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IRS improves services to taxpayers with digital authorizations and launch of new Tax Pro Account

WASHINGTON — The Internal Revenue Service today launched a new feature that will give taxpayers digital control over who can represent them or....

A tip for teachers: Some educator expenses may be tax deductible

The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from the ....

IRS: Online Child Tax Credit eligibility tool now available in Spanish

WASHINGTON — The Internal Revenue Service has launched a new Spanish-language version of its online tool, ....

IRS provides answers for certain transportation companies eligible for Treasury grants

Wednesday, July 07, 2021

WASHINGTON — The Internal Revenue Service today posted answers to questions that certain transportation companies may have regarding Treasury gra ....

IRS sending letters to more than 36 million families who may qualify for monthly Child Tax Credits; payments start July 15

Friday, July 02, 2021

The Internal Revenue Service has started sending letters to more than 36 million American families who, based on tax returns filed with the agency, ....

IRS online tool helps families see if they qualify for the Child Tax Credit; one of three tools now available for the upcoming advance payments

The Treasury Department and the Internal Revenue Service today urged families to take advantage of a special online tool that can help them determi ....

IRS, Treasury release state-by-state data on third round of Economic Impact Payments

WASHINGTON — The Internal Revenue Service and the Treasury Department released information today detailing how many people in each state received ....

New FAQs available to aid families and small business under the American Rescue Plan

WASHINGTON – The Internal Revenue Service today posted two new, separate sets of frequently-asked-questions (FAQs) to assist families and small a ....

IRS unveils online tool to help low-income families register for monthly Child Tax Credit payments

WASHINGTON — The Treasury Department and the Internal Revenue Service today unveiled an online Non-filer Sign-up tool designed to help eligible f ....

As hurricane season nears, IRS reminds people to prepare for natural disasters

WASHINGTON — The Internal Revenue Service reminds everyone that May includes National Hurricane Prepar ....

Treasury Secretary Janet Yellen says a 'shocking' $7 trillion in taxes is going uncollected

Treasury Secretary Janet Yellen said a “shocking” amount of taxes was going uncollected by the federal government and urged additional  ....

Steer clear of typical tax return errors; May 17 deadline nears

The Internal Revenue Service today reminded taxpayers to check their tax returns for common errors that could delay refunds or otherwise affect nor ....

IRS announces several key executive changes as agency gears up to implement the Taxpayer First Act

The Internal Revenue Service today announced several key leadership appointments as work continues implementing major provisions of the Taxpayer Fi ....

Tax Time Guide: IRS reminds taxpayers of recent changes to retirement plans

WASHINGTON — The Internal Revenue Service today reminded taxpayers about the rules for required minimum distributions (RMDs) from retirement
....

Low Income Taxpayer Clinic 2021 supplemental application period now open

WASHINGTON — The Internal Revenue Service today announced it will accept applications for an 18-month Low Income Taxpayer Clinic (LITC) matching< ....

IRS provides guidance for employers claiming the Employee Retention Credit for 2020, including eligibility rules for PPP borrowers

WASHINGTON — The Internal Revenue Service today issued guidance for employers claiming the employee retention credit under the Coronavirus Aid, R ....

IRS reminds businesses to report large cash transactions; e-file encouraged

WASHINGTON — The Internal Revenue Service today reminds businesses of their responsibility to file ....

IRS reminds farmers and fishers of March 1 tax deadline

WASHINGTON — The Internal Revenue Service is reminding those with income from a farming or fishing business that they can avoid making any estima ....

Victims of Texas winter storms get deadline extensions and other tax relief

Victims of this month’s winter storms in Texas will have until June 15, 2021, to file various individual and business tax returns and make ta ....

Double-check for missing or incorrect Forms W-2, 1099 before filing taxes

WASHINGTON — With some areas seeing mail delays, the Internal Revenue Service reminds taxpayers to double-check to make sure they have all of
....

Beware of "ghost" preparers who don’t sign tax returns

WASHINGTON — The Internal Revenue Service reminds taxpayers to avoid “ghost” tax return preparers whose refusal to sign returns can c ....

Educators can now deduct out-of-pocket expenses for COVID-19 protective items

Eligible educators can deduct unreimbursed expenses for COVID-19 protective items to stop the spread of COVID-19 in the classroom. COVID-19 protect ....

IRS offers guidance to taxpayers on identity theft involving unemployment benefits

WASHINGTON — The Internal Revenue Service today urged taxpayers who receive Forms 1099-G for unemployment benefits they did not actually get
....

Important reminders before filing 2020 tax returns

WASHINGTON — Following an unpredictable year with many changes and challenges, the Internal Revenue Service today shared important reminders
....

New law extends COVID tax credit for employers who keep workers on payroll

WASHINGTON — The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make
....

IRS urges taxpayers to gather tax documents now for smooth filing later

WASHINGTON —The Internal Revenue Service is reminding taxpayers that organizing tax records is an important first step for getting ready to prepa ....

2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic

WASHINGTON ― The Internal Revenue Service announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agen ....

Businesses have Feb. 1 deadline to provide Forms 1099-MISC and 1099-NEC to recipients

WASHINGTON — The Internal Revenue Service today reminded businesses and other payors that the revised ....

All taxpayers now eligible for Identity Protection PINs

WASHINGTON — The IRS today expanded the Identity Protection PIN Opt-In Program to all taxpayers who can verify their identities.

The Ident ....

IRS sends Taxpayer First Act Report to Congress

WASHINGTON — The IRS today sent the Taxpayer First Act Report PDF to Congress, a comprehensive set of recommendations that will reimagine the
....

Eligible Paycheck Protection Program expenses now deductible

WASHINGTON — The Treasury Department and the Internal Revenue Service issued guidance PDF today allowing deductions for the payments of eligible  ....

IRS revises Form 1024-A, application for Section 501(c)(4) tax-exempt status as part of ongoing efforts to improve service

WASHINGTON — As part of ongoing efforts to improve service for the tax-exempt community, the Internal Revenue Service issued the revised Form 102 ....

Treasury, IRS provide relief for those developing renewable energy projects offshore or on federal land

WASHINGTON –The Treasury Department and the Internal Revenue Service today issued guidance PDF providing an extension of the safe harbor for taxp ....

IRS issues standard mileage rates for 2021

WASHINGTON — The Internal Revenue Service today issued the 2021 optional standard mileage rates used to calculate the deductible costs of operati ....

Year-end reminder: Expanded tax benefits help individuals and businesses give to charity during 2020

WASHINGTON – The Internal Revenue Service today explained how expanded tax benefits can help both individuals and businesses give to charity befo ....

Treasury and IRS issue final regulations on the deduction for qualified transportation fringe and commuting expenses

WASHINGTON — The Treasury Department and Internal Revenue Service issued final regulations on the deduction for qualified transportation fringe a ....

IRS has begun sending letters to taxpayers that may need to take action related to Qualified Opportunity Funds

WASHINGTON — The Internal Revenue Service has started sending letters to taxpayers that may need to take additional actions related to Qualified  ....

Get Ready for Taxes: What’s new and what to consider when filing in 2021

WASHINGTON — The Internal Revenue Service today encouraged taxpayers to take necessary actions in the final weeks of the year to help file federa ....

Employers: Remember February 1, 2021 deadline for Form W-2, other wage statements

The Internal Revenue Service today reminded employers that they must file Form W-2 and other wage statements by February 1, 2021, to avoid penaltie ....

Get Ready for Taxes: Steps to take now to make tax filing easier in 2021

WASHINGTON – The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help file federal tax returns timely  ....

IRS announces procurement research partnership to improve contracting processes

WASHINGTON — The Internal Revenue Service’s Office of the Chief Procurement Officer today announced a research partnership with Data and An ....

Security Summit partners announce National Tax Security Awareness Week dates; urge increased security measures as fraudsters exploit COVID-19 concerns

WASHINGTON — The Internal Revenue Service, state tax agencies and the nation’s tax industry today announced that the 5th Annual National Ta ....

IRS Advisory Council issues 2020 Annual Report

WASHINGTON — The Internal Revenue Service Advisory Council (IRSAC) today issued its annual r ....

Get Ready for Taxes: Get ready now to file 2020 federal income tax returns

WASHINGTON – The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help them file their federal tax retu ....

IRS to mask key business transcript details; protect taxpayers from identity theft

WASHINGTON – Moving to protect business taxpayers from identity theft, the Internal Revenue Service today announced that starting Dec. 13 it will ....

IRS provides guidance on certain distributions from terminating 403(b) plans

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued guidance for employers and employees with terminating 4 ....

Security Summit partners warn taxpayers of new COVID-related text scam

WASHINGTON — The Internal Revenue Service, state tax agencies and the tax industry today warned of a new text scam created by thieves that trick  ....

IRS makes it easier to set up payment agreements; offers other relief to taxpayers struggling with tax debts

The Internal Revenue Service today announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle thei ....

IRS: People with foreign accounts reminded of the extension to file 2019 FBAR by Oct. 31, Dec. 31 if impacted by certain natural disasters

WASHINGTON — The Internal Revenue Service reminds U.S. citizens, entities and resident aliens with a foreign bank or financial account that they  ....

IRS provides tax inflation adjustments for tax year 2021

WASHINGTON — The Internal Revenue Service today announced the tax year 2021 annual inflation adjustments for more than 60 tax provisions, includi ....

Income ranges for determining IRA eligibility change for 2021

WASHINGTON — The Internal Revenue Service announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retir ....

IRS adds QR technology to key balance due notices to help taxpayers

WASHINGTON — For the first time, the IRS is adding barcode technology to notices sent to millions of taxpayers. Starting this month, the CP14 and ....

IRS: Check tax withholdings now as the last quarter of 2020 begins

WASHINGTON — The Internal Revenue Service today reminded taxpayers that now is the perfect time to review their tax withholding and payments to a ....

IRS issues final regulations on the deduction for meals and entertainment

WASHINGTON — The Internal Revenue Service issued final regulations on the business expense deduction for meals and entertainment following change ....

IRS provides final regulations on income tax withholding on certain periodic retirement and annuity payments

WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service today issued ....

IRS highlights employer credits for businesses during Small Business Week

WASHINGTON — During Small Business Week, the Internal Revenue Service reminds business owners and self-employed individuals of the employer cred ....

IRS finalizes regulations for 100 percent bonus depreciation

WASHINGTON — The Treasury Department and the Internal Revenue Service today released the last set of ....

IRS reminds taxpayers who filed an extension that the Oct. 15 due date approaches

WASHINGTON – The Internal Revenue Service today reminds taxpayers who filed an extension that the Oct. 15 due date to file 2019 tax returns is ap ....

IRS issues 2020–2021 per-diem rates

Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses (No ....

IRS highlights higher penalties for some tax returns filed after Sept. 14

WASHINGTON — The Internal Revenue Service today urged individuals who owe taxes but have not yet filed for 2019 to act now to avoid larger penalt ....

Third quarter estimated tax payments due Sept. 15

WASHINGTON – The Internal Revenue Service today reminded the self-employed, investors, retirees and others with income not subject to withholding ....

Some taxpayers may need to make estimated tax payments

Some taxpayers earn income not subject to withholding. For small business owners and self-employed people this can mean making quarterly estimated  ....

Federal benefit recipients with children have more time to get the $500 Economic Impact Payment

The IRS has reopened the registration period for individuals who receive Social Security, Supplemental Security Income, Railroad Retirement, or vet ....

Think Tax Filing Season is Over? Why You May Need to File an Amended Return

Few people look forward to tax filing season. Unless you are an accountant who loves tax season, you probably dread this time of year, and you are  ....

Four Things Your Tax Preparer Won't Tell You (and How It Can Get You In Tax Trouble)

Tax time will be here (again) before you know it. If your tax return is a simple one, you may be up to filing the return yourself. But if your situ ....

Tips for taxpayers who need to file a new W-4

All taxpayers should review their withholding annually. They can use the IRS Tax Withholding Estimator to check and make sure they’re not having  ....

Earning side income: Is it a hobby or a business?

Whether it’s something they’ve been doing for years or something they just started to make extra money, taxpayers must report income earned fro ....

IRS: Unemployment compensation is taxable; Have tax withheld now and avoid a tax-time surprise

WASHINGTON – With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Se ....

Important things all extension filers should remember

October 15 is almost here. That’s the last day to file for most people who requested an extension for their 2019 tax return. These taxpayers can  ....

13.9 million Americans to receive IRS tax refund interest; Taxable payments to average $18

WASHINGTON – This week the Treasury Department and the Internal Revenue Service will send interest payments to about 13.9 million individual taxp ....

IRS Provides More Flexibility for Workers Using FSAs

If you have ever worked on a job and used the benefits offered by the job, you are likely aware of the benefit of having an FSA, Flex Spending Arra ....

Paying for College? These Tax Credits Could Help

Our hearts go out to the 2020 graduating college and high school classes. Sadly, COVID-19 has thwarted the traditional graduation walk. Still, in t ....

24/7 Customer Account Access Now Available!

To further streamline our services during this turbulent time, we now offer 24/7 account access for our existing clients. With this new functionali ....

COVID-19 TAX BENEFITS TO HELP EMPLOYERS AND EMPLOYEES

As the COVID-19 relief plan continues to unfold, information was released recently detailing the benefits to employers and employees included in th ....

IRS People First Initiative Brings Relief to Taxpayers

The IRS released information on March 25 announcing sweeping changes to provide temporary relief and assistance to taxpayers ranging from easing pa ....

It's Stimulus Time America!

On the heels of the treasury department ....

Don't Ignore Your Unfiled Taxes

Falling behind on filing your annual tax returns can happen to anyone. Whether due to procrastination or you’re just too busy, bear in mind t ....

Common Problems & Solutions to Know During Tax Season

To be in the Internal Revenue Service’s (IRS) good book, you need to be accurate, detailed, meticulous, tr ....

Does A Partial Government Shutdown Impact My Tax Debt?

Since the beginning of 2019, the impact of the partial government shutdown on taxes and tax season has been the question of the day. While the tota ....

The Dreaded Audit: Separate the Facts from the Fictions

Most people are terrified of getting audited by the IRS. The popular notion is that something is fraudulent on your return if you get audited. Howe ....

mycfgo changes the game for entrepeneurs: tax planning, structuring, advisory

If there’s one thing we know in the tax relief business, it’s that entrepreneurs are the most likely individuals to get into tax troubles. Most ....

Alliance Tax Solutions can help you lower your tax debt

DO YOU HAVE IRS TAX DEBT? WE CAN HELP!

If you have IRS tax debt, you’re not alone. Millions of Americans share the same problem ....

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Advocates of Love is the only children’s home to help orphan and vulnerable children in the Samana Province, Dominican Republic. Founded by Mike Clark in 2013, this charity has provided care and eduction for children in one of the most povery stricken areas.

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