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IRS Urges Travelers Requiring Passports to Pay Their Back Taxes

IRS Urges Travelers Requiring Passports to Pay Their Back Taxes or Enter into Payment Agreements; People Owing $51,000 or More Covered   The Internal Revenue Service today strongly encouraged taxpayers who are seriously behind on their taxes to pay what they owe or enter into a payment agreement with the IRS to avoid putting their […]

Deciding Whether and How to File? Here’s What to Remember

As people prepare to file their taxes, there are things to consider. They will want to determine if they need to file and the best way to do so. Here are three things for people to keep in mind as they prepare to file their taxes: Who is Required to File.  In most cases, income, filing […]

IRS Withholding Tables Frequently Asked Questions

Q: Why are these changes being made? A: The new withholding tables are needed to reflect the changes in tax rates and tax brackets, increased standard deduction and repeal of personal exemptions that were included in the new tax reform law signed in December. The withholding guidance issued today is for employers to make changes […]

More Time to Furnish Health Coverage Forms to Individuals

Employers and Coverage Providers have more Time to Furnish Health Coverage Forms to Individuals   The IRS extended the 2018 due date for certain employers and health coverage providers to furnish 2017 health coverage information forms to individuals.   The following organizations now have until March 2, 2018, to provide Forms 1095-Bor 1095-C to individuals: Insurers. Self-insuring employers. Other […]

Nine Facts About the Adoption Credit

Adoptive parents around the country may qualify for a tax credit. Parents who either adopted a child or tried to adopt a child may claim the adoption credit. Here are nine things you should know about this credit. Credit. The credit is nonrefundable. This means the credit may only reduce a taxpayer’s tax liability to zero. If […]

Security Partners Warn Tax Pros of Heightened Fraud Activity

The Internal Revenue Service, state tax agencies and the tax industry today warned tax professionals of early signs that cybercriminals already are at work as the nation’s tax season approaches. Fraudsters are using a new round of emails posing as potential clients or even the IRS to trick tax practitioners into disclosing sensitive information. The […]

Here’s Five Reasons to Use Direct Deposit for a Tax Refund

As taxpayers prepare for the January 29 start of filing season, they should consider a direct deposit of any refunds due. It’s easy, safe, fast — and the best way to get a refund. That’s why 80 percent of taxpayers choose it every year. IRS Direct Deposit: Is Fast. The quickest way for taxpayers to get their refund is to electronically […]

2018 Tax Filing Season Begins Jan. 29, Tax Returns Due April 17

The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February. The IRS will begin accepting tax returns on Jan. 29, with nearly 155 million individual tax returns expected to be filed in 2018. The nation’s […]

Ten Tips for Choosing a Tax Preparer

It’s the time of the year when many taxpayers choose a tax preparer to help file a tax return. These taxpayers should choose their tax return preparer wisely.  This is because taxpayers are responsible for all the information on their income tax return. That’s true no matter who prepares the return. Here are ten tips […]

Questions Preparers Should Ask Themselves About Office Security

Tax professionals can protect taxpayer data by simply looking around their own offices. Preparers can look for places where they store data. They should use a critical eye to assess whether that data is secure. Tax preparers should also remember that unsecured data will not always be on a computer. In fact, securing office space […]