66,000 or less last year. The program is opening before the…
WASHINGTON ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that…
The White House will order the IRS to pay income tax refunds despite the government shutdown, Russ Vought, acting director of the Office of Management and Budget, said at a briefing with Vice President Mike Pence. The IRS…
The IRS faces a particularly challenging rollout to the 2019 filing season, best summarized in four words: more work, fewer employees. President Donald Trump signed the latest tax reform law in December 2017, but the…
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…
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…
The IRS Just Updated the Withholding Tables for This Year Any time the IRS updates the federal income tax withholding tables, it immediately affects your net paycheck, not just your yearly refund.These tables determine how…
The Internal Revenue Service reminds taxpayers with expiring Individual Taxpayer Identification Numbers (ITIN) to submit their renewal applications as soon as possible. Failing to renew them by the end of the year will cause refund…
During the online holiday shopping season, the IRS, state tax agencies, and the tax industry remind people to be vigilant with their personal information. While shopping for gifts, criminals are shopping for credit card numbers,…
The Internal Revenue Service today advised taxpayers about steps they can take now to ensure smooth processing of their 2017 tax return and avoid a delay in getting their refund next year. This is the…
The fiscal year 2018 budget plan the House Budget Committee approved in July calls for a radical change in the Earned Income Tax Credit (EITC) that could harm millions of low-income working families and cause…
The Internal Revenue Service has announced a couple of big changes they have planned for the e-Services system in the coming months. The first is the transfer of the e-Services system to a new platform,…
We have received many questions from clients and relationships, discussing casualty loss tax deduction rules. The President approved a disaster declaration for Florida on Sunday, September 10, clearing the way for more support as Hurricane…
The Internal Revenue Service didn’t properly implement some provisions of the PATH Act aimed at reducing improper payments for refundable tax credits, instead allowing an estimated $152 million in credits, according to a new report.…
The Internal Revenue Service is planning June 18 as the tentative date for moving its e-Services platform to what it promises will be more secure and modern technology. In recent years, the IRS has experienced…
Applying for financial aid just got a little bit harder for families looking to get a bit of help sending someone to college next fall. As of yesterday, the U.S. Department of Education and IRS…
In 2016, the Criminal Investigation (CI) division of the Internal Revenue Service initiated 3,395 cases in the fiscal year 2016 that focused on tax-related identity theft, money laundering, public corruption, cybercrime, and terrorist financing. That’s according to…
The Internal Revenue Service today reminded taxpayers that the next couple of weeks, especially around Presidents’ Day, marks the busiest time of year for IRS toll-free phone services. Taxpayers can avoid the rush by getting…
What Early Filers Should Know Before Expecting Direct Deposit Updates Every year when filing season opens, the IRS begins receiving millions of tax returns at the same time. Many taxpayers assume that filing early automatically…