Taxpayers needing to amend or correct a 1040 Form – including Forms 1040-SS, 1040-NR and others, can now do so electronically. Until recently, to do so required the filing of the amended or corrected returns on paper. Changes not only regarding income or deductions, but changes to filing status or to add a dependent not […]
Are you thinking about making some improvements to your home in 2023? Those improvements may bring you energy credits from the IRS if they meet certain criteria. Among the list of improvements that can qualify for credits are solar panels, solar water heaters, heat pumps, air conditioners, water heaters, hot water boilers, exterior doors, exterior […]
Knowledge is a taxpayer’s first line of defense against scammers who pretend to be from the IRS with the goal of stealing personal information. Here are some facts about how the IRS communicates with taxpayers:
We have all gotten those annoying emails that we know are scams and, hopefully, we have not taken the bait. Also, many have received phone calls that are scams claiming to be the IRS, a law enforcement agency or even claiming they have a loved one captive and are holding them for ransom. Recently, someone […]
In moving to automate the ability to electronically file more types of income taxes, the IRS has recently announced that corrections or amendments to Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico) and Forms 1040-PR, […]
The IRS provided an update last week on the status of the processing of income tax returns as follows: All paper and electronic individual returns received prior to January, 2022 that were free of errors and did not require further review have now been processed. Of the 8.7 million unprocessed individual returns filed in 2022, […]
(Straight from the IRS) Compiled annually, the Dirty Dozen lists a variety of common scams that taxpayers can encounter anytime. The IRS warns taxpayers, tax professionals and financial institutions to beware of these scams. This year’s list is divided into five groups. Here’s an overview of the top twelve tax scams of 2022. Potentially abusive […]
Who hasn’t seen these ads on television claiming that if you owe taxes, the advertiser can settle your debt for pennies on the dollar. Do you believe these ads to be valid? Every year, the IRS publishes their DIRTY DOZEN list which is basically a list of the top 12 scams with regard to taxes. […]
Are you one of those taxpayers who is waiting for a refund on your 2020 income tax return? Well, if so, the IRS has just alerted that the processing of 2020 income tax returns is expected to be completed by week’s end. The backlog was just another part of life that was affected by COVID. […]
Still looking for a refund to your returns filed? Unlike in previous years, you can now track refunds for the past two years. The IRS recently enhanced the “Where’s My Refund?” online tool and introduced a new feature that allows you to check the status for the current tax year and two previous years. This […]
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