Category: IRS Tips

IRS Tips
Taxpayers can monitor their IRS information online

Taxpayers can access their federal tax information through a secure login at IRS.gov/account. After logging in, the user can view: The amount they owe Their payment history Tax records Key information from their most recent tax return as originally filed A taxpayer can monitor their personal tax account by keeping track of payments and taxes […]

IRS Tips
Tax Security 101 – Tax professionals victimized by data thefts offer hard-won security lessons to colleagues

WASHINGTON – As cybercriminals continue to increasingly pursue tax professionals’ data, the Internal Revenue Service and the Security Summit partners today released lessons learned by victims in the tax community to help others avoid being targeted by identity thieves. In recent years, hundreds of tax professionals experienced data thefts or breaches that exposed their clients’ […]

IRS Tips
Your Taxes in the Sharing Econom

Here is a video tax tip from the IRS: Your Taxes in the Sharing Economy English | ASL Subscribe today: The IRS YouTube channels provide short, informative videos on various tax related topics in English, Spanish and ASL. www.youtube.com/irsvideos www.youtube.com/irsvideosmultilingua www.youtube.com/irsvideosASL

IRS Tips
IRS issues proposed regulations on new 20 percent deduction for passthrough businesses

WASHINGTON — The Internal Revenue Service issued proposed regulations today for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. The new deduction — referred to as the Section 199A deduction or the deduction for qualified business income — was created […]

IRS Tips
Tips for extension filers

The IRS reminds taxpayers who requested an extra six months to file their 2017 tax return that Monday, October 15, 2018, is the extension deadline for most taxpayers. For taxpayers who have not yet filed, here are a few tips to keep in mind about the extension deadline and taxes: Taxpayers can still e-file returns […]

IRS Tips
Taxpayers now have more time to challenge a levy

The IRS reminds individuals and businesses that they have additional time to file an administrative claim or bring a civil action for wrongful levy or seizure. Tax reform legislation enacted in December extended the time limit from nine months to two years. Here are some facts about levies and the extension of time to file […]

IRS Tips
Tax Security 101: tax preparers should take these steps to protect data

The IRS and its Security Summit partners launched a summertime campaign to remind tax professionals about the importance of data security. This effort is called “Protect Your Clients; Protect Yourself: Tax Security 101.” The IRS released a new, expanded guide with critical steps that tax preparers can take to protect client data. This campaign is […]

IRS Tips
IRS offers guidance on recent 529 education savings plan changes

WASHINGTON — The Internal Revenue Service and Department of the Treasury today announced their intent to issue regulations on three recent tax law changes affecting popular 529 education savings plans. Notice 2018-58, addresses a change included in the 2015 Protecting Americans From Tax Hikes (PATH) Act, and two changes included in the 2017 Tax Cuts […]

IRS Tips
Tax Security 101: Security Summit reminds tax professionals to beware of spear phishing emails

WASHINGTON – The IRS and its Security Summit partners today reminded tax professionals that being targeted by spear phishing emails remains the most common way data thieves enter practitioner’s digital networks and steal client information. Tax professionals who fall victim to spear phishing tactics voluntarily disclose sensitive password information or voluntarily download malicious software, enabling […]

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