In a further warning to individuals and businesses who may be tempted by too-good-to-be-true marketing, the Internal Revenue Service added the widely-circulating promoter claims involving Employee Retention Credits (ERCs) to its annual list of Dirty Dozen tax scams....
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The IRS Reminds Businesses to Watch Out for Improper Employee Retention Credit Claims
The Internal Revenue Service continues to warn businesses to watch out for aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC) and urges people to watch out for red flags that can signal trouble. The ERC is a legitimate pandemic-era...
The IRS Reminds Consumer Awareness of Clean Fuel Vehicle Benefit Changes
The IRS recommends that consumers planning to purchase an electric vehicle understand several recent changes to the Clean Vehicle Credit for qualified electric vehicles, such as The Inflation Reduction Act (IRA). In 2022, the IRS made several changes to the new Clean...
The IRS Tackles High-Income Taxpayers
The estimated amount of unpaid taxes (the “tax gap”) from 2014 through 2016 is nearly $500 billion. More than half of this amount is due to taxpayers who underreport their income and therefore underpay their tax liabilities. In fact, nearly 80% of the tax gap is made...
The IRS Lost Sensitive Business and Individual Tax Account Information
Despite the requirement for the IRS to conduct annual inventories of microfilm backup cartridges containing sensitive taxpayer account information, the Treasury Inspector General for Tax Administration (TIGTA) found that the IRS has not only failed to meet this...
IRS Announces Fast-Track Program for Private Letter Rulings
A Private Letter Ruling (PLR) is a coveted letter issued by the IRS to a specific taxpayer concerning the tax law and application to one or more specific set of facts represented by the taxpayer, that are unclear. Although the PLR may only be relied upon by the...
No More Surprise Visits by the IRS!
The IRS announced today that as part of a larger transformation effort, the IRS will no longer have unannounced visits to taxpayers in most circumstances. For decades, the IRS has sent IRS Revenue Officers, those employees who are charged with collecting unpaid taxes...
IRS Reopening Taxpayer Assistant Centers and Begins Community Assistance Visits
The IRS continues to reopen walk-in offices and add more offices to help people who need to visit Taxpayer Assistance Centers. For those who live in underserved areas, the IRS has opened eight temporary centers for opportunities to meet in person with taxpayers who...
IRS Succeeds in Improving Service, Finding Tax Cheats, and More
The IRS recently issued an update stating it dramatically improved service during the last filing season, noting it achieved an 87% level of service. The IRS was able to answer 3 million more calls and reduced hold times from 28 minutes to three minutes. An...
IRS Issues Alert on New Scam
Taxpayers are warned to beware of a new scheme defrauding taxpayers by sophisticated fraudsters who send a letter to taxpayers in a cardboard envelope containing a letter purporting to be from the IRS notifying the taxpayer of a refund. The letter looks authentic and...
