News & Helpful Information
Taxpayers Shouldn’t Let Gift Card Scammers Ruin the Holidays
During the holiday season, taxpayers should be aware of gift card scams thieves commonly use this time of year. Con artists will target taxpayers by asking them to pay a fake tax bill with gift cards.
These Security Guidelines Can Help Keep Personal Info Safe Online
Taking online security seriously can help people keep their information safe and out of the hands of identity thieves and scammers. It only takes a few simple steps to avoidcommon security pitfalls. By following these tips, consumers and taxpayers can reduce the risk of losing their identity, money or accounts to criminals.
Taxpayers Should Review the 401(k) and IRA Limit Increases For 2023
The amount individuals can contribute to their 401(k) plans in 2023 will increase to $22,500 — up from $20,500 for 2022.
An Overview of the Taxpayer Bill of Rights
By law, all taxpayers have fundamental rights when they’re interacting with the IRS. It’s important that all taxpayers know and understand their rights.
Everyone Should Know the Facts About How the IRS Communicates With Taxpayers
Knowledge is a taxpayer’s first line of defense against scammers who pretend to be from the IRS with the goal of stealing personal information.
Seniors Can Reduce Their Tax Burden By Donating To Charity Through Their IRA
In most cases, distributions from a traditional Individual Retirement Account are taxable in the year the account owner receives them but there are some exceptions. A qualified charitable distribution is one of the few exceptions.
Employers: Beware of Third Parties Promoting Improper Employee Retention Credit Claims
Employers should be wary of third parties advising them to claim the employee retention credit when they may not qualify. Some third parties are taking improper positions related to taxpayer eligibility for and computation of the credit.
Under the Taxpayer Bill of Rights, all taxpayers have the right to finality of IRS matters
By law, taxpayers interacting with the IRS have the right to finality. This right comes into play for taxpayers who are going through an audit. These taxpayers have the right to know when the IRS has finished the audit.
Taxpayers With An Outstanding Tax Bill Should Consider An Offer In Compromise
An Offer in Compromise can be an effective way individuals and businesses to settle federal tax debt. This federal program allows taxpayers to enter into an agreement, with the IRS, that settles a tax debt for less than the full amount owed. Sometimes taxpayers are able to settle for significantly less, especially if they have low income and few assets.
File 2019 and 2020 Returns By Sept. 30 To Get COVID Penalty Relief
The Internal Revenue Service today reminded struggling individuals and businesses, affected by the COVID-19 pandemic, that they may qualify for late-filing penalty relief if they file their 2019 and 2020 returns by Sept. 30, 2022.