IRS Updates Guidelines for Passwords
Strong passwords are the first “lock” hackers and identity thieves will hit if they break into your computer. These new recommendations will help ensure those locks hold.…
IRS Recommends Withholding Checkup for Taxpayers
The Internal Revenue Service says taxpayers need to check on their withholding levels to see if they have the right amount of tax held out of their paychecks. The reason is the new tax reform law that…
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IRS to Issue Guidance on College Savings Plans
The Internal Revenue Service says it will issue regulations on some tax law changes that affect 529 college savings plans.…
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Staying Ahead of the Curve
The Internal Revenue Service has released a new, expanded guide for tax professionals that can be used in the fight to protect data.…
IRS Now Accepting ITIN Renewals
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.…
Tax Treatment of Dependents is a Different World Now
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.…
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So You Got a Letter from the IRS
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…
New 1040 is a Postcard
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…
IRS Warns Millions of ITINs to Expire This Year
More than 2 million Individual Taxpayer Identification Numbers (ITINs) are due to expire by the end of this year, and the Internal Revenue Service is urging taxpayers to apply for renewal.The…
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Survey Finds IRS Collections Target Low-Income Taxpayers
A review by the Taxpayer Advocacy Service has found that private debt collection agencies working on the IRS’ behalf may be forcing many taxpayers into payment plans they cannot afford.Accounting…
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