Phony IRS calls increase during filing season
The tax filing season is a busy time for taxpayers, but scammers also stay busy. Taxpayers should be aware of several types of tax scams, but phone scams start to increase…
Read moreTax reform changes to fringe benefit deductions affect business’s bottom line
The Tax Cuts and Jobs Act includes tax law changes that affect businesses and the 2018 tax returns they file this year. One change is to fringe benefit deductions, which…
Read moreRefunds of $1.4 billion waiting to be claimed by individuals who have not filed federal income tax returns for 2015
WASHINGTON ― Unclaimed income tax refunds totaling almost $1.4 billion may be waiting for an estimated 1.2 million taxpayers who did not file a 2015 Form 1040 federal income tax…
Read moreIRS reminds those with disabilities of new ABLE account benefits
WASHINGTON – The Internal Revenue Service wants to remind those with disabilities that the Tax Cuts and Jobs Act (2017) made major changes to Achieving a Better Life Experience (ABLE)…
Read moreTool on IRS.gov helps taxpayers research charities before making donations
When people are done giving thanks at the dinner table, many start another kind of giving. The annual Giving Tuesday happens the week after Thanksgiving to kick off the season…
Read moreIRS issues proposed regulations on new business interest expense deduction limit
WASHINGTON — The Internal Revenue Service issued proposed regulations today for a provision of the Tax Cuts and Jobs Act, which limits the business interest expense deduction for certain taxpayers. Certain small…
Read moreIRS issues proposed regulations on foreign tax credits
WASHINGTON — The Internal Revenue Service issued proposed regulations today on foreign tax credits for businesses and individuals. The 2017 Tax Cuts and Jobs Act (TCJA), legislation passed in December 2017, made…
Read moreOct. 15 tax-filing extension deadline approaches for millions of taxpayers
WASHINGTON — The Internal Revenue Service today urged taxpayers who requested the six-month filing extension to double check their tax returns and file on or before the mid-October deadline. More…
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