Individual

IRS Tax Tip 2019-114, August 21, 2019 Despite major progress against identity and data theft, these threats still happen. They continue to put tax professionals and their clients at risk. To help combat this, the IRS and its Security Summit partners created a new Taxes-Security-Together Checklist. The checklist includes things tax pros can do now to prevent …

Tax pros should review new checklist with steps to protect data Read More »

IRS Tax Reform Tax Tip 2019-112, August 19, 2019 Year-round tax planning is important for everyone. Just because a taxpayer already filed their tax return doesn’t mean they don’t need to think about taxes for the rest of the year. In fact, what they do now may affect any tax they might owe next year. …

Tax planning should include a Paycheck Checkup Read More »

IRS Tax Reform Tax Tip 2019-111, August 15, 2019 Taxpayers who haven’t yet checked their withholding this year should do so ASAP. All taxpayers can do this by using the new mobile-friendly Tax Withholding Estimator. This new tool can be used by workers, as well as retirees, self-employed individuals and other taxpayers. It’s a user-friendly step-by-step …

Here’s what taxpayers should know about the new IRS Tax Withholding Estimator Read More »

IRS Tax Tip 2019-110, August 14, 2019 Taxpayers with expiring individual taxpayer identification numbers should renew their number ASAP. There are nearly 2 million ITINs set to expire at the end of 2019. Taxpayers with an expiring number should renew before the end of this year. This will help avoid unnecessary delays related to their …

Taxpayers with expiring ITINs should renew them now Read More »

IRS Tax Reform Tax Tip 2019-109, August 13, 2019 Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty when they file next year. Everyone must pay tax as they …

Here’s what taxpayers should know about making 2019 estimated tax payments Read More »

IRS Tax Reform Tax Tip 2019-108, August 12, 2019 All taxpayers should use the new Tax Withholding Estimator to do a Paycheck Checkup. This tool helps people make sure their employers are taking out the right amount of tax from the employee’s paychecks. The money withheld from an employee’s paychecks throughout the year should cover the amount of …

Taxpayers can follow these three steps to use new Tax Withholding Estimator Read More »

IRS Tax Tip 2019-107, August 8, 2019 Summertime activities often affect the tax returns people file the following year. Here are some things taxpayers do during the summer along with tips they should consider now: Getting married. Newlyweds should report any name change to the Social Security Administration. They should also report an address change to the …

These summer activities can affect next year’s tax returns Read More »

IRS Tax Reform Tax Tip 2019-106, August 7, 2019 All employees should make sure their employers are withholding the correct amount of tax from their paychecks. The best way for employees to do this is to use the new IRS Tax Withholding Estimator on IRS.gov. The IRS just launched this improved tool to help taxpayers check their …

Improved tool on IRS.gov helps taxpayers check their withholding Read More »