Consumer Alert: IRS Warns Taxpayers, Tax Pros of New Email Scam Targeting Hotmail Users
Dec16

Consumer Alert: IRS Warns Taxpayers, Tax Pros of New Email Scam Targeting Hotmail Users

The Internal Revenue Service today warned taxpayers and tax professionals of a new email scam targeting Hotmail users that is being used to steal personal and financial information. The phishing email subject line reads: “Internal Revenue Service Email No. XXXX | We’re processing your request soon | TXXXXXX-XXXXXXXX”. The email leads taxpayers to sign in to a fake Microsoft page and then asks for personal and financial information....

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Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31
Dec14

Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31

As tax filing season approaches, the Internal Revenue Service reminds taxpayers there are things they should do now to get ready for filing season. For most taxpayers, Dec. 31 is the last day to take actions that will impact their 2017 tax returns. For example, charitable contributions are deductible in the year made. Donations charged to a credit card before the end of 2017 count for the 2017 tax year, even if the bill isn’t paid...

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Get Ready for Taxes: Taxpayers With Expiring ITINs Should Submit Renewal Applications By December 31
Dec12

Get Ready for Taxes: Taxpayers With Expiring ITINs Should Submit Renewal Applications By December 31

The Internal Revenue Service reminds taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) to submit their renewal applications as soon as possible. Failing to renew them by the end of the year will cause refund and processing delays in 2018. The IRS mailed letters over the summer to more than 1 million taxpayers  whose ITINs are set to expire at the end of the year – those with middle digits 70, 71, 72 or 80. In...

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Interest Rates Remain the Same for the First Quarter of 2018.
Dec10

Interest Rates Remain the Same for the First Quarter of 2018.

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2018.  The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; 1 and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000; four (4) percent for underpayments; and six (6) percent for large corporate underpayments. Under the...

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National Tax Security Awareness Week No. 5: Small Businesses: Be Alert to Identity Theft
Dec07

National Tax Security Awareness Week No. 5: Small Businesses: Be Alert to Identity Theft

The IRS, state tax agencies and the nation’s tax industry joined together to warn small businesses to be on-guard against a growing wave of identity theft against employers. Small business identity theft is a big business for identity thieves. Just like individuals, businesses may have their identities stolen and their sensitive information used to open credit card accounts or used to file fraudulent tax refunds for bogus refunds. The...

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