Taxpayers who like to file early to get a quick turnaround of a refund may be disappointed this tax season. In its effort to battle fraud, the IRS has a new strategy: Delay the refunds of filers who are more likely to take certain tax credits that are frequently claimed improperly or are the target…
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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…
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Donald Trump‘s choice to head the Labor Department is an outspoken immigration supporter whose views seem to clash with the president-elect. With the announcement Thursday that Trump will nominate Andrew Puzder came speculation — and grumbling — that he would favor an open-border policy that would clash with the hard-line talk his potential boss espoused…
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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…
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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…
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WASHINGTON ― The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 23, 2017, and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million individual tax returns expected to be filed…
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WASHINGTON — President-elect Donald J. Trump on Wednesday appeared to soften his stance on whether to deport the more than 700,000 young people who entered the country illegally as children and were permitted to stay by President Obama. “We’re going to work something out that’s going to make people happy and proud,” Mr. Trump told…
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WASHINGTON — As tax season approaches, the Internal Revenue Service, the states and the tax industry reminded taxpayers to be on the lookout for an array of evolving tax scams related to identity theft and refund fraud. Every tax season, there is an increase in schemes that target innocent taxpayers by email, by phone and…
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WASHINGTON — The Internal Revenue Service and its Security Summit partners cautioned taxpayers today to avoid identity theft by watching for phishing scams that can increase around the tax season. The IRS, state tax agencies and the tax industry — all partners in the fight against identity theft — reminded taxpayers that the easiest way…
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WASHINGTON — The Internal Revenue Service today reminded wrongfully-incarcerated taxpayers, wishing to take advantage of the special retroactive tax exclusion now available to them, that in many cases, they must file their refund claims by Dec. 19. This income tax exclusion applies to any civil damages, restitution or other monetary award received in connection with…
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