As the April tax deadline approaches, the IRS reminds members of the U. S. Armed Forces of special tax breaks, helpful resources
The Internal Revenue Service today encouraged members of the military and their families to learn more about the special tax benefits available to them as the April 15 tax filing season deadline approaches. Most military bases offer free tax preparation and filing assistance during the tax filing season. Some also offer free tax help after […]
Here’s a quick overview of tax reform changes and where taxpayers can find more info
Major tax law changes affect every taxpayer filing a 2018 tax return this year. To help taxpayers understand these changes, the IRS created several resources that are available on IRS.gov. Here’s a quick overview of key changes with a link to more information on IRS.gov: Tax rates lowered. Starting in 2018, tax rates are lower […]
IRS concludes ‘Dirty Dozen’ list of tax scams for 2019 Agency encourages taxpayers to remain vigilant year-round
The Internal Revenue Service today wrapped up issuing its annual “Dirty Dozen” list of tax scams. The IRS reminds taxpayers to remain vigilant to these often aggressive and evolving schemes throughout the year. This year’s “Dirty Dozen” list highlights a wide variety of schemes that taxpayers may encounter at any time, although many may peak […]
IRS has resources to help military personnel and veterans understand taxes
The IRS provides Tax Information for Members of the Military to help them meet their unique tax obligations. Here are some topics that affect current and former military personnel, along with resources where they can go to find more information. Military status A taxpayer’s military status affects their eligibility for certain benefits. Check out these […]
Contribute to an IRA by April 15 to claim it on 2018 tax returns
The Internal Revenue Service reminded taxpayers today that it’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, […]
Frivolous tax arguments remain on IRS’ ‘Dirty Dozen’ scams list for 2019
The Internal Revenue Service today issued a warning to taxpayers against using frivolous tax arguments to avoid paying taxes. This scheme involving outlandish legal claims is on the agency’s top 12 list of tax scams. Promoters of frivolous schemes encourage taxpayers to make unreasonable and outlandish legal claims to avoid paying their taxes. The […]
IRS warns of new phone scam using Taxpayer Advocate Service numbers
The Internal Revenue Service today warned the public about a new twist on the IRS impersonation phone scam whereby criminals fake calls from the Taxpayer Advocate Service (TAS), an independent organization within the IRS. Similar to other IRS impersonation scams, thieves make unsolicited phone calls to their intended victims fraudulently claiming to be from the […]
Failure to report offshore funds remains a crime; IRS includes topic on its 2019 ‘Dirty Dozen’ scams list
Hiding money or assets in unreported offshore accounts remains on the Internal Revenue Service’s “Dirty Dozen” list of tax scams for 2019, the agency said today. Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime, including offshore schemes. Many of these peak during filing season as people prepare […]
Avoid improper claims for business credits; topic makes this year’s IRS ‘Dirty Dozen’ list
The Internal Revenue Service today warned taxpayers to avoid improperly claiming various business tax credits, a common scam used by unscrupulous tax preparers. Two credits often targeted for abuse by shady tax return preparers are the Research Credit and the Fuel Tax Credit. Each of these credits has specific eligibility criteria. Each year, the IRS […]
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 […]