Although the federal and state tax agencies may have been generous with late filing and payment due to COVID-19, it is important that taxpayers pay attention to proper withholding throughout the year to avoid a large tax bill at the end of the year, and possible...
Experience. Dedication. Results.
Photo of Professionals at Law Office of Williams & Associates, P.C.
IRS
Choose Wisely when Hiring a Tax Professional
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.
$1.5 Billion in Tax Refunds Set to Expire!
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!
IRS Taxpayer Advocate’s Report to Congress Focuses on Taxpayers
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...
Legal Clients with Offshore Accounts, Beware! The IRS can Summons Information from your Lawyer!
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...
Don’t Get Scammed!
The IRS provides information on financial schemes and COVID-19 fraud. For more information, see the full news release.
Need to File an Amended Tax Return? The IRS now has Online Filing
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.
IRS Seeks Contractors to Audit Crypto Tax Returns
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...
Good News for Non-Filers to get IRS Check
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.
Beware of Scammers
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...
