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Feb 01
Jan 19

No Exceptions for Child Tax Credit Age Limit

The Child Tax Credit is allowed under IRC section 24 for each qualifying child of the taxpayer provided the taxpayer’s modified AGI is below a certain phaseout range. The IRC section for the Child Tax Credit defines a qualifying child as a child described in IRC section 152(c), who has... read more →
Nov 28

Tax Filing Tips for Married Couples

  If you got married last year, then you and your spouse know what it’s like to go through some firsts together. Now get ready for another one—it’s time to face the IRS for the first time as a couple! IRS Now Pronounces You… You can file as married if... read more →
Oct 10

IRS Warns of Fake CP2000 Notice Emails

Cross References - IR-2016-123 The Internal Revenue Service and its Security Summit partners has 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... read more →
Aug 30

Retirement Plans Can Make Loans, Hardship Distributions to Louisiana Flood Victims

WASHINGTON —The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to Louisiana flood victims and members of their families. Participants in 401(k) plans, employees of public schools and tax-exempt organizations with 403(b) tax-sheltered annuities, as well as state and local... read more →
Jun 29

New Law to Affect Refunds in 2017

The IRS has announced initial plans for processing tax returns involving the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) during the opening weeks of the 2017 filing season. The IRS is sharing the information now to help the tax community prepare for the 2017 season, and... read more →
Jun 16

IRS Warns of New Scam— the Federal Student Tax

Cross References - IR-2016-81, May 27, 2016 The Internal Revenue Service has issued a warning to taxpayers about bogus phone calls from IRS impersonators demanding payment for a non-existent tax, the "federal student tax." Even though the tax deadline has come and gone, scammers continue to use varied strat- egies... read more →
Apr 26

IRS Provides Tax Relief to Houston Area

Issue Number:    IR-2016-67 WASHINGTON –– Texas storm victims, including those in the Houston area,  will have until Sept. 1, 2016 to file their returns and pay any taxes due, the Internal Revenue Service announced today. All workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization... read more →
Feb 25

Return Preparer Fraud Is on the IRS Annual “Dirty Dozen” List

  Return Preparer Fraud Is on the IRS Annual “Dirty Dozen” List of Tax Scams to Avoid During the 2016 Filing Season This message was distributed automatically from the mailing list IRS Newswire. WASHINGTON — The Internal Revenue Service today warned taxpayers to be on the lookout for unscrupulous return... read more →
Jan 27

Stay Alert for Scam Phone Calls

The IRS continues to warn consumers to guard against scam phone calls from thieves intent on stealing their money or their identity. Criminals pose as the IRS to trick victims out of their money or personal information. To read full article with IRS tips to help you avoid being a... read more →