2019

IRS Tax Tip 2019-50, April 30, 2019 Taxpayers who received an extension to file their 2018 tax return might have questions. They should remember that help is just a few clicks away on IRS.gov. Here are some of the tools and resources they may find useful. Researching a tax question The Interactive Tax Assistant asks a series …

IRS.gov is the first place to go for answers to tax questions Read More »

IRS Tax Tip 2019-49, April 29, 2019 Federal law requires a person to report cash transactions of more than $10,000 to the IRS. Here are some facts about reporting these payments. Who’s covered For purposes of cash payments, a “person” is defined as an individual, company, corporation, partnership, association, trust or estate. For example: Dealers …

Here’s what people should know about reporting cash payments Read More »

IRS Tax Tip 2019-48, April 25, 2019 This is the second tip of two tips recapping the list of the IRS’s annual “Dirty Dozen” list of top 12 tax scams. Thieves work throughout the year – often aggressively – to scam taxpayers. The schemes run the gamut from simple refund inflation scams to complex tax …

Dirty Dozen part 2: Thieves work all year to scam taxpayers Read More »

IRS Tax Tip 2019-47, April 24, 2019 The tax filing deadline has come and gone, but tax scammers continue to work. Again this year, the IRS highlights the twelve top scams in its “Dirty Dozen” list. These scams are often aggressive and happen throughout the year. The schemes run the gamut from simple refund inflation …

Dirty Dozen part 1: Taxpayers should be aware of these tax scams Read More »

IRS Tax Reform Tax Tip 2019-46, April 23, 2019 From renting spare rooms and vacation homes to car rides or using a bike…name a service and it’s probably available through the sharing economy. Taxpayers who participate in the sharing economy can find helpful resources in the IRS Sharing Economy Tax Center on IRS.gov. It  helps taxpayers understand …

Six things taxpayers should know about the sharing economy and their taxes Read More »

IRS Tax Reform Tax Tip 2019-45, April 22, 2019 Now that the April tax-filing deadline has come and gone, many taxpayers are eager to get details about their tax refunds. When it comes to refunds, there are several common myths going around social media. Here are five of these common myths: Myth 1: Getting a refund …

Don’t fall for myth-leading information about tax refunds Read More »

IRS Tax Tip 2019-44, April 18, 2019 The IRS just issued an updated publication with information for individual taxpayers and business owners unable to pay their taxes. This electronic pub, Offer in Compromise Booklet (PDF), helps people understand how an offer in compromise works. An offer in compromise is an agreement between a taxpayer and the IRS that …

Updated pub helps taxpayers understand an offer in compromise Read More »

IRS Tax Tip 2019-43, April 17, 2019 Just like taxpayers who file their taxes by the April deadline, those who filed an extension should also do everything to make sure their tax return is complete and accurate. Errors on a tax return can mean it will take longer for the IRS to process the return, …

Extension filers should avoid these errors when filing their tax return Read More »

IRS Tax Tip 2019-42, April 16, 2019 Before dontating to a charity, taxpayers often want to research the organization. The IRS has a tool that lets people access information about charities and other tax-exempt organizations fast and easily. The Tax Exempt Organization Search is available anytime on IRS.gov. Here are some things taxpayers will find when they …

Tool helps donors research tax-exempt organizations Read More »

IRS Tax Tip 2019-41, April 15, 2019 Taxpayers needing more time to file their taxes can get an automatic six-month extension from the IRS. For most taxpayers, this year’s tax-filing deadline is today, April 15. Taxpayers who live in Maine or Massachusetts have until April 17, 2019 to file their returns. This is because of …

Here’s how taxpayers can file an extension for more time to file their federal taxes Read More »