Every day, the theft of personal and financial information puts people at risk of identity theft. Generally, thieves try to use the stolen data as quickly as possible to: Sell the information to other criminals. Withdraw money from a bank account. Make credit card purchases. File a fraudulent tax return for a refund using victims’… Read More

All taxpayers have basic rights when filing taxes and dealing with the IRS. This tip is one in a series that outlines the Taxpayer Bill of Rights, which groups the multiple existing rights in the nation’s tax law into 10 categories. This makes it easier for taxpayers to find, understand and take advantage of their rights.… Read More

The earned income tax credit is a benefit for working people with low and moderate incomes. To qualify, taxpayers must meet certain requirements and file a tax return, even if they don’t owe any tax or aren’t required to file. Here are some things taxpayers should know about the EITC: It’s Important to Review Eligibility… Read More

The Internal Revenue Service today reminded taxpayers and tax professionals that they will be asked to verify their identities if they call the IRS. This is part of the agency’s efforts to keep taxpayer data secure from identity thieves. Days before and after Presidents Day mark the peak period for taxpayer phone calls to the… Read More

Scam Alert: IRS Urges Taxpayers to Watch Out for Erroneous Refunds; Beware of Fake Calls to Return Money to a Collection Agency    The Internal Revenue Service today warned taxpayers of a quickly growing scam involving erroneous tax refunds being deposited into their bank accounts. The IRS also offered a step-by-step explanation for how to… Read More

Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able to claim an exemption for each of their dependents. Each exemption normally allows them to deduct $4,050 on their 2017 tax return. While… Read More

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… Read More

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… Read More

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… Read More

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… Read More