Prepaid Real Property Taxes May Be Deductible

The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances. The IRS has received a number of questions from the tax community concerning the deductibility of prepaid real property taxes. In general, whether a taxpayer is allowed a deduction […]

Strong Passwords Help Keep Tax Data Safe

Passwords are often the key to guarding access to personal information and data stored on computers or sent over email. Because most taxpayers file their returns electronically and access account information online, it is critical for taxpayers to not only create strong passwords for all tax-related accounts, but to do everything in their power to […]

Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31

As tax filing season approaches, the Internal Revenue Service reminds taxpayers there are things they should do now to get ready for filing season. For most taxpayers, Dec. 31 is the last day to take actions that will impact their 2017 tax returns. For example, charitable contributions are deductible in the year made. Donations charged to a […]

Taxpayers Should Protect Data All Year Round

With the online holiday shopping season in full swing, it’s the perfect time for all taxpayers to take steps to protect their identities and personal data. This year, the IRS kicked off this annual event with National Tax Security Awareness Week. The IRS partnered with state tax agencies, the tax industry and other groups across the […]

Get to Know the Taxpayer Bill of Rights – Part 2

Every taxpayer has rights. The Taxpayer Bill of Rights takes these rights from the tax code and groups them into 10 categories. Taxpayers interacting with the IRS should know their rights, which are highlighted in Publication 1, Your Rights as a Taxpayer: The Right to Finality. Taxpayers have the right to know the maximum amount of time allowed to […]

Get to Know the Taxpayer Bill of Rights – Part 1

Every taxpayer has rights. The Taxpayer Bill of Rights takes these rights from the tax code and groups them into 10 categories. Taxpayers interacting with the IRS should know their rights, which are highlighted in Publication 1, Your Rights as a Taxpayer.   The Right to Be Informed. Taxpayers have the right to know how to comply with tax […]

Expiring ITINs Should Submit Renewal Applications by Dec. 31

The Internal Revenue Service reminds taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) to submit their renewal applications as soon as possible. Failing to renew them by the end of the year will cause refund and processing delays in 2018. The IRS mailed letters over the summer to more than 1 million taxpayers  whose ITINs are set […]

Small Businesses: Be Alert to Identity Theft

The IRS, state tax agencies and the nation’s tax industry joined together to warn small businesses to be on-guard against a growing wave of identity theft against employers. Small business identity theft is a big business for identity thieves. Just like individuals, businesses may have their identities stolen and their sensitive information used to open […]

Employers, Payroll Officials, Avoid the W-2 Email Scam

The IRS, state tax agencies and private-sector tax groups warned the nation’s business, payroll and human resource communities about a growing W-2 email scam that threatens sensitive tax information held by employers. These emails may start with a simple, “Hey, you in today?” and, by the end of the exchange, all of an organization’s Forms […]

Victims of Data Breaches Should Consider These Steps

The number of data breaches was already on a record pace for 2017 before the reported theft of nearly 145 million Americans’ names, addresses and Social Security numbers brought the issue to the forefront. Every day, data thefts large and small put people’s personal and financial information at risk. There are steps that data theft […]