The Internal Revenue Service and members of the Security Summit warn the nation’s tax professionals that it’s time to improve security measures for protecting their data and the data of their clients.…
The Internal Revenue Service has spent millions of dollars trying to get taxpayers located in foreign countries to report their holdings for tax purposes. A new federal audit, however, finds the IRS has fallen short in the effort.…
ITINs that haven’t been used at least once in three consecutive years or contain middle digits 73, 74, 75, 76, 77, 81, or 82 will expire on December 31, 2018—unless, of course, affected ITIN holders renew before the end of the year.…
The passage of the Tax Cut and Jobs Act in December, 2017 marked a sea change in how dependents are treated on the average Form 1040.…
The Electronic Tax Administration Advisory Committee (ETAAC) presented an annual report to Congress on June 27 emphasizing the importance of fighting identity theft tax refund fraud.…
At a time when phishing scams have consistently been in the news, it’s understandable that taxpayers would be cautious about responding to letters from “the IRS.” Luckily, the IRS has suggestions for…
Last week, draft copies of the new Form 1040 that is also rumored to be a replacement for the 1040A and 1040EZ began circulating. By the end of the week, the IRS confirmed several rumors when it issued a press release outlining the pending changes in broad terms.…
While Treasury Secretary Mnuchin teased the imminent release of the administration’s newly resurrected promise of a postcard-sized Form 1040 last Thursday, a leak seems to have stolen some of his thunder. Namely, it’s rumored that the new Form 1040 is expected to also replace the 1040A and 1040EZ.…
Taxpayers of Puerto Rico, the U.S. Virgin Islands or American Samoa who were affected by last year’s hurricanes or tropical storms are reminded they face a deadline to file their 2017 federal income tax returns—and pay any tax due.…
Look for big changes in the look of Form 1040. The tax code behind it, however, won’t be all that different.According to a published report in Accounting Today, Treasury Department officials plan to…
