Category: IRS Tips

IRS Tips
IRS, Free File Alliance announce changes to improve program; Improved taxpayer options available for 2019 Free File program

WASHINGTON — The Internal Revenue Service announced today an agreement with the Free File Alliance that will strengthen and expand taxpayer options for people choosing to use the free online software program during the 2019 filing season. The agreement updates several areas designed to make the Free File program more taxpayer friendly while strengthening consumer […]

IRS Tips
Get Ready for Taxes: Renew expiring ITINs now to file a return next year

WASHINGTON — The Internal Revenue Service reminds taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) to submit their renewal applications as soon as possible. Failing to renew them by the end of this year will cause refund and processing delays in 2019.   This is the second in a series of reminders to help taxpayers get […]

IRS Tips
New IRS publication helps taxpayers Get Ready for tax reform

The IRS issued a new publication to help taxpayers learn about tax reform and how it affects their taxes. Taxpayers can access Publication 5307, Tax Reform Basics for Individuals and Families, on IRS.gov/getready. While last year’s Tax Cuts and Jobs Act includes tax changes for both individuals and businesses, this publication is specifically geared to individual […]

IRS Tips
IRS issues final regulations, expanding paid preparer due diligence requirement to head of household filers

WASHINGTON — The Treasury Department and the Internal Revenue Service today issued final regulations expanding the long-standing paid preparer due diligence requirement to include individual income tax returns claiming the head of household filing status. The final regulations, available in the Federal Register, implement a provision included in the Tax Cuts and Jobs Act (TCJA), […]

IRS Tips
After tax reform, many corporations will pay blended tax rate

Last year’s tax reform legislation replaced the graduated corporate tax structure with a flat 21 percent corporate tax rate. This new maximum tax rate for corporations is effective for tax years beginning after Dec. 31, 2017. A corporation with a fiscal year that includes Jan. 1, 2018, will pay federal income tax using what is […]

IRS Tips
Taxpayers who have an ITIN set to expire should renew it ASAP

Taxpayers with expiring Individual Taxpayer Identification Numbers should submit their renewal applications as soon as possible. Failing to renew them by the end of this year will cause refund and processing delays in 2019. ITINs are used by people who have tax filing requirements under U.S. law but are not eligible for a Social Security […]

IRS Tips
For Tax Year 2017, e-file closes on Nov. 17; After that, disaster victims, others need to file on paper

WASHINGTON —The Internal Revenue Service today reminded people, including those in disaster areas, who want to file a 2017 tax return electronically to do so by Saturday, Nov. 17, 2018. Filing of paper tax returns will remain available after that date. IRS Modernized e-file, the system that processes electronically-filed individual returns, will shut down after […]

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