Q: What tax scams should I be watching out for this year? A: Many in the cybersecurity business refer to tax season as “Christmas for Criminals,” because of the amount of sensitive personal information that will be in circulation. The IRS reported a nearly 400 percent surge in phishing and malware incidents in the 2016…
The IRS wants taxpayers with disabilities and the parents of children with disabilities to be especially aware of whether they qualify for the EITC. People with disabilities are often concerned that a refund will impact their eligibility for one or more public benefits, including Social Security disability benefits, Medicaid and Food Stamps. Refunds, including refunds…
WASHINGTON – The Internal Revenue Service, state tax agencies and the tax industry today renewed their warning about an email scam that uses a corporate officer’s name to request employee Forms W-2 from company payroll or human resources departments. This week, the IRS already has received new notifications that the email scam is making its…
ASHLAND, Ky. (WSAZ) — Tuesday was Day 2 of tax filing season and that means scammers are out in force, working the phone lines, trying to get your personal data and your refund. As WSAZ has already reported, it’s such a concern that Congress has pushed back the refunds until late February for more than…
It’s that time of year again, when IRS Forms 1099 arrive. Perhaps no one likes IRS Forms 1099 except the IRS. The agency loves them, because they allow for the easy computer matching of Form 1099 data against tax returns. Businesses may not like sending the forms out, but there are penalties for failing to issue them. Besides, no…
The year 2016 will go down in history for many reasons. For those who got married, had a baby, went through a divorce, picked up a side gig or were widowed, there are important tax consequences that need to be remembered as well. You need to let the IRS know of any major changes on…
Since Donald Trump won the election, undocumented immigrants who were brought to the United States as children have grown fearful that he would follow through on his vow to repeal an executive order that protects them from being deported. Put in place by President Obama, the Deferred Action for Childhood Arrivals (DACA) program has helped…
In a new proposal, the IRS is seeking regulatory changes to issues regarding the definition of “dependent.” The proposal reflects statutory changes by the Working Families Tax Relief Act of 2004 (WFTRA) and the Fostering Connections to Success and Increasing Adoptions Act of 2008 (FCSIAA). The IRS on Jan. 19 withdrew proposed regulations issued in 2000…
WASHINGTON — The Internal Revenue Service wants taxpayers with disabilities and parents of children with disabilities to be aware of the Earned Income Tax Credit (EITC) and correctly claim it if they qualify. The EITC is a federal income tax credit for workers who don’t earn a high income ($53,505 or less for 2016) and…
It began with a tweet, as so much does these days. The first shot in the coming war was fired in a 140-character burst by Shervin Pishevar, a venture capitalist in Silicon Valley. “If Trump wins I am announcing and funding a legitimate campaign for California to become its own nation,” said the first in…
