Failed to pay taxes? If you make more than $100,000, the IRS may pay you a...
There’s a new incentive to file a tax return this year: An Internal Revenue Service agent may be making a house call if you don’t. The IRS is increasing efforts to reach high-income individuals who...
View ArticleTaxes 2020: These two groups of taxpayers face the highest audit rates
Taxes are one of life’s certainties, but getting audited by the IRS is increasingly less certain these days. In fact, an audit is about half as likely as it was five years ago. Even so, some groups...
View ArticleIRS offers tax relief for student loan debt discharges
The Internal Revenue Service and the Treasury Department are offering a safe harbor to provide relief to taxpayers who borrowed money to attend a nonprofit or for-profit school and had their student...
View ArticleTop IRS Challenges For Taxpayers in 2020
From refund delays and aging technology to confusing audit letters, here are the top 10 challenges filers face this year, according to the report: 1. Customer service The IRS received roughly 100...
View ArticleDon’t Be Duped By Clever Scammers
Article Highlights: Scammers disguise e-mails to look legitimate. Legitimate businesses and the IRS never request sensitive personal and financial information by e-mail. Don’t become a victim. Stop –...
View ArticleNew IRS Rule Will Help Lower Drug Costs
Life may get a bit easier for millions of Americans with chronic medical conditions who struggle to pay for their medical care. The IRS recently released formal guidance that allows insurers who...
View ArticleKey Lessons in IRS Response to Not Filing Your Taxes
Some people are late, and some seem to fall off the grid, with many years of failures. But the IRS usually catches up. At that point, taxes, interest and penalties can be crushing, and it can even mean...
View ArticleNational Tax Security Awareness Week Begins
IR-2019-192, December 2, 2019 WASHINGTON — The Internal Revenue Service and the Security Summit partners opened this year’s National Tax Security Awareness Week with a warning for holiday shoppers on...
View ArticleDid You Just Get an IRS Notice of Deficiency? Here’s What to Do Next
Nobody likes getting mail from the IRS — especially when it’s something you weren’t expecting. One minute, you’re minding your own business and aren’t even thinking about that return you filed months...
View Article10 IRS Audit Red Flags for Retirees
You may be wondering about your odds of an IRS audit. Most people can breathe easy. The vast majority of individual returns escape the IRS audit machine. In 2018, the Internal Revenue Service audited...
View ArticleIRS Encourages Taxpayers to be ready for Tax Filing Season
Get Ready for Taxes: Get ready today to file 2019 federal income tax returns The Internal Revenue Service today urged taxpayers to act now to avoid a tax-time surprise and ensure smooth processing of...
View ArticleThe IRS Is Hot on the Trail of Unreported Virtual Currency Transactions
Article Highlights: Coinbase Disclosure IRS Compliance Letters New 1040 Question Reporting under Penalty of Perjury Treated as Property Employee Payments Independent Contractor Income Information...
View Article3 Common Personal Income Tax Problems & How to Respond
Tax problems aren’t just a worry that hang over people’s heads from January through April every year. Many of them go far beyond the numbers that you report, and they can require additional evidence...
View ArticleCrowdfunding Can Have Unexpected Consequences
Gifts Charitable Gifts Business Ventures SEC Registration Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host...
View ArticleTaxpayers Should Beware of Property Lien Scam
With scam artists hard at work all year, taxpayers should watch for new versions of tax-related scams. One such scam involves fake property liens. It threatens taxpayers with a tax bill from a...
View ArticleWhat Is the Statute of Limitations on Unpaid Taxes?
If you have unpaid taxes that you haven’t yet been making payments toward, it might make you fearful that the IRS will come a-knocking one day to collect on what you owe. Tax debt can quickly snowball...
View ArticleMake a Tax-deductible Donation for Hurricane Disaster Relief
With Hurricane Dorian set to make landfall as a devastating storm on the east coast, the Dream Center response team is set to deploy at a moment’s notice. The Dream Center has been responding to...
View ArticleDid you get an email from the IRS? Watch out for this new scam
Don’t be fooled. The IRS will never send you any unsolicited email or email you about the status of your tax refund. Opens a New Window. Officials this month warned taxpayers to watch out for a new...
View ArticleThe IRS Has Cryptocurrency on Its Radar
Article Highlights: IRS Focus About Cryptocurrency Tax Treatment IRS Compliance Program Letters Being Sent If you own cryptocurrency, you need to know that the IRS has owners of cryptocurrency in its...
View ArticleFake IRS Letters Being Sent to Taxpayers
The IRS is cracking down on fake letters being sent out to people across the nation. “Aside from the phone calls, the phishing, now the letters,” said Irma Trevino, who works with the IRS in Harlingen....
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