Tax Refund Tracking Tips

2020-02-17T22:19:04+00:00February 17th, 2020|

 

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 […]

PTIN Renewal Time

2019-11-07T16:08:02+00:00November 7th, 2019|

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,” […]

Virtual Currency Reporting

2019-08-08T17:21:09+00:00August 8th, 2019|

IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency’s larger efforts

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 […]

Offshore Accounts: Dirty Dozen List Continues

2019-03-21T17:51:24+00:00March 21st, 2019|

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 […]

Phising Schemes: Don’t Be a Victim to Fraud

2019-04-10T19:36:04+00:00March 5th, 2019|

 

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 […]

Information Worth Reading

2019-04-18T14:39:51+00:00February 24th, 2019|

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, […]

Beware of the Ghost Tax Preparer

2019-02-11T23:13:42+00:00February 11th, 2019|

 

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 […]

Official E-File Day Released

2019-02-12T16:17:51+00:00January 29th, 2019|

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 […]

Business Expense for Meals and Entertainment- Save Your Receipts

2019-02-12T18:29:30+00:00October 19th, 2018|

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 […]

Go to Top