Ten Tax-Time IRS Tips to Consider The tax filing deadline is Tuesday, April 18 this year. This is because April 15falls on a weekend and the following Monday is a holiday in the District of Columbia. Even with an extra three days, the IRS urges taxpayers to avoid waiting until the last minute to file… Read More »
Issue Number: A-2017-03 Announcement 2017-03, the Advance Pricing and Mutual Agreement (APMA) program report. § 521(b) of Pub. L. 106-170, the Ticket to Work and Work Incentives Improvement Act of 1999 requires the Secretary of the Treasury to report annually to the public concerning advance pricing agreements (APAs) and the Advance Pricing and Mutual Agreement Program… Read More »
Announcement 2017-04 provides relief from the excise taxes under section 4975 of the Internal Revenue Code to certain individuals engaged in what are called “prohibited transactions.” The relief parallels similar relief provided by the Department of Labor to these individuals in a recently released Field Assistance Bulletin. Announcement 2017-04 will be in IRB 2017-16, dated… Read More »
Are Tips Taxable? IRS Offers ‘Tips’ on Tips Generally, income received in the form of tips is taxable. The IRS provides some information that helps taxpayers report tip income correctly: Interactive Tax Assistant Tool. The ITA tool is a tax-law resource that asks taxpayers a series of questions and provides a response based on the… Read More »
IRS Reminds Seniors to Remain on Alert to Phone Scams during Tax Season WASHINGTON – With the 2017 tax season underway, the IRS reminds seniors to remain alert to aggressive and threatening phone calls by criminals impersonating IRS agents. The callers claim to be IRS employees, but are not. These con artists can sound convincing… Read More »
Free Tax Help Available for the Military The Volunteer Income Tax Assistance program provides free tax help to military members and their families. On or off base, VITA is easy to find — even overseas. Keep these five tips in mind about free tax help for the military: 1. Armed Forces Tax Council. The… Read More »
IRS Announces Taxpayer Advocacy Panel Members Selected for 2017; Recruits Members for 2018 WASHINGTON — The Internal Revenue Service announced today the selection of 24 new members to serve on the nationwide Taxpayer Advocacy Panel. The TAP is a federal advisory committee charged with providing taxpayer suggestions to improve IRS customer service. The new TAP… Read More »
Top Ten Adoption Tax Credit Facts to Consider Taxpayers who have adopted or tried to adopt a child in 2016 may qualify for a tax credit. Here are ten important things about the adoption credit: The Credit. The credit is nonrefundable, which may reduce taxes owed to zero. If the credit exceeds the tax owed,… Read More »
The Taxation of Companies 2017 Hardcover – Deckle Edge, 16 Feb 2017 by Michael Feeney (Author) This key book provides the most comprehensive analysis and commentary available on the taxation of companies in Ireland. This new edition is updated to the latest Finance Act. An extremely practical book, it features detailed worked examples and extensive references… Read More »
Tax Refund Offsets Pay Unpaid Debts If you can’t pay your taxes in full, the IRS will work with you. Past due debts like taxes owed, however, can reduce your federal tax refund. The Treasury Offset Program can use all or part of your federal refund to settle certain unpaid federal or state debts, to… Read More »