To Taxpayers, IRS Clarifies Some Common Early Filing Season Myths

With the 2018 filing season in full swing, the Internal Revenue Service today offered taxpayers some basic tax and refund tips to clear up some common misbeliefs. Myth 1: All Refunds Are Delayed The IRS issues more than nine out of 10 refunds in less than 21 days. Eight in 10 taxpayers get their refunds […]

Six Reasons to E-file

For taxpayers who still file a paper return, there is no better time to switch to e-file. The IRS expects 90 percent of individual taxpayers to file electronically in 2018. Choosing e-file and direct deposit for refunds remains the fastest and safest way to file a complete and accurate income tax return and receive a […]

IRS Encourages Taxpayers to Renew ITINs

IRS Encourages Taxpayers to Renew ITINs; Delays Expected for Those Who Missed Deadline The Internal Revenue Service urges taxpayers with expired Individual Taxpayer Identification Numbers (ITINs) to renew them as soon as possible. Tax returns with expired ITINs will face processing delays and affected taxpayers may lose eligibility for key tax benefits until the ITIN […]

Tax Filing Season is Here – Things for Taxpayers to Consider

The IRS is now accepting tax returns as the annual tax filing season is underway. The IRS expects taxpayers to file more than 155 million returns this year. Here are some things for taxpayers to consider as they are filing: People have until Tuesday, April 17, 2018, to file their 2017 returns and pay any taxes […]

These Tax Credits Can Mean a Refund for Individual Taxpayers

Taxpayers who are not required to file a tax return may want to do so. They might be eligible for a tax refund and don’t even know it. Some taxpayers might qualify for a tax credit that can result in money in their pocket. Taxpayers need to file a 2017 tax return to claim these […]

What Members of Military Should Know about the EITC

What Members of Military Should Know about the Earned Income Tax Credit   The IRS reminds members of the military and veterans that they may qualify for the earned income tax credit. This credit benefits certain people who work and have earned income that’s less than $53,930. A tax credit usually means more money in the […]

Special Rules Help Many with Disabilities Qualify for EITC

IRS: Special Rules Help Many with Disabilities Qualify for Earned Income Tax Credit   The Internal Revenue Service wants taxpayers with disabilities and parents of children with disabilities to be aware of the Earned Income Tax Credit (EITC) and correctly claim it if they qualify. The IRS says that many with disabilities miss out on […]

Grandparents Caring for Grandchildren And Their EITC Eligibility

Grandparents Caring for Grandchildren Should Check Their Eligibility for EITC   Grandparents who work and are also raising grandchildren might benefit from the earned income tax credit. The IRS encourages these grandparents to find out, not guess, if they qualify for this credit. This is important because grandparents who care for children are often not aware that […]

Tax Preparers: Tips for Hiring a Cybersecurity Professional

To protect their offices and client data, many tax preparers hire a cybersecurity professional. Because every tax office is unique, preparers should consider specific concerns they have. They should present those to their cybersecurity professional, which will help safeguard both the preparer’s business and their clients’ data. The IRS provides these four things for tax preparers […]

IRS and States Warn Employers to Beware of Form W-2 Scam

IRS, States and Tax Industry Warn Employers to Beware of Form W-2 Scam; Tax Season Could Bring New Surge in Phishing Scheme The Internal Revenue Service, state tax agencies and the tax industry today urged all employers to educate their payroll personnel about a Form W-2 phishing scam that made victims of hundreds of organizations […]