More than 2 million Individual Taxpayer Identification Numbers (ITINs) are due to expire by the end of this year, and the Internal Revenue Service is urging taxpayers to apply for renewal.
A review by the Taxpayer Advocacy Service has found that private debt collection agencies working on the IRS’ behalf may be forcing many taxpayers...
Trade groups are asking Congress to make some tweaks to last year’s Tax Cuts and Jobs Act that provided tax cuts to individuals and businesses. The legislation was drafted in secret and pushed through the legislative process in a hurry. Now errors are coming to light that need attention.
The tax legislation pushed through Congress at the end of 2017 wiped out some deductions for individuals and changed some others, particularly those relating to moving, mileage and travel.
The latest phishing attack aimed at income tax professionals is proof positive that tax offices can’t let their guard down just because tax season is over. This new assault mimics or “spoofs” an email from a legitimate state taxing agency or a tax professional organization.
Tax professionals are being warned to be on the lookout for a new round of phishing emails aimed at stealing their email usernames and passwords. The Internal Revenue Service says the new wave of scam emails pose as being from state accounting or professional associations.
The IRS says it will be issuing regulations in the near future aimed at clarifying just how state and local tax payments can be deducted for federal income tax purposes. The issue goes back to late 2017, when Congress passed the tax cut bill known as the “Tax Cuts and Jobs Act.”
Scam artists have dusted off an old scheme and added a new kink in an effort to swindle taxpayers out of money. This new effort uses a faked version of the IRS Form W-8BEN to get detailed personal identification and bank account information from its victims.
We’ve barely left the filing season for TY2017 behind and scammers are already showing they don’t have any deadlines. A new wave of phone scams, more devious than past attempts, has been unleashed.
With the TY2017 tax season coming down to the final hours, the acting IRS commissioner feels pretty good about his agency’s performance thus far. But the big crunch, he says, comes after tax deadline has come and gone.