Dirty Dozen: High-income filers vulnerable to illegal tax schemes; face risk from improper art donation deductions, Charitable Remainder Annuity Trusts, monetized installment sales
As part of the Dirty Dozen campaign, the Internal Revenue Service warned wealthy individuals about three tax traps designed for them by dishonest promoters and shady tax practitioners.
Tax credits for individuals: What they are and how they can benefit taxpayers
A tax credit is an amount taxpayers claim on their tax return generally to reduce their income tax. Eligible taxpayers can use them to potentially reduce their tax bill and increase their refund.
Dirty Dozen: Taking tax advice on social media can be bad news for taxpayers; inaccurate or misleading tax information circulating
The IRS warns about bad tax information on social media that can lure honest taxpayers with bad advice, potentially leading to identity theft and tax problems.
Newsletter from Service Center in Salem and Gloucester Counties
Pertinent local information from the Woodstown USDA Service Center
IRS Kicks Off Annual Dirty Dozen With Warning About Phishing And Smishing Scams
A warning for taxpayers to be aware of evolving phishing and smishing scams designed to steal sensitive taxpayer information.
Dirty Dozen: Beware Of Aggressive Promoters Who Dupe Taxpayers Into Making Questionable Employee Retention Credit Claims; Risks Continue For Small Businesses, Special Withdrawal Program Remains Available
Stay clear of unscrupulous and aggressive promoters of questionable claims for the Employee Retention Credit (ERC).
Dirty Dozen: IRS Warns Taxpayers To Stay Away From ‘Helpful’ Scammers Offering To Set Up An Online Account
he Internal Revenue Service today continues its Dirty Dozen scam series warning taxpayers to watch out for scammers attempting to sell or offer help setting up an Online Account on IRS.gov.
What Employees Need To Know About Income Tax Withholding
Whether someone is entering the workforce for the first time or changing jobs, filling out new hire paperwork can feel overwhelming.
Irs Employee Retention Credit Compliance Effort Tops $1 Billion Threshold Since Fall;
Voluntary Disclosure Program Suspended After March 22, Special Withdrawal Program Remains Open As Audits, Investigations Intensify.
Seven Warning Signs Of Incorrect Employee Retention Credit Claims For Businesses To Review As Key March 22 Deadline Approaches
To counter promoters that marketed misleading information about the Employee Retention Credit (ERC), the Internal Revenue Service urged businesses to review seven suspicious signs of a bad claim and see if the agency’s special programs can help them avoid future compliance issues.