by bettywilliams | Jul 6, 2020 | IRS
The IRS has released guidance on how to select a tax professional and reminders regarding a taxpayer’s obligations to review the tax return before signing and submitting the return to the IRS. Read more here.
by bettywilliams | Jul 2, 2020 | IRS
If you have not filed a 2016 income tax return and may be due a refund from the IRS, time is nearly out to claim your refund. The IRS estimates 1.4 million people may fall into the category of those who are due a refund. File now!
by bettywilliams | Jul 1, 2020 | IRS
The IRS Taxpayer Advocate has issued their Report to Congress with FY 2021 priorities that deserve the closest scrutiny and congressional oversight being improving taxpayers’ experience with the IRS, protecting the rights of taxpayers impacted by COVID-19, reducing...
by bettywilliams | Jun 17, 2020 | IRS
A federal appellate court upheld an order enforcing an IRS summons sent to the Taylor Lohmeyer Law Firm, PLLC. The firm was required to provide information regarding foreign bank accounts and entities it assisted clients in forming. The government argued that by...
by bettywilliams | Jun 16, 2020 | IRS
The IRS provides information on financial schemes and COVID-19 fraud. For more information, see the full news release.
by bettywilliams | Jun 16, 2020 | IRS
The IRS will soon allow taxpayers to file amended Forms 1040-X online for tax years 2019 forward. For more information, see the full news release here.
by bettywilliams | May 14, 2020 | IRS
The IRS issued a Statement of Work this week regarding a pilot program to have outside auditors review certain virtual currency tax returns. This program is the latest effort by the IRS to more closely oversee cryptocurrency transactions. In 2019, the IRS sent out...
by bettywilliams | Apr 10, 2020 | IRS
The IRS has a new online tool for people who do not typically file tax returns, to ensure they receive their Economic Impact Payment from the IRS. For more details, read the IRS’ announcement here.
by bettywilliams | Apr 7, 2020 | IRS
The IRS will never call a taxpayer and ask for financial information. If you receive a call, letter, or e-mail from someone requesting financial information related to the $1,200 economic impact payment, assume it is a scam. For more scams and alerts, see this IRS...
by bettywilliams | Feb 27, 2020 | IRS
Change is inevitable but when it is beneficial to taxpayers, it is also good news. The IRS has extended certain tax provisions for individuals, including the above-the-line qualified tuition and related expenses deduction, mortgage insurance premiums treated as...
