News

Job Search Expenses Can be Tax Deductible

Taxpayers who are looking for a new job that is in the same line of work may be able to deduct some job-hunting expenses on their federal income tax return, even if they don’t get a new job. Here are some important facts to know about deducting costs related to job searches: Same Occupation. Expenses are …read more

File Form 1040X to Amend a Tax Return

Mistakes happen and tax returns are no exception. Filing an amended tax return corrects information that changes tax calculations. This includes making changes to filing status and dependents, or correcting income credits or deductions. Don’t file an amended return to fix math errors because the IRS will correct those. The IRS offers tips on how …read more

Be Alert To Scammers Who Pose as the IRS

Scammers pretending to be from the IRS continue to target taxpayers. These scams take many different forms. Among the most common are phone calls and fake emails. Thieves use the IRS name, logo or a fake website to try and steal money from taxpayers. Identity theft can also happen with such scams. Taxpayers need to be …read more

How Does The IRS Contact Taxpayers

When the IRS needs to contact a taxpayer, the first contact is normally by letter delivered by the U.S. Postal Service. The IRS doesn’t normally initiate contact with taxpayers by email, nor does it send text messages or contact through social media channels. Depending on the situation, IRS employees may first call or visit with …read more

IRS Offers Email Option For Tax Payment Notifications

The Internal Revenue Service has introduced an email feature that enables taxpayers to get notifications in their personal email accounts about their payments using IRS Direct Pay or the Electronic Federal Tax Payment System. In an email to tax professionals Friday, the IRS said tax clients can now opt into the new system. “Your clients …read more

Summer Newlyweds Should Also Think About Taxes

Spring showers bring summer flowers and weddings typically aren’t far behind. Newlyweds have a lot to think about and taxes might not be on the list. However, there is good reason for a new couple to consider how the nuptials may affect their tax situation. The IRS has some tips to help in the planning: …read more

Taxpayers Should Review Their Withholding; Avoid Having Too Much or Too Little Federal Income Tax Withheld

The Internal Revenue Service today encouraged taxpayers to consider checking their tax withholding, keeping in mind several factors that could affect potential refunds or taxes they may owe in 2018. Reviewing the amount of taxes withheld can help taxpayers avoid having too much or too little federal income tax taken from their paychecks. Having the …read more

Voices Tax Consequence of Domestic and Foreign Child Adoptions

We favor Americans adopting American children from foster care when feasible, but current U.S. tax law benefits domestic and foreign adoptions. The tax law enables adopters to replace American adoptees with foreign adoptees. As a result, Americans children are waiting longer than ever in foster care for their permanent families. Section 23 of the tax …read more

Tips To Know For Deducting Losses From A Disaster

The IRS wants taxpayers to know it stands ready to help in the event of a disaster. If a taxpayer suffers damage to their home or personal property, they may be able to deduct the loss they incur on their federal income tax return. If their area receives a federal disaster designation, they may be able to …read more

IRS Now Accepting Renewal Applications for ITINs Set to Expire by End of 2017

The Internal Revenue Service is now accepting renewal applications for the Individual Taxpayer Identification Numbers (ITINs) set to expire at the end of 2017. The agency urges taxpayers affected by changes to the ITIN program to submit their renewal applications as soon as possible to avoid the rush. In the second year of the renewal …read more