The IRS Issues a 50% Penalty for Failing to Make Required Retirement Withdrawals.
Over the years, millions of Americans had small amounts of money taken out of their paychecks before taxes were collected and put into retirement plans. The Internal Revenue Service is reminding these taxpayers, who are either already retired or getting ready to retire, that they have to take money out of their retirement accounts.The IRS […]
New IRS Rule Concerning Payments Via Venmo, Cash App & PayPal May Affect Millions.
Taxpayers may be “shocked” by the lower bar for reporting Venmo, Cash App & PayPal revenues. Online earners in the United States may be in for a harsh surprise when they submit their taxes in 2023. This is due to the fact that starting in 2018, taxpayers will have to report to the IRS any […]
IRS reports significant increase in texting scams; warns taxpayers to remain vigilant
The Internal Revenue Service today warned taxpayers of a recent increase in IRS-themed texting scams aimed at stealing personal and financial information.
IRS: Taxpayers now have more options to correct, and amend returns electronically
Taxpayers can now amend forms electronically IR-2022-130, June 23, 2022 WASHINGTON — The Internal Revenue Service announced today that more forms can now be amended electronically. Taxpayers can amend forms electronically. These include people filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the […]
Dirty Dozen: Scammers use every trick in their communication arsenal to steal your identity, personal financial information, money, and more
IR-2022-121, June 8, 2022 WASHINGTON — Suspicious communications in all its forms designed to either trick, surprise or scare someone into responding before thinking is No. 7 on the 2022 “Dirty Dozen” scams warning list, the Internal Revenue Service announced today, warning everyone to be on the lookout for bogus calls, texts, emails, and posts online to […]