The effort to thwart identity theft and tax fraud has made this tax season more frustrating than usual for a lot of American taxpayers. Besides new rules on security at the federal level, numerous states have taken big steps to increase security on their end as well.…
American tax payers have roughly the same chances of being audited by the Internal Revenue Service as a taxpayer back in 2004. But it’s not because they’re doing a better job on their income tax return.…
We’ve always been skeptical of that old marketing phrase, “Free Money.” But some taxpayers who filed their 2013 returns may still have a tax refund waiting for them.The Internal Revenue Service says…
Taxpayers who made certain energy-efficient improvements to their homes last year may qualify for a tax credit.…
Read more about Don’t Forget the Tax Credit for an Energy-Efficient Home
If two thirds of your client’s gross income comes from farming or fishing and that client want to avoid making estimated tax payments, then the deadline to file a Form 1040 for tax year 2016 is March 1, 2017. Whether they’re looking to pay everything now or expect to make estimated payments, the IRS wants taxpayers to know that Direct Pay can make paying tax easier.…
Read more about IRS Direct Pay Could Help Farmers, Fishermen Meet March 1 Tax Deadline
Scams Include Tax-Related ID Theft, Tax SheltersEach year, the IRS releases their list of the “Dirty Dozen” scams to inform taxpayers about criminals who hope to capitalize on a busy, stressful time…
Chalk up a new low for those who seek to steal taxpayers’ personal information. The Internal Revenue Service says a scam has surfaced that uses Video Relay Services (VRS) to trick hearing-impaired taxpayers into divulging personal and financial information to identity thieves.…
A few days ago, Taxing Subjects alerted tax professionals to a scam that targeted their tax software accounts. Now, the Security Summit, the joint tax task force of Internal Revenue Service, state tax agencies and tax industry partners, has issued more information on the scam and guidance on what to do.…
Read more about Security Summit Renews Alert on “Access Locked” Scam
The Internal Revenue Service says data from approved filings of Form 1023, the Streamlined Application for Recognition of Exemption, is now available online for the first time. The move means publicly available data can be accessed in spreadsheet form for tax years starting in mid-2014 (when the 1023-EZ was introduced) through 2016.…
Read more about IRS Makes Form 1023-EZ Data Available Online
As part of the Avoid the Rush tax tip series, the IRS yesterday reminded taxpayers about Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refund delays. In addition to how weekends and Presidents Day fall on the calendar this year, one reason refund checks for returns claiming these credits will be delayed is the Protecting Americans from Tax Hikes (PATH) Act.…
