Plan now to Use Health Flexible Spending Arrangements in 2017; Contribute up to $2,600; $500 Carryover Option Available to Many

WASHINGTON ― The Internal Revenue Service today reminded eligible employees that now is the time to begin planning to take full advantage of their employer’s health flexible spending arrangement (FSA) during 2017. FSAs provide employees a way to use tax-free dollars to pay medical expenses not covered by other health plans. Because eligible employees need…

IRS Advice to Those with Expiring ITINs: Apply Now to Avoid Refund Delays; Agency Offers Tips on Avoiding Common Errors

WASHINGTON — The Internal Revenue Service today urged any taxpayer with an expiring Individual Taxpayer Identification Number (ITIN) and a need to file a return in the upcoming filing season to file a renewal application in the next few weeks to avoid refund and processing delays. In addition, the IRS encouraged people to check their…

National Tax Security Week Concludes; IRS, Security Summit Partners Continues Work to Protect Taxpayers in 2017

WASHINGTON — The Internal Revenue Service and Security Summit partners urged taxpayers to take immediate steps to protect their personal data to strengthen expanded efforts being taken this upcoming tax season by federal, state and tax industry leaders against identity theft and refund fraud. The Security Summit, an unprecedented collaborative effort between the IRS, the…