Probably the most important rule is: 1) Don’t give out personal information based on an unsolicited email request. Here are a few basic tips to recognize and avoid a phishing e-mail: It contains a link. Scammers often pose as the IRS, financial institutions, credit card companies or even tax companies or software providers. They may claim they need you to update …

Many people rent out a second or vacation home to help offset the costs of ownership. But this enterprise does present special tax considerations. If you rent your vacation home out for fewer than 15 days you do not have to report any of the rental income. This sounds like a good deal and sometimes it is but the downside …

This secure tool, available on IRS.gov allows taxpayers to view their IRS account balance, which will include the amount they owe for tax, penalties and interest. Taxpayers may also continue to take advantage of the various online payment options available by accessing any of the payment features including: direct pay, pay by card and Online Payment Agreement. The new features added include …

This scam is being reported across the country, so taxpayers should be alert to the details. In the latest twist, the scammer claims to be from the IRS and tells the victim about two certified letters purportedly sent to the taxpayer in the mail but returned as undeliverable. The scam artist then threatens arrest if a payment is not made …

  An eligible employer is one with no more than 100 employees. An employer contribution is required. It can be either: A matching contribution up to 3% of compensation (not limited by the annual compensation limit) or a 2% nonelective contribution for each eligible employee. The employer may reduce the 3% limit to a lower percentage, but not lower than …

Before 1986. All tax returns were mailed to the IRS and entered into computers by data transcribers. They had to read tax returns that were many times still handwritten by accountants ( who next to doctors may have the worst handwriting). Next any return that didn’t not meet certain tests were sent to an error correction department. The list of …

Tax Information for Students Who Take a Summer Job Many students take a job in the summer after school lets out. If it’s your first job it gives you a chance to learn about the working world. That includes taxes we pay to support the place where we live, our state and our nation. Here are eight things that students …

With the May 16 filing deadline facing many tax-exempt organizations, the IRS cautioned these groups not to include Social Security numbers (SSNs) or other unneeded personal information on their Forms 990, and consider taking advantage of the speed and convenience of electronic filing. Form 990-series information returns and notices are due on the 15th day of the fifth month after …

Many taxpayers have encountered individuals impersonating IRS officials – in person, over the telephone and via email. Don’t get scammed. We want you to understand how and when the IRS contacts taxpayers and help you determine whether a contact you may have received is truly from an IRS employee. The IRS initiates most contacts through regular mail delivered by the …

Taxpayers who owe tax, and failed to file and pay on time, will most likely owe interest and penalties on the tax they pay late. To keep interest and penalties to a minimum, taxpayers should file their tax return and pay any tax owed as soon as possible. Here are some facts that taxpayers should know: Two penalties may apply. One …