10 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 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 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 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 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 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 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 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 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 ArticleFailed 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...
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