The IRS already has all the information it needs to collect tax debts and issue stimulus payments. It has no need to contact you for additional info -- and if it were to contact you, it would do so by mail. Don’t be fooled if someone claiming to be the IRS contacts...
IRS
The IRS wants to stop cryptocurrency tax evasion
Those who make a profit from cryptocurrency transactions generally need to pay taxes on their gains. However, the government has historically had trouble keeping track of how much a taxpayer may have earned trading or mining digital currencies in a given year....
Would the IRS send a letter saying you may deserve a tax credit?
You’ve received a letter—seemingly from the IRS—stating that you may qualify for an additional tax credit. In this age of heightened concerns surrounding identity theft, you’re suspicious about the letter’s legitimacy. Would the IRS...
Clearing up the myth that filing your tax return is voluntary
Despite strong evidence to the contrary, many people in the United States have a belief that they are not actually required by law to file their income tax returns. In recent American history, many pacifists have refused to pay their taxes as a form of conscientious...
How do you know you have an honest tax preparer?
You may think all tax preparers are created equal. That would be a dangerous assumption to make. There are dishonest tax preparers out there, and if your highly sensitive information gets into their hands, it could spell real trouble for you. Dishonest tax preparers...
Supreme Court case could mean lower penalties for tax evaders
A new case brought to the U.S. Supreme Court last month has the potential to change the definition of tax obstruction—which could result in more lenient penalties for people convicted of tax evasion.The case—Marinello v. United States—addresses the...
Filing reminder for employers: earlier W-2 deadline
It was last year at about this time that the Protecting Americans from Tax Hikes (PATH) Act went into effect, which, among other new regulations, changed the deadline by which employers must send copies of their W-2 forms to the Social Security Administration.Under...
How to avoid delays in getting your tax refund
You thought you did everything right. You gathered all of your necessary tax documentation as soon as it became available and filed your taxes early. Now you’re sitting around waiting for a refund check, which you thought should have arrived by now. It could be...
How to report healthcare coverage in 2017—tips for employers
Last week, we walked you through the Affordable Healthcare Act requirements for individuals to report their healthcare on their tax returns. This week, we look at the ACA tax requirements for employers.Applicable large employers If your company has 50 or more...
How to report healthcare coverage in 2017—tips for individuals
The Affordable Care Act has been a hot topic in Washington this year. We’ve followed months of debates and negotiations over whether to repeal and replace it. We’ve seen heated protests and town hall meetings across the country both for and against the...
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