The IRS mails millions of letters to taxpayers every year for many reasons. Here are seven simple suggestions on how individuals can handle a letter or notice from the IRS: 1. Don’t panic. Simply responding will take care of most IRS letters and notices. 2. Read the entire letter carefully. Most letters deal with a specific issue […]
Small businesses across the country are preparing for their special day — Small Business Saturday – taking place on Nov. 25. The Internal Revenue Service wants new small business owners, including those involved in the sharing economy, to know that IRS.gov has an online resource center to help them learn all they need to know about the […]
The Internal Revenue Service reminds taxpayers looking to maximize their tax savings before the end of the year to consider charitable giving. Many taxpayers may already be planning on doing so for #GivingTuesday on Nov. 28. Giving money or goods to a tax-exempt charity before Dec. 31 can usually be deducted on that year’s federal […]
The IRS, state tax agencies and the nation’s tax industry joined together to warn small businesses to be on-guard against a growing wave of identity theft against employers. Small business identity theft is a big business for identity thieves. Just like individuals, businesses may have their identities stolen and their sensitive information used to open […]
The IRS, state tax agencies and private-sector tax groups warned the nation’s business, payroll and human resource communities about a growing W-2 email scam that threatens sensitive tax information held by employers. These emails may start with a simple, “Hey, you in today?” and, by the end of the exchange, all of an organization’s Forms […]
The number of data breaches was already on a record pace for 2017 before the reported theft of nearly 145 million Americans’ names, addresses and Social Security numbers brought the issue to the forefront. Every day, data thefts large and small put people’s personal and financial information at risk. There are steps that data theft […]
As tax filing season approaches, the Internal Revenue Service encourages taxpayers to visit IRS.gov first for tax tools and resources before calling. Nearly every tax issue can be resolved online. The recent IRS website redesign makes it easier for people to navigate IRS.gov. The front page is more task-based so actions like paying a tax […]
With the approach of the holidays and the 2018 filing season, the IRS, state tax agencies and the nation’s tax industry urge people to be on the lookout for new, sophisticated email phishing scams that could endanger their personal information and next year’s tax refund. The most common way for cybercriminals to steal bank account […]
During the online holiday shopping season, the IRS, state tax agencies and the tax industry remind people to be vigilant with their personal information. While shopping for gifts, criminals are shopping for credit card numbers, financial account information, Social Security numbers and other sensitive data that could help them file a fraudulent tax return. Anyone […]
From scrapbooking to glass blowing, many Americans enjoy hobbies that are also a source of income. A taxpayer must report income on their tax return even if it is made from a hobby. However, the rules for how to report the income and expenses depend on whether the activity is a hobby or a business. […]
