IRS News

Have you seen IRS imposter agents?

One of our clients in a small Iowa town recently had an unexpected visitor; a woman posing as an IRS agent.  This client was not in collections or even behind on their taxes. This was a bogus call and the individual probably hoped to get cash. She came with a business card which bore the

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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,

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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

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A new IRS notice will allow many with chronic health conditions who participate in high-deductible health plans (HDHPs) with health savings accounts (HSAs) to receive necessary care that may otherwise ... [...]
Tue, Jul 23, 2019
Source: IRS News
The latest item eligible for your flexible or health spending account? A 23andMe genetic testing kit. On Monday (July 22) the Wall Street Journal reported that in May, the United States Internal ... [...]
Tue, Jul 23, 2019
Source: IRS News
WASHINGTON (AP) — Federal prosecutors say a North Carolina man has pleaded guilty to conspiracy to defraud the U.S. The U.S. Department of Justice said in a news release on Monday that Garvey Imhotep ... [...]
Tue, Jul 23, 2019
Source: IRS News
We all know the U.S. tax system is complicated. And now, thanks to outgoing National Taxpayer Advocate Nina Olson, there's a poster you can hang up in your home or office to prove it. (It's great ... [...]
Tue, Jul 23, 2019
Source: IRS News
Boris Johnson, Britain's newly-crowned prime minister of the U.K., was born in New York City and only recently relinquished his American passport when the Internal Revenue Service chased him for ... [...]
Tue, Jul 23, 2019
Source: IRS News
An annual Government Accountability Office (GAO) audit has found more security vulnerabilities in the Internal Revenue Service (IRS) IT systems. An annual Government Accountability Office (GAO) audit ... [...]
Tue, Jul 23, 2019
Source: IRS News
23andMe says the decision means consumers can claim up to $117.74 of the $199 cost of a health-and-ancestry kit as medical care for tax purposes. The agency made no ruling on ancestry testing from ... [...]
Tue, Jul 23, 2019
Source: IRS News
WASHINGTON – The Internal Revenue Service reminded tax professionals that this year's Nationwide Tax Forums offer several different sessions focusing on the new tax law's provisions involving ... [...]
Mon, Jul 22, 2019
Source: IRS News
WASHINGTON—Buyers of 23andMe Inc.'s genetic-testing kits will now have an easier time paying for the service with tax-advantaged health accounts after a favorable IRS ruling. The decision offers more ... [...]
Mon, Jul 22, 2019
Source: IRS News
Do wildfire victims worry about their taxes? You bet. How fire victims are taxed depends on what they collect, what they claim on their taxes, if they are rebuilding their property, their insurance ... [...]
Sat, Jul 20, 2019
Source: IRS News