IRS News

New Federal Withholding Tables

The 2018 federal withholding tables, which were issued later than usual due to enactment of the Tax Cuts and Jobs Act (the Act), must be used beginning Thursday, Feb. 15, 2018. That is also the deadline for changing the optional flat rate for withholding on supplemental wage payments of $1 million or less (bonuses, commissions,

Posted in DC Updates, Federal Tax | Tagged , | Comments Off on New Federal Withholding Tables

Beware of Fake Calls to Return IRS Refund Money to a Collection Agency

The Internal Revenue Service today warned taxpayers of a quickly growing scam involving erroneous tax refunds being deposited into their bank accounts. Following up on a Security Summit alert issued Feb. 2, the IRS issued this additional warning about the new scheme. In addition, the number of potential taxpayer victims jumped from a few hundred

Posted in DC Updates, Federal Tax | Tagged , | Comments Off on Beware of Fake Calls to Return IRS Refund Money to a Collection Agency

How to avoid a surprise tax burden for 2016

As you come to the end of 2016, ask yourself a few simple questions in regard to your tax position. What will I do if my return is prepared and there is a large balance due that I am not prepared to pay? What can I do now to estimate what my tax liability may

Posted in DC Updates, Federal Tax | Tagged , | Comments Off on How to avoid a surprise tax burden for 2016
Many taxpayers who filed their 2018 tax returns are still seeing red. Even if their tax burden was lower than previous years, they discovered that they owed money to the IRS – sometimes painfully ... [...]
Fri, May 24, 2019
Source: IRS News
Nearly two years after Hurricane Harvey, some families are still recovering but now, they say they're being targeted for audits by the IRS. ... [...]
Fri, May 24, 2019
Source: IRS News
Last week, the IRS unveiled a major change in how it identifies its biggest and most complex large corporations for examination. The move is part of the IRS's broader efforts toward “portfolio ... [...]
Fri, May 24, 2019
Source: IRS News
Last week, the IRS unveiled a major change in how it identifies its biggest and most complex large corporations for examination. The move is part of the IRS's broader efforts toward “portfolio ... [...]
Fri, May 24, 2019
Source: IRS News
Safehouse, the nonprofit hoping to open a supervised injection site in Philadelphia, has been granted tax-exempt status by the Internal Revenue Service, according to documents obtained by The Inquirer ... [...]
Fri, May 24, 2019
Source: IRS News
Safehouse, the nonprofit hoping to open a supervised injection site in Philadelphia, has been granted tax-exempt status by the Internal Revenue Service, according to documents obtained by The Inquirer ... [...]
Fri, May 24, 2019
Source: IRS News
A judge has sentenced Luckner Stimphil, 55, and his daughter, Elwolfine Dufort, 31, to federal prison for their roles in a tax fraud conspiracy. Stimphil was a pastor at First Calvary Family Life ... [...]
Fri, May 24, 2019
Source: IRS News
Your article was successfully shared with the contacts you provided. (Photo: Allison Bell/ALM) The IRS is reminding taxpayers to check their tax withholding following a tax filing season that resulted ... [...]
Fri, May 24, 2019
Source: IRS News
My iPhone caller ID often reads: Scam Likely. My first thoughts are that this sounds like the name of a new Bond villain, Scam Likely. Occasionally, I'll answer these ‘Scam Likely' calls. ... [...]
Fri, May 24, 2019
Source: IRS News
Under federal law, when certain members of Congress ask for private tax information, the IRS has no choice but to hand it over, according to that legal analysis, which The Washington Post exposed ... [...]
Thu, May 23, 2019
Source: IRS News