Prepare for taxes: Filing electronically is easy and secure IR-2017-206SP, December 19, 2017 WASHINGTON – The Internal Revenue Service said today it expects more than 90 percent of all individual tax returns for 2017 are prepared using tax software. Most of these will be presented by e-file . Since 1986 when the IRS began accepting tax returns… Read More »
Issue Number: IRS Tax Tip 2017-94 Inside This Issue Tax Professionals: Visit IRS.gov for Data Protection Resources Tax professionals increasingly are targeted by cybercriminals seeking to steal sensitive client data. Thieves use stolen information to file fraudulent tax returns. These criminals are based both here and abroad. They are highly sophisticated, well-funded and technologically adept. Because… Read More »
Issue Number: N-2017-74 Inside This Issue Notice 2017-74 provides that Individuals who are not eligible for coverage under an eligible employer-sponsored plan and who lack access to affordable coverage should not be denied the use of the affordability exemption under § 5000A(e)(1) of the Code and § 1.5000A-3(e) of the Regulations merely because they reside in… Read More »
Issue Number: IRS Tax Tip 2017-89 Get to Know the Taxpayer Bill of Rights – Part 2 This is the final tip in a two-part summary of the rights granted to all taxpayers. Every taxpayer has rights. The Taxpayer Bill of Rights takes these rights from the tax code and groups them into 10 categories. Taxpayers interacting with… Read More »
IRS Tax Tip 2017-88SP Know the Taxpayer Bill of Rights – Part 1 This is the first council in a summary of two parts of the rights granted to all taxpayers. All taxpayers have rights. The Bill of Rights as a Taxpayer take these rights of the tax code and groups them into 10 categories. Taxpayers who interact with the IRS… Read More »
Issue Number: Renting Your Vacation Home Here is a video tax tip from the IRS: Renting Your Vacation Home English | Spanish | ASL Other IRS News
Five Signs of Small Business Identity Theft, New Protection Methods Small business identity theft is a big business. Just like individuals, businesses can be victims too. Thieves use a business’s information to file fake tax returns or get credit cards. Identity thieves are more sophisticated than they used to be. They know the tax code… Read More »
Five Things to Know about Estimated Taxes and Withholding With 10 million taxpayers a year facing estimated tax penalties, the IRS offers some simple tips to help prevent a surprise at tax time. People pay taxes on income through withholding on their paycheck or through estimated tax payments. Taxpayers who pay enough tax throughout the year… Read More »
1. Audit Technique Guides for Exempt Organizations Examiners use these guides during audits of specific types of exempt organizations. 2. The Enduring Relevance of Rev. Proc. 71-17 on IRC Section 501(c)(7) Organizations Read the IRS issue snapshot on the effect of a 501(c)(7) club’s non-member income on its unrelated business taxable income and exemption. Related IRS News
What Taxpayers Can Do Now Before Filing Their Return in 2018 While taxpayers will not start filing their tax returns for a few months, there are a few things they can do to make the process easier next year. Here are two things that could affect the 2017 returns they will file in 2018. Report… Read More »