IRS Issues Urgent Warning to Beware IRS FBI Themed Ransomware SCAM.
Aug29

IRS Issues Urgent Warning to Beware IRS FBI Themed Ransomware SCAM.

The Internal Revenue Service today warned people to avoid a new phishing scheme that impersonates the IRS and the FBI as part of a ransomware scam to take computer data hostage.   The scam email uses the emblems of both the IRS and the Federal Bureau of Investigation. It tries to entice users to select a “here” link to download a fake FBI questionnaire. Instead, the link downloads a certain type of malware called ransomware that...

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Job Search Expenses Can be Tax Deductible.
Aug27

Job Search Expenses Can be Tax Deductible.

Taxpayers who are looking for a new job that is in the same line of work may be able to deduct some job-hunting expenses on their federal income tax return, even if they don’t get a new job. Here are some important facts to know about deducting costs related to job searches: Same Occupation. Expenses are tax deductible when the job search is in a taxpayer’s current line of work. Résumé Costs. Costs associated in preparing and mailing...

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Divorce Or Separation May Affect Taxes.
Aug25

Divorce Or Separation May Affect Taxes.

Taxpayers who are divorcing or recently divorced need to consider the impact divorce or separation may have on their taxes. Alimony payments paid under a divorce or separation instrument are deductible by the payer, and the recipient must include it in income. Name or address changes and individual retirement account deductions are other items to consider.   IRS.gov has resources that can help along with these key tax tips: Child...

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File Form 1040X To Amend A Tax Return.
Aug23

File Form 1040X To Amend A Tax Return.

Mistakes happen and tax returns are no exception. Filing an amended tax return corrects information that changes tax calculations. This includes making changes to filing status and dependents, or correcting income credits or deductions. Don’t file an amended return to fix math errors because the IRS will correct those. The IRS offers tips on how to amend a tax return: File using paper form. Use Form 1040X, Amended U.S. Individual...

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Know Your Taxpayer Bill Of Rights.
Aug21

Know Your Taxpayer Bill Of Rights.

Every taxpayer has a set of fundamental rights and the IRS has an obligation to protect them. The “Taxpayer Bill of Rights” groups the taxpayer rights found in the tax code into 10 categories. Know these rights when interacting with the IRS. A good way to learn about them is by reading Publication 1, Your Rights as a Taxpayer. Below are the descriptions of each right, as listed in Publication 1: The Right to Be Informed. Taxpayers...

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