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Under the Affordable Care Act, insurance companies, self-insured companies, and large businesses and businesses that provide health insurance to their employees must submit information returns to the IRS and individuals reporting on health coverage. Taxpayers can use the information...
You should always keep a copy of your tax return. It is even more important for 2017, as the Internal Revenue Service moves to strengthen its e-signature validation process. You must use your 2015 adjusted gross income or your...
If you get a call from the “IRS” threatening you with lawsuits or jail unless you pay up immediately … Guess what? It’s a scam. IRS impersonation and tax scams by phone, email, postal mail and text are ongoing....
WASHINGTON — The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage...
IRS Strengthens Web Tool Access, Offers Tips for Use As part of a wider effort to protect taxpayers, the Internal Revenue Service took steps this year to strengthen access to several IRS.gov applications, including adding requirements for the use...
A Series of Yes-or-No Questions help you Determine Eligibility for the Premium Tax Credit The premium tax credit – also known simply as PTC – is a credit for certain people who enroll, or whose family member enrolls, in...
Simply ask for it. That’s the easiest way for an identity thief to steal your personal information. Each day, people fall victim to phishing scams through emails, texts or phone calls and mistakenly turn over important data. In turn,...
The Internal Revenue Service and its Security Summit partners are warning taxpayers and tax professionals of fake IRS tax bills related to the Affordable Care Act. The IRS has received numerous reports of scammers sending a fraudulent version of...
WASHINGTON – As tax filing season approaches, the Internal Revenue Service is reminding taxpayers about steps they can take now to ensure smooth processing of their 2016 tax return and avoid a delay in getting their tax refund next...
A new federal law moves up the for employers and small businesses to Jan. 31. The new law makes it easier for the IRS to find and stop refund fraud. It also delays some taxpayer refunds. Those taxpayers claiming...
Millions of taxpayers ask for an extra six months to file their taxes every year. If you are one of them, then you should know that Monday, Oct. 17 is the extension deadline in 2016. This is so because...
WASHINGTON ― With another school year now in full swing, the Internal Revenue Service today reminded parents and students that now is a good time to see if they qualify for either of two college tax credits or other...
If you’re recently married, you probably have a list of things to do. There’s one other thing you should add to that list: a health insurance review. This is particularly important if you enrolled in coverage through a Health...
Report any gambling winnings as income on your tax return. Be sure you itemize to deduct gambling losses up to the amount of your winnings. If you are a casual gambler, these tax tips can help: 1. Gambling income....
WASHINGTON — The Internal Revenue Service today encouraged taxpayers to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017. Taking a closer look at the taxes being withheld can help ensure...
If you are divorcing or recently divorced, taxes may be the last thing on your mind. However, these events can have a big impact on your wallet. Alimony and a name or address change are just a few items...
Understanding your tax obligation is one key to business success. When you start a business, you need to know about income taxes, payroll taxes and much more. Here are five IRS tax tips that can help you get your...
Usually, profits you earn are taxable. However, if you sell your home, you may not have to pay taxes on the money you gain. Here are ten tips to keep in mind if you sell your home this year....
Looking for a gift to give after all those June weddings? How about some solid tax advice for the newlyweds? Taxes may not be top-of-mind for most new couples, but there are some important tax issues they should be...
