Tax Time Guide: Most people affected by major tax reform changes; Special publication, other online resources can help
WASHINGTON –– With major tax law changes impacting every taxpayer, the Internal Revenue Service has developed a special electronic publication and other online resources designed to help people understand how tax reform affects them this year and the years ahead. This news release is part of a series called the Tax Time Guide, a resource […]
Here are five facts about the new Form 1040
There are several changes to the 2018 Form 1040. However, taxpayers who file electronically may not notice the changes as the tax return preparation software guides people through the filing process. The IRS worked closely with its partners in the tax return preparation and tax software industries to prepare for tax reform and tax form […]
IRS urges businesses to e-file cash transaction reports; It’s fast, easy and free
WASHINGTON — The Internal Revenue Service today urged businesses required to file reports of large cash transactions to take advantage of the speed and convenience of filing these reports electronically. Although businesses have the option of filing Form 8300, Report of Cash Payments Over $10,000, on paper, many have already found that e-filing is a […]
Here’s what taxpayers should do to protect private data
Taxpayers should protect their personal and financial data from criminals who continue to steal large amounts of information. Thieves use the data to file bogus tax returns and commit crimes while impersonating the victim. All taxpayers should follow these steps to protect themselves and their data. Keep a secure computer. Taxpayers should: Use security software […]
Farmers, fishermen face March 1 tax deadline; IRS encourages convenience of IRS Direct Pay
WASHINGTON — The Internal Revenue Service reminds farmers and fishermen who chose to forgo making quarterly estimated tax payments that they must file their 2018 Form 1040 along with a payment for all taxes owed by Friday, March 1, 2019. This special rule normally applies to taxpayers whose farming or fishing income was at least […]
EITC provides tax break for low to moderate income taxpayers
The earned income tax credit benefits low to moderate income people and families. The credit can lower the tax someone owes or mean a refund for the taxpayer. Taxpayers can do these things to determine if they qualify for the EITC and make claiming it easier: Review their eligibility Taxpayers must have earned income of […]
Today marks busiest phone day of the year; check IRS.gov for answers to tax questions
WASHINGTON — The Internal Revenue Service alerted taxpayers that today, the day after Presidents Day, marks the busiest period for calls to its toll-free help line. The IRS reminded taxpayers that most answers to their tax questions can be quickly found on IRS.gov. Taxpayers who call the IRS the day after Presidents Day can expect […]
Avoid the rush: Get a tax transcript online
WASHINGTON — The Internal Revenue Service today reminded taxpayers who need their prior-year tax records to either complete their 2018 tax return or to validate their income can use Get Transcript Online or Get Transcript by Mail. Taxpayers often call or visit the IRS seeking their prior-year tax transcript, which is a record of their […]
Presidents Day brings a surge of activity – avoid the rush
Every year, the IRS expects a surge of taxpayers to submit their tax returns during the Presidents Day weekend. It’s a good time to file as there are just about two months left until the April 15 deadline. Filing before Presidents Day means people can have peace of mind after completing their tax time requirements. […]