Entries by Nathan

Taxpayers can now instantly get tax info on Instagram

Taxpayers can now get tax tips and helpful news from the IRS on Instagram. The agency just debuted it’s official Instagram account, IRSNews, which users can access at www.instagram.com/irsnews or on their smartphone using the Instagram app. Last year’s tax reform law brought many tax law changes that will affect virtually every taxpayer. The IRS […]

Here’s how tax preparers can protect themselves and their clients

Cybercriminals are stepping up their attacks on tax professionals. Because of this, the IRS urges tax preparers to take steps to protect client data and their computer networks from these threats. Thieves search for client data so they can create a fraudulent tax return that looks legit and might bypass IRS filters. They also impersonate […]

Tips for tax preparers on how to create a data security plan

IRS Tax Tip 2018-151, September 27, 2018 The IRS reminds tax preparers that protecting taxpayer information isn’t just good for their clients and good for business – it’s also the law. The Federal Trade Commission’s Safeguards Rule requires that tax preparers create and enact security plans. Although the IRS and its partners in the Security Summit are making progress […]

Strong passwords help protect accounts against cybercriminals

  The IRS urges everyone with any type of online account to review new, stronger standards to protect their passwords. Doing so will help protect against savvy cybercriminals who wants to access people’s accounts and steal their identities. Here are three steps people can follow to build a better password: Step 1: Leverage powers of […]

IRS.gov has many resources for tax preparers

IRS.gov has many resources for tax preparers As 2018 comes to a close, tax professionals around the country are getting ready for the 2019 tax filing season. Many of them will have questions, and many of these questions can be answered on IRS.gov. Here is a rundown of the tools and resources available on IRS.gov […]

Tool on IRS.gov helps taxpayers research charities before making donations

Tool on IRS.gov helps taxpayers research charities before making donations When people are done giving thanks at the dinner table, many start another kind of giving. The annual Giving Tuesday happens the week after Thanksgiving to kick off the season of charitable giving. This year, Giving Tuesday falls on Tuesday, November 27. Taxpayers may be […]

Tax pros should remember to renew their PTIN

Tax pros should remember to renew their PTIN Federal tax return preparers must renew their preparer tax identification numbers for 2019 as all current PTINs will expire Dec. 31, 2018. Here are several facts about PTINs and the PTIN renewal process: Preparers can get started at www.irs.gov/ptin. Anyone who gets paid to prepare or help […]

New IRS publication helps taxpayers Get Ready for tax reform

The IRS issued a new publication to help taxpayers learn about tax reform and how it affects their taxes. Taxpayers can access Publication 5307, Tax Reform Basics for Individuals and Families, on IRS.gov/getready. While last year’s Tax Cuts and Jobs Act includes tax changes for both individuals and businesses, this publication is specifically geared to individual […]

Here’s how tax reform changed accounting methods for small businesses

  The Tax Cuts and Jobs Act – better known simply as tax reform – allows more small business taxpayers to use the cash method of accounting. Tax reform now defines a small business taxpayer as a taxpayer that has average annual gross receipts of $25 million or less for the three prior tax years […]