IRS Online Account is a Handy Tool, Agency Says
Live long enough, and we all come to realize there are still a few universal truths.…
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What Taxpayers Need to Know About Higher Education Credits
Let’s face it: higher education is expensive, whether it’s community college, a trade school, a four-year university or an advanced degree. That’s where higher education tax credits come in.…
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IRS Explains Educator Expense Deduction
The Internal Revenue Service has long allowed educators to deduct part of the cost of supplies and other expenses from their taxes. The total deduction allowed may not sound like much, but educators all over the U.S. have come to depend on this tax break for a little relief.…
Security Summit Opens Campaign with Multi-Factor Authentication
The Security Summit opened the 2021 “Protect Your Clients; Protect Yourself” campaign by highlighting the benefits of multi-factor authentication. Since its creation in 2015, the Summit—a group consisting of the Internal Revenue Service, state departments of revenue, and private members of the tax industry—has worked to combat the threat of tax-related identity theft scams.…
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New Tax Pro Account, Other Services Launch on IRS.gov
The Internal Revenue Service is continuing to move individual income tax features into the digital age. The agency’s latest move gives taxpayers digital control over who can represent them or view their tax records.…
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Multiemployer Retirement Plans Get IRS Guidance for PBGC Assistance
New guidance from the Internal Revenue Service attempts to shine a little light on multiemployer qualified retirement plans that got financial help from the Pension Benefit Guaranty Corporation (PBGC), while explaining what that assistance means for participants and beneficiaries.…
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Taxpayers Now Receiving the Advance Child Tax Credit Payments
After a dismal winter made darker by the COVID-19 pandemic, millions of American families are getting a little sunnier disposition thanks to advance payments of the Child Tax Credit.…
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Security Summit Announces 2021 Awareness Campaign
The IRS is reporting a rise in successful scams targeting tax professionals. This news comes on the heels of a second filing season defined by the pandemic: Preparers and taxpayers again relied on digital communication and file exchange, and legislators passed legislation providing advance payments to qualifying Americans.…
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ETAAC Report Recommends Better IRS Funding, Improving the "Taxpayer Experience"
Every year, the Electronic Tax Administration Advisory Committee (ETAAC) sends a report to Congress that includes recommendations for improving tax administration.…
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IRS Announces Spanish-Language Child Tax Credit Assistant Tool
The Internal Revenue Service is welcoming the newest member of its Spanish-language features into the clan. The Child Tax Credit Eligibility Assistant that helps families determine if they qualify for the Child Tax Credit and its special advance payments is now available in Spanish.…
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