Did You Get a Refund You Didn’t Expect?
Everybody loves an income tax refund. But when a check for a tax refund shows up in your mailbox unexpectedly, it could be a signal of something very wrong: a tax scam.…
Budget Bill Passed, Renews Tax Extenders
After a brief shutdown overnight, the House voted to reopen the government by passing a $400 billion budget that increases spending caps, raises the debt ceiling, and provides disaster relief for Texas, Florida, and Puerto Rico. President Trump signed it into law this morning.…
Is Bitcoin a Viable Currency?
Cryptocurrencies have made some early adopters a lot of money, which—for conscientious taxpayers and tax professionals alike—begs the question: how does IRS handle Bitcoin and other virtual currency?…
IRS Urges Taxpayers to Renew ITINs
The Internal Revenue Service says taxpayers who have not renewed their expired Individual Taxpayer Identification Number (ITIN) will face processing delays if the number is used to file a return. In addition, the taxpayer could lose eligibility for key tax benefits until the ITIN is renewed.…
Fertile New Ground for Hackers
It used to be said that the only things that are inevitable in this life are death and taxes. You might want to add “hacking” to that list. According to the computer information security and cybercrime monitoring website HackRead, it’s being reported that some cybercriminals are targeting much younger victims these days for their Personally Identifiable Information (PII).…
President Expected to Nominate Rettig as New IRS Commissioner
According to a recent Politico report, President Trump intends to nominate Charles Rettig as the next IRS Commissioner.…
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A Friendly Tax Season 2018 Reminder
While most of the big tax-code changes we’ve heard about in the tax legislation passed in December don’t take effect until TY 2018, there are still a few things preparers need to keep in mind this season.…
How Does a Government Shutdown Affect IRS Services?
Senate leadership today reached a deal to reopen the federal government, having passed the procedural-vote hurdle this afternoon (81-18). The agreement comes just days after Friday’s continuing resolution failed to garner the 60 votes required to avoid a filibuster.…
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Pre-Tax Season Reminders: Passports and Refunds
We’re a little less than two weeks away from the start of tax season, and, as always, certain taxpayers will have extra check boxes on their to-do lists. Up today: people with delinquent tax debt and returns claiming ACTC and EITC.…
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Updated 2018 Withholding Tables Now Available
The Internal Revenue Service has released its Notice 1036, which updates income tax withholding tables for 2018 and reflects changes made by the tax legislation passed recently.…
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