IRS
3 Smart Ways To Use Income Tax Refunds
The average tax refund in 2015 was approximately $2,800 according to the IRS, and similar refunds are expected in 2016. For those getting a refund, there are many options to consider for what to do with this unexpected income.
Tax Scammers Phishing Attempts Getting More Bold
Amazingly, the IRS has seen an increase close to 400 percent in phishing and malware incidents so far this tax season.
IRS Warns Of New Tax Scams
The latest variation being seen in the last few weeks tries to play off the current tax season. Scam artists call saying they have your tax return, and they just need to verify a few details to process your return. The scam tries to get you to give up ...
4 Steps for Small Businesses to Prepare for Tax Season
Preparing to file taxes can sometimes be a year-round job, even for small businesses. It may involve different responsibilities, including estimating tax payments, planning to buy or lease capital equipment, developing retirement-saving strategies, etc.
IRS Increases Interest Rates for 2nd Quarter 2016
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
IRS Returns Seized Cash to Convenience Store Owner
The IRS seized more than $150,00 from a convenience store owner’s bank account in 2014 – virtually all the money he had in the world – even though he did absolutely nothing wrong. It has taken the taxpayer nearly two years to get the money bank and ...
Tax Reform Takes Center Stage in 2016
The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) may be the last significant tax bill of the Obama administration. With the 2016 presidential election looming, tax directors are closely watching how America’s choice will impact the tax ...
IRS Is Holding Almost $1 Billion in 2012 Tax Refunds
In cases where a tax return was not filed, the tax law provides most taxpayers with a three-year window of opportunity for claiming a refund. However, if no return is fled in time, the money becomes the property of Uncle Sam. For 2012 tax returns, the ...