IRS

The Internal Revenue Service announced an increase to interest rates for the calendar quarter beginning April 1, 2016. The new interest rates will be:4% for overpayments (3% for corporations up to $10,000 and 1.5% for overpayments exceeding $10,000);4% for...

This year's tax season is seeing unprecedented numbers of tax scams and new tactics scammers use to steal your identity. A new consumer alert issued March 14, 2016 by the Internal Revenue Service characterizes recent telephone scams as "aggressive and threatening."...

The Internal Reveue Service (IRS) has temporarily suspended its online Identity Protection PIN tool in order to conduct a review of the security features of the application. The IP PIN is a six-digit number taxpayers can use as "an additional layer of protection"...

The new healthcare law has led to the introduction of a new series of Health Care Information Forms that many individuals will receive this tax season. The 1095-A, 1095-B, and 1095-C are designed to provide information you may need when filing your individual income...

On March 10, 2016, the Internal Revenue Service ("IRS") announced that it has $950 million unpaid tax refunds due to an estimated one million tax payers who did not file their federal income tax return for 2012. The IRS estimates the midpoint value of a potential...

Taxpayers in the United States with valid Social Security numbers may be eligible for a federal Earned Income Tax Credit if they meet certain criteria. The Internal Revenue Service has created an online "EITC Assistant" to help you determine if you are one...

The Internal Revenue Service has published an article to help you determine whether foreign taxes you pay qualify for the Foreign Tax Credit.  They list four criteria for you to evaluate the taxes you paid outside the United States. In brief, they are: The tax...

Taxpayers have been receiving letters with incorrect Identity Protection PIN numbers from the IRS. Notices are listing an incorrect filing year, the agency reported, which has created confusion for many taxpayers and tax professionals. According to a statement updated...

Paying U.S. taxes while overseas doesn't have to be difficult with this year's improved IRS.gov help guides. In addition to the standard International Taxpayer page, U.S. citizens and other international taxpayers living outside the U.S. can now watch videos to learn...

The Internal Revenue Service announced last week that tax season will begin on Tuesday, January 19, 2016. That is the day the IRS will begin accepting individual electronic returns and processing paper returns. The last day to file 2015 tax returns is Monday, April...