Entries by Nathan

Tips to help taxpayers recognize tax scams

New versions of well-known tax-related scams appear every year…and 2019 is no different. No matter what time of year, taxpayers should be on the lookout for scams. Here are some things taxpayers should remember to help them spot scams and avoid becoming a victim. Phone scams The IRS does not leave pre-recorded, urgent or threatening […]

Taxpayers should be on the lookout for new versions of these two scams

With scam artists hard at work all year, taxpayers should be on the lookout for a surge of evolving phishing emails and telephone scams. Taxpayers should watch for new versions of two tax-related scams. One involves Social Security numbers related to tax issues. The other threatens taxpayers with a tax bill from a fictional government […]

Tax transcript tips for those filing a FAFSA for the 2019-2020 college semesters

When filling out financial aid applications, students and families may need to get tax information to complete the Free Application for Federal Student Aid form. The IRS Data Retrieval Tool is available to use with the 2019‒2020 FAFSA Form. This tool is the fastest, most accurate way to input tax return information into the FAFSA […]

Taxpayers have the right to appeal an IRS decision

A taxpayer might at some point see the IRS make a decision about their taxes. If the taxpayer disagrees with this decision, they have the right to appeal it. The right to appeal an IRS decision in an independent forum is one of 10 basic rights known collectively as the Taxpayer Bill of Rights. Here […]

All taxpayers should plan ahead for natural disasters

Floods, wildfires, hurricanes, tornados and other natural disasters happen quickly and often with little warning.  No one can prevent these disasters from happening, but people can prepare for them. Here are some things taxpayers can do to help protect their financial safety should a disaster occur. Taxpayers should: Update emergency plans. A disaster can strike […]

Closing your Tax Office for the Year?

If you are planning to close your tax office for the year, here are some reminders: Update your IRS e-file Application to allow the IRS to communicate with you and prevent your Electronic Filing Identification Number (EFIN) from being inactivated. Verify and if needed, update your firm’s Principals, Responsible Officials, addresses and telephone numbers. Keep […]

Tax Preparers: Register for 2019 IRS Nationwide Tax Forums

The IRS reminds tax professionals to sign up for this summer’s 2019 IRS Nationwide Tax Forums. Tax professionals attending can earn up to 19 continuing education credits. The forums are three-day events featuring presentations by tax experts from the IRS and association partners. Topics on important tax issues currently facing tax professionals include cybersecurity, changes […]

Some taxpayers may need to amend their tax return

Taxpayers who discover an error after filing may need to amend their tax return. Taxpayers should file an amended return if there’s a change in filing status, income, deductions or credits. The IRS may correct mathematical or clerical errors on a return. They also may accept returns without certain required forms or schedules. In these […]

IRS expands retirement plan Determination Letter Program and Self- Correction Program

WASHINGTON — The Internal Revenue Service today announced the expansion of areas for issuing determination letters for certain retirement plans. Revenue Procedure 2019-20 details the addition of two areas for which retirement plan sponsors may now request determination letters. In addition, through recently issued guidance, the IRS is also making it easier for plan administrators […]

Six things taxpayers should know about the sharing economy and their taxes

From renting spare rooms and vacation homes to car rides or using a bike…name a service and it’s probably available through the sharing economy. Taxpayers who participate in the sharing economy can find helpful resources in the IRS Sharing Economy Tax Center on IRS.gov. It  helps taxpayers understand how this activity affects their taxes. It […]