News

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

IRS Warns of New Phone Scam Involving Bogus Certified Letters; Reminds People To Remain Vigilant Against Scams, Schemes This Summer

The Internal Revenue Service today warned people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate tax payment through a prepaid debit card. This scam is being reported across the country, so taxpayers should be alert to the details. In the latest …read more

Interest Rates Remain The Same For The Third Quarter of 2017

  The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2017.  The rates will be: four (4) percent for overpayments (three (3) percent in the case of a corporation); 1 and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000; four …read more

Keys to Unlocking the Home-Office Deduction

The IRS recently reminded small business owners – especially individuals who are self-employed – that there are two methods of deducting home-office expenses. A lesser-known “simplified” method can provide a flat-dollar write-off without the usual recordkeeping hassles. But what the IRS didn’t say is this: Many taxpayers will be in line for a bigger deduction if …read more

IRS Face-To-Face Help Is Now By appointment

Taxpayers who need in-person help from an IRS Taxpayer Assistance Center (TAC) need to call to schedule an appointment. All TACs provide service by appointment. They are an essential service the IRS provides when a tax issue cannot be resolved online or by phone. Consider the self-service options on IRS.gov before calling for an appointment. …read more