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Category: IRS Tips

IRS Tips
IRS Special Edition Tax Tip 2017-07

IRS Explains How Offer in Compromise Works Taxpayers who have a tax debt they cannot pay may have heard that they can settle their tax debt for less than the full amount owed. It’s called an Offer in Compromise. Before applying for an Offer in Compromise, here are some things to know: In general, the […]

IRS Tips
Issue Number: IRS Special Edition Tax Tip 2017-07

Taxpayers who have a tax debt they cannot pay may have heard that they can settle their tax debt for less than the full amount owed. It’s called an Offer in Compromise. Before applying for an Offer in Compromise, here are some things to know: In general, the IRS cannot accept a settlement offer if […]

IRS Tips
IRS Sees Millions of Tax Returns Last Days of Tax Filing Season

WASHINGTON — The Internal Revenue Service today announced that the agency has received 135.6 million returns this year following a late surge of filings last week. During the week ending April 21, the IRS received more than 17 million tax returns. The vast majority, 13.6 million returns, were filed through IRS e-file.  Looking at the […]

IRS Tips
IRS Issues Tips on What to do After the Tax-Filing Deadline

WASHINGTON — Tax day has come and gone for most people, but some taxpayers may still be dealing with their taxes. The IRS offers these tips for handling some typical after-tax-day issues: Didn’t File by April 18? There is no penalty for filing a late return after the tax deadline if the taxpayer receives a […]

IRS Tips
Important Facts about Filing Late and Paying Penalties

April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If taxpayers are due a refund, there is no penalty if they file a late tax return. Taxpayers who owe tax, and failed to file and pay on time, will most likely owe interest […]

IRS Tips
IRS Seeks Applications for Information Reporting Program Advisory Committee

WASHINGTON – The Internal Revenue Service is requesting membership nominations for the Information Reporting Program Advisory Committee (IRPAC), a federal advisory committee that provides recommendations to the IRS on various tax administration issues. Members are appointed to three-year terms, but terms are staggered so that approximately one-third of the committee membership changes each year. Nominations […]

IRS Tips
Helpful Tips to Keep in Mind When Amending Your Tax Return

Taxpayers can fix mistakes or omissions on their tax return by filing an amended tax return. Those who need to amend will find the following tips helpful. File using paper form. Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct the tax return. Taxpayers can’t file amended returns electronically. They can obtain the […]

What to Do When an IRS Letter Arrives in the Mail

The IRS mails millions of pieces of correspondence every year to taxpayers for a variety of reasons. Below are some suggestions on how to best handle a letter or notice from the IRS: Do not panic. Simply responding will take care of most IRS letters and notices. Most IRS notices are about federal tax returns […]

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