The IRS won’t share any information a taxpayer gives IRS with outside parties, unless allowed by the taxpayer or by law. This is the right to confidentiality – the eighth of ten rights taxpayers have under the Taxpayer Bill...
When the IRS makes a determination about someone’s tax return, that person can challenge the IRS’s decision. In fact, the taxpayer has a right to do so. This is one of ten rights laid out in the Taxpayer Bill...
The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. These taxpayers should choose their tax return preparer wisely. This is because it’s ultimately the taxpayer who...
WASHINGTON – The Treasury Department and Internal Revenue Service today issued Revenue Procedure 2020-13 providing procedures for farmers who have elected out of certain capitalization rules and want to apply the small business taxpayer exemption in the same taxable...
WASHINGTON – As part of a larger effort to ensure compliance and fairness, the Internal Revenue Service today announced that it will step up efforts to visit high-income taxpayers who in prior years have failed to timely file one...
It’s a good idea for people to find out if they should file using the standard deduction or itemize their deductions. Deductions reduce the amount of taxable income when filing a federal income tax return. In other words, they...
Focuses on needs of taxpayers, tax professionals and businesses IR-2020-27 WASHINGTON – The Internal Revenue Service today launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals...
The earned income tax credit benefits millions of taxpayers who qualify by putting more money in their pockets. This money can help with things like food, gas, clothing and even saving for a rainy day. Here’s some information for...
IRS Accepts Return By: Direct Deposit Sent (Or Paper Check Mailed one week later): Jan. 27, 2020Feb. 7, 2020 (Feb. 14, 2020) Feb. 3 Feb. 14 (Feb 21) Feb. 10 Feb. 21 (Feb 28) Feb. 18 (President’s Day is a holiday)Feb....
When something happens to a taxpayer’s account, that person has the right to be informed about the activity. In fact, this right is one of ten in the Taxpayer Bill of Rights. The Taxpayer Bill of Rights takes the...
By Michael Cohn January 08, 2020, 11:49 a.m. EST The Internal Revenue Service’s new anti-fraud filters are unnecessarily flagging millions of tax returns and delaying legitimate tax refunds for weeks or months, according to a new report from the acting...
WASHINGTON – With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical “ghost” tax return preparers. According to the IRS, a ghost preparer does not sign a tax return...
IRS YouTube Videos: Direct Deposit for Your Tax Refund − English WASHINGTON — With tax season beginning soon, the Internal Revenue Service reminds taxpayers that choosing to have their tax refund directly deposited into their checking or savings account...
WASHINGTON — The Treasury Department and Internal Revenue Service issued proposed regulations to reflect changes from the Tax Cuts and Jobs Act (TCJA) on the tax deductibility of officers’ compensation by publicly held corporations. On Aug. 21, 2018, the...
Taxpayers should always be on the lookout for scams. Thieves want to trick people in order to steal their personal information, scam them out of money, or talk them into engaging in questionable behavior with their taxes. Scam attempts...
Taxpayers who are contacted by a private collection agency on behalf of the IRS might have questions about the program. These taxpayers can visit IRS.gov to find answers to questions they might have. In fact, to better help these...
WASHINGTON — The Internal Revenue Service today announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. The IRS announced this and other changes in Notice 2019-59, posted today on IRS.gov. This guidance...
Some taxpayers may think they need to visit an IRS office for help in person with their tax issues. However, many of these people may actually find what they need online or by phone. In fact, many questions can...
With scam artists hard at work all year, taxpayers should watch for new versions of tax-related scams. One such scam involves fake property liens. It threatens taxpayers with a tax bill from a fictional government agency. Here are some...
It’s almost here…the filing deadline for taxpayers who requested an extension to file their 2018 tax return. This year’s deadline is Tuesday, October 15. Even though time before the extension deadline is dwindling, there’s still time for taxpayers to...