Fernando Evangelista – Page 30 – E-File Group – Professional Tax Services & Software

IRS Announces 2017 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017

IRS NewsBy Fernando Evangelista October 28, 2016

WASHINGTON — The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. Highlights of changes for 2017 The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs, and to claim the saver’s…

Be aware of tax scammers

IRS NewsBy Fernando Evangelista October 28, 2016

BUFFALO, N.Y. (WIVB) – Scammers seem to be getting more creative in using fear of the Taxman as a weapon to steal from taxpayers. The mere mention of the Internal Revenue Service is enough to evoke fear in many Americans, so using the IRS as a ruse to steal someone’s hard earned money can be…

IRS Now Accepting ITIN Renewal Applications; Taxpayers Encouraged to Act Soon to Avoid Processing Delays in 2017

UncategorizedBy Fernando Evangelista October 27, 2016

Note of Clarification: If taxpayers submit a tax return with an expired ITIN, they will experience a delay in processing and certain credits such as the Child Tax Credit and the American Opportunity Tax Credit may not be allowed unless the ITIN is renewed. Taxpayers are not, however, prohibited from filing a tax return. (Added…

Are You and Your Client Protected from Identity Theft?

BusinessBy Fernando Evangelista October 27, 2016

Recently, tax professionals have been the target of criminals for identity (ID) theft. Among other reasons, tax professionals work with a large amount of sensitive data; stolen data can be used to file fraudulent returns rather inexpensively, and the return to criminals is very high. What’s more, smaller firms make an attractive target because in…

IRS Hopes to Collect Billions in Taxes from Nonfilers

IRS NewsBy Fernando Evangelista October 27, 2016

The Internal Revenue Service plans to make changes in how it deals with people who don’t file tax returns to collect billions of dollars in lost tax revenue, according to a new report. The report, from the Treasury Inspector General for Tax Administration, said the IRS has a strategy in place as part of…

A police raid in India dramatically reduced the number of IRS scam reports

IRS NewsBy Fernando Evangelista October 25, 2016

It took a big raid in India to slow down an IRS impostor scam that resulted in thousands of people, many of them retirees, being bilked out of millions of dollars. The Better Business Bureau said last week that the hustle accounted for about one in four reports to its scam tracker. But the organization says it…

7 things to do if your tax refund is stolen

IRS NewsBy Fernando Evangelista October 25, 2016

There are few things worse than spending hours preparing your tax return only to discover that identity thieves have already snatched your refund. For many people, the misery starts with an error message from their tax software saying that they’ve already submitted a return; for paper filers, a letter from the IRS is usually the…

IRS and Security Summit Partners Warn of Fake Tax Bills

IRS NewsBy Fernando Evangelista October 25, 2016

WASHINGTON — The Internal Revenue Service and its Security Summit partners today issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act. The IRS has received numerous reports around the country of scammers sending a fraudulent version…

How To Drive New Business To Your Tax Practice—Market Globally And Affordably

BusinessBy Fernando Evangelista July 7, 2016

E File Group has a first row seat to what is driving new business to tax professionals around the world. Let me share a story with you that we received recently from one of our members. Allow me to preface this story with the fact that it would not have been possible for this tax…

Foreign Earned Income For U.S. Overseas Taxpayers

IRS NewsBy Fernando Evangelista July 5, 2016

Foreign Earned Income Exclusion (FEIE) – Who is eligible to claim it? U.S. citizens and resident aliens who live and work in a foreign country and meet the requirements. Not available to nonresident aliens. You claim it on Form 2555/2555-EZ. The exclusion amount is indexed annually for inflation. You may also be able to…

Author Archives: Fernando Evangelista

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