Taxing Subjects has another filing season update on the latest episode of the Taxing Subjects Podcast.…
Read more about Taxing Subjects on Tax Season Stats, Virtual Currency, and More – E42
The federal office tasked with overseeing the Internal Revenue Service says fraudulent claims for refundable credits are going through – in spite of the tools Congress gave the agency to stop them.…
Read more about IRS Allowing Fraudulent Credits to Go Through, Audit Finds
The first of many refunds claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) should make their way to their respective taxpayers very soon. The Internal Revenue Service says some returns have cleared the verification process and could appear in bank accounts this week.…
Read more about Coming to Bank Accounts Soon: EITC and ACTC Refunds
The new wage verification process inaugurated for the tax year 2016 filing season holds hope in the fight against fraudulent income tax returns, a new report finds, but the Internal Revenue Service faced more than a few challenges in carrying out the plan.…
Read more about GAO: W-2 Verification Promising, but More Work Remains
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.…
The Internal Revenue Service yesterday released a list of five common tax season myths, as well as links to YouTube videos that explain when refunds will arrive, claiming the EITC or ACTC, and more. Newswire release IR-2017-16 aims to reduce misinformation.…
Read more about Refund Myths: Sorting Truth from Fiction During Tax Season
The Earned Income Tax Credit is fairly well-known to be aimed at workers who don’t earn a lot of money in their jobs and who may be supporting a family. This year the EITC salary ceiling is $53,505,…
Read more about Special EITC Rules May Help Taxpayers with Disabilities
The Internal Revenue Service issued a press release Tuesday to remind taxpayers that 2015’s PATH Act will delay 2017 refunds. The delay comes from an anti-fraud, anti-theft provision in the act that slows down the refund process to better review returns claiming the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC), which will not be issued until at least February 15, 2017.…
Read more about IRS Pre-Holiday Reminder: 2017 Refunds Will be Delayed
Legislation expands the EITC due diligence requirements to include two other refundable credits – the Child Tax Credit or Additional Child Tax Credit, and the American Opportunity Tax Credit.…
Read more about 2017 Tax Season to See Expanded Due Diligence Reporting
It is particularly important tax preparers filing EITC (Earned Income Tax Credit) claims complete this section ...…
