Phony IRS calls increase during filing season
The tax filing season is a busy time for taxpayers, but scammers also stay busy. Taxpayers should be aware of several types of tax scams, but phone scams start to increase during the beginning of tax season and then remain active throughout the remainder of the year. Here’s how this scam generally works: Scammers impersonating […]
Tax Time Guide: Protect personal, financial and tax information
The Internal Revenue Service today urged taxpayers to protect the security of their personal, financial and tax information. Con artists use scams and schemes to steal personal information and money from unsuspecting victims, particularly during tax time. This news release is part of a series called the Tax Time Guide, a resource to help taxpayers […]
IRS’ 2019 ‘Dirty Dozen’ tax scams list highlights inflating deductions, credits
The Internal Revenue Service today warned taxpayers to avoid falsely inflating deductions or credits on tax returns as part of its 2019 list of the “Dirty Dozen” tax scams. Taxpayers should watch for areas frequently targeted by unscrupulous tax preparers include overstating deductions such as charitable contributions, medical expenses, padding business expenses or falsely claiming […]
Filing season tips for employers and employees
Read and be aware of the IRS-identified Dirty Dozen tax schemes Identity theft remains at the top of the IRS’s Dirty Dozen tax scheme list for 2019. Despite a steep drop in tax-related ID theft in recent years, the IRS last week warned taxpayers that the scam remains serious enough to earn a spot on […]
IRS urges taxpayers to check their tax withholding early in 2019; Paycheck Checkup can avoid problems next year
The Internal Revenue Service today renewed its effort to encourage taxpayers to review their tax withholding using the IRS Withholding Calculator and make any needed adjustments early in 2019. Doing a Paycheck Checkup can help taxpayers avoid having too little or too much tax withheld from their paychecks. The IRS reminds taxpayers that they can […]
Schemes involving falsifying income, creating bogus documents make IRS’ ‘Dirty Dozen’ list for 2019
The Internal Revenue Service today warned taxpayers to avoid schemes involving falsifying income, including the creation of bogus Forms 1099. Con artists commonly use this trick as well as related scams designed to get taxpayers to erroneously claim tax credits they aren’t entitled to. The warning about falsified income came as part of the agency’s […]
Tax reform changes to fringe benefit deductions affect business’s bottom line
The Tax Cuts and Jobs Act includes tax law changes that affect businesses and the 2018 tax returns they file this year. One change is to fringe benefit deductions, which can affect both a business’s bottom line and its employees’ deductions. Here is a rundown of these changes: Transportation fringe benefits The new law disallows […]
IRS publication helps small businesses, self-employed understand what’s new for taxes
The Internal Revenue Service wants business owners and the self-employed to know that a publication on IRS.gov has information they can use to learn which recent tax-law changes impact their bottom line. This news release is part of a series called the Tax Time Guide, a resource to help taxpayers file an accurate tax return. […]
Be on the lookout for promises of inflated tax refunds
The Internal Revenue Service warned taxpayers today to be alert to unscrupulous tax return preparers boasting of inflated tax refunds, a common scam tactic during filing season. Return preparers promising larger refunds than competitors or providing refunds substantially larger than taxpayers have routinely seen could be a warning sign. The IRS has included this scheme […]
Taxpayers must report health care coverage on 2018 tax return
As taxpayers are completing their 2018 tax returns this year, they must complete the lines related to health care. For tax year 2018, the IRS will not consider a return complete and accurate if individuals do not do one of the following on their return: Report full-year health coverage Claim a coverage exemption Report and […]