WASHINGTON – In day seven of the Dirty Dozen tax scam series, the Internal Revenue Service and Security Summit partners today alerted taxpayers to be on the lookout for unscrupulous tax preparers who could encourage people to file false tax returns and steal valuable personal information. A common problem seen annually during tax season, “ghost preparers” pop up to encourage taxpayers to take advantage of tax credits and benefits for […]

Taxpayers can check the status of their refund easily and conveniently with the IRS Where’s My Refund tool at IRS.gov/refunds. Refund status is available within 24 hours after the taxpayer e-filed their current year return. The tool also gives the taxpayer a personalized refund date after the IRS processes the return and approves the refund. Where’s My Refund tool updates Recent updates to the tool mean fewer taxpayers will need to call […]

WASHINGTON – The Internal Revenue Service announced today that compliance efforts around erroneous Employee Retention Credit (ERC) claims have topped more than $1 billion so far since last fall as work continues on a number of efforts to counter questionable claims pushed by aggressive marketing, including an aggressive push on claims made for 2021. “The IRS has made important progress in our compliance efforts protecting more than $1 billion in […]

WASHINGTON – As the April 15 filing deadline approaches, the Internal Revenue Service issued a reminder to taxpayers on ways to prevent typical errors on their federal tax returns to help speed potential refunds. Collect all tax-related paperwork Taxpayers should collect all key documents, including Forms W-2 and 1099, as well as any supporting paperwork for tax deductions or credits such as educational credits or mortgage interest payments. Additionally, having […]

Inside This Issue Businesses: Review Employee Retention Credit claims by key March 22 deadline for incorrect credits; take action to avoid future issues Know the facts about receiving Form 1099-K in 2024 IRS improves Where’s My Refund? tool for 2024 What to know before completing a tax return Interest rates remain the same for the second quarter of 2024 Electronically filed returns rejected for missing Form 8962 Taxpayers impacted by […]

Some unscrupulous promoters have marketed misleading information about Employee Retention Credit eligibility rules to well-intentioned businesses. The IRS is highlighting seven suspicious signs and urging business to seek a trusted tax professional to resolve an incorrect claim while they still can without penalties or interest. There’s a deadline of March 22, 2024, for the ERC Voluntary Disclosure Program, which lets businesses who filed a claim in error and received a […]

The IRS Direct File pilot gives people an option they’ve asked for – a way to file their taxes quickly, easily, and for free directly with the IRS. It’s now available for eligible taxpayers in in Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington, and Wyoming.   The Direct File pilot is easy to use and helps eligible taxpayers: File a 2023 federal tax return […]

The IRS urges businesses to review their eligibility for the Employee Retention Credit because there’s limited time for them to voluntarily resolve incorrect claims and avoid future issues, such as penalties and interest. Some honest businesses were misled into filing claims for the Employee Retention Credit by promoters who often misrepresented or oversimplified eligibility rules. Businesses that received the credit but don’t meet the ERC rules should consider applying for […]

WASHINGTON – The Internal Revenue Service renewed calls today for businesses to review their eligibility for the Employee Retention Credit as the agency’s law enforcement arm, Criminal Investigation (CI), begins a series of educational sessions for tax professionals. As part of ongoing IRS efforts around the pandemic-era credit, the agency continues to increase compliance activity to protect against fraud. The IRS also renewed calls for businesses and employers to review […]

WASHINGTON – With tax season rapidly approaching, the IRS reminds employers that Jan. 31 is the deadline for submitting wage statements and forms for independent contractors with the government. Employers must file their copies of Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration by Jan. 31. The Jan. 31 deadline also applies to Forms 1099-MISC, Miscellaneous Income, and […]