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The IRS Issues “Last-Minute Tips” for 11th Hour Filers



We’re mere days away from the filing deadline, so it makes sense that the IRS would release a set tips to help avoid any last-minute bumps in the road. Yesterday they provided a list of seven things that taxpayers can do to have a smooth tax season. [Read more…]

IRS Announces Tax Design Challenge



Crowd-Sourcing Effort Aims to Improve Service for Taxpayers

The IRS recently announced that they are teaming with the Mortgage Bankers Association (MBA) to start the Tax Design Challenge, a new three-week crowdsourcing competition that is open to taxpayers across the country. The IRS hopes this program will help find ways to improve the online experience for taxpayers. [Read more…]

Fighting Identity Theft During Tax Season



Tax-based identity theft is bad, and it’s getting worse.

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IRS Releases Q2 Interest Rates



Rates Going Up This April, May, and June

Last week, the IRS released the corrected Q2 interest rates, indicating the first such increase since Q4 2010. An official revenue ruling, dated April 4, 2016, will be posted in the Internal Revenue Bulletin to outline these rates: [Read more…]

Deadline: Calendar-Year Corporation, C Corporation, and S Corporation



Last Year that C and S Corporation Deadlines will Fall on the Same Day

Tomorrow at midnight is the last moment to meet the filing and extension-request deadline for calendar-year corporation, C corporation, and S corporation tax returns. The AICPA and state CPA organizations are celebrating the fact that 2015 is the last taxable year wherein the C corporation deadline will fall on the same day as the S corporation deadline. [Read more…]

IRS Suspends Online IP PIN Tool



Taxpayers Now Need to Call the IRS to Retrieve Lost or Forgotten IP PINs

The IRS announced yesterday that they would be temporarily suspending the IRS.gov Identity Protection PIN tool while they work to improve security for the application. Stressing that only five percent of the 2.7 million IP PIN holders have used the tool to retrieve a PIN, the IRS indicated that there was minimal risk to the program as a whole resulting from prior use of the online PIN-retrieval tool. [Read more…]

March 1 is the Deadline for Farmers, Fishermen



Tomorrow is the tax deadline for farmers and fishermen, and the IRS advertised their Direct Pay tool as a way that taxpayers can quickly pay their owed taxes.  [Read more…]

Public Forum to Address the Need for Taxpayer Services



Tuesday’s Forum Intended to be First in a Series

While delivering the 2015 Annual Report to Congress in January, National Taxpayer Advocate Nina E. Olson announced that she would hold a series of public hearings to determine the need for specific taxpayer services.  [Read more…]

IRS Reports 400% Increase in Phishing Attempts This Year



January Incidents Jump from 254 in 2015 to 1,026 in 2016

IRS Commissioner Koskinen warned tax professionals and taxpayers alike about a significant surge in online tax-related fraud, noting that the number of phishing scams has already surpassed the total number of reported incidents for all of 2014. [Read more…]

ACA Update: How it Will Affect Tax Professionals



Signed into law on March 23, 2010, the Patient Protection and Affordable Care Act (also known as the Affordable Care Act, ACA, or ObamaCare) has been in effect for long enough for most of the issues to be resolved and enacting regulations to be in place.  In terms of its impact on tax law, however, that’s not the case.

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