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IRS Estimates Nearly $500 Billion Tax Gap

For the years 2014 through 2016 alone, the IRS estimates $496 billion in taxes due to the IRS went unreported, or unpaid.  This amount is about 85% of the amount of taxes paid voluntarily and on time.  Imagine if all taxes were reported and paid. This astonishing...

Thousands of Reps Hired for IRS Customer Service Line

4,000 new customer service representatives have been hired by the IRS to assist with the 2023 tax filing season. These new representatives are being trained to answer questions, to provide technical account management, and to understand taxpayer rights. IRS...

Time to File Your 2021 FBAR

This Saturday, October 15th, marks the extended deadline to file your annual Report of Foreign Bank and Financial Accounts (FBAR)! If you have a financial interest or authority over any financial account located outside of the United States, and at any time during...

IRS Awards $41 Million in Grants

Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) programs received a total of $41 million in grants from the IRS this year. Nearly all (348 out of 413 total) grant TCE and VITA applicants received awards! TCE programs provide free tax...

IRS Warns of Texting Scams

The IRS has reported that in the last few weeks there has been a huge increase in texting scams (also known as “smishing”). These text messages appear to come from the IRS, and promise COVID-19 relief and other tax credits. The text messages lure unsuspecting...

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