IRS

Need To Correct or Amend Your Form 1040?

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 […]

Share

Read More →

Read More →

SCAM SEASON, ‘ER, I MEAN TAX SEASON

We are in the first half of January and the scamming has already begun with scammers claiming to be from the IRS.  This is the prime time of the year when thieves posing as the IRS call people and threaten them by saying that taxes are owed.  Please don’t fall for these scams.  Stay vigilant.  […]

Share

Read More →

Read More →

2023 Energy Credits

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 […]

Share

Read More →

Read More →

Everyone Should Know the Facts About How the IRS Communicates With Taxpayers

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:

Share

Read More →

Read More →

Beware Of Texting Scams

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 […]

Share

Read More →

Read More →

Do You Need To Amend Or Correct Your Income Tax Return?

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, […]

Share

Read More →

Read More →

IRS Update on Processing of Income Tax Returns

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, […]

Share

Read More →

Read More →

A Few Highlights of the Recently Signed Reconciliation Bill

The news has been filled with talk about the Reconciliation Bill known as the Inflation Reduction Act of 2022 that was recently signed into law.  As is common with most bills, they are lengthy (this one being more than 300 pages) and contain many provisions that are not highlighted and therefore are overlooked.  To keep […]

Share

Read More →

Read More →

An Overview of the IRS’s 2022 Dirty Dozen Tax Scams

(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 […]

Share

Read More →

Read More →

Owe Money to the IRS?  Reduce Your Debt for Pennies on the Dollar

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.  […]

Share

Read More →

Read More →

Top