WASHINGTON — With a surge of tax returns expected the two weeks following the February 17 Presidents Day holiday, the Internal Revenue Service is offering taxpayers several tips and various time-saving resources to get them the […]
WASHINGTON — The Internal Revenue Service today urged tax return preparers to start the upcoming 2020 filing season smoothly by renewing their Preparer Tax Identification Numbers now. All current PTINs will expire Dec. 31, 2019.
“Last year we issued more than 813,000 PTIN’s and are asking tax preparers to renew now to avoid a last-minute rush,” […]
WASHINGTON — The Internal Revenue Service has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or […]
The Internal Revenue Service is offering a free webinar. They’ll be focusing on the importance of filing a return on time, even if the tax due cannot be paid.
Though primarily designed for tax professionals, many people who prepare their own returns may find this webinar helpful. The webinar, “Filing is the Thing to Do, […]
WASHINGTON — Hiding money or assets in unreported offshore accounts remains on the Internal Revenue Service’s “Dirty Dozen” list of tax scams for 2019.
Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime, including offshore schemes. Many of these peak during filing season as people prepare their tax returns […]
WASHINGTON — Kicking off the annual “Dirty Dozen” list of tax scams, the Internal Revenue Service warns taxpayers of the ongoing threat of internet phishing scams that lead to tax-related fraud and identity theft.
The IRS warns taxpayers, businesses and tax professionals to be alert for a continuing surge of fake emails, text messages, websites and […]
In order to combat identity theft and fraud, the IRS may require additional information as part of the Taxpayer Protection Program. Failure to provide this information may result in the IRS flipping the taxpayer’s disbursement to an IRS-mailed check.
In these situations we do not receive your client’s refund, so we can’t collect your fees, […]
The Internal Revenue Service is warning taxpayers to avoid unethical tax return preparers, known as ghost preparers.
By law, anyone who is paid to prepare or assist in preparing federal tax returns must have a valid 2019 Preparer Tax Identification Number, or PTIN. Paid preparers must sign the return and include their PTIN.
But ‘ghost’ preparers do […]
IR-2019-07, January 28, 2019
WASHINGTON ― The Internal Revenue Service successfully opened the 2019 tax-filing season today as the agency started accepting and processing federal tax returns for tax year 2018. Despite the major tax law changes made by the Tax Cuts and Jobs Act, the IRS was able to open this year’s tax-filing season one […]
WASHINGTON — The Internal Revenue Service issued guidance on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA).
The 2017 TCJA eliminated the deduction for any expenses related to activities generally considered entertainment, amusement or recreation.
Taxpayers may continue to deduct 50 percent of the cost of […]