Monthly Newsletter for December 2017

by in Newsletter on Nov. 30, 2017

National Tax Security Awareness Week: Thieves Use W-2 Scam to get Employee Data

The IRS warns the nation’s business, payroll and human resource communities about a growing W-2 email scam. Criminals use this scheme to gain access to W-2 and other sensitive tax information that employers have about their employees.

This tip is part of National Tax Security Awareness Week. The IRS is partnering with state tax agencies, the tax industry and .

Monthly Newsletter for November 2017

by in Newsletter on Nov. 1, 2017

IRS Encourages Taxpayers to Check Their Withholding;

Checking Now Helps Avoid Surprises at Tax Time

 

 

WASHINGTON — As the end of 2017 approaches, the Internal Revenue Service today encouraged taxpayers to consider a tax withholding checkup. Taking a closer look at the taxes being withheld now can help ensure the right amount is withheld, either for tax refund purposes or to avoid an unexpected tax bill next year.

 

The withholding review takes on .

Halloween Update 10-30-17

by in Newsletter on Oct. 30, 2017

How to Know if the Knock on Your Door is Actually Someone from the IRS

October 30, 2017

Every Halloween, children knock on doors pretending they are everything from superheroes to movie stars. Scammers, on the other hand, don’t leave their impersonations to one day. They can happen any time of the year.

People can avoid taking the bait and falling victim to a scam by knowing how and when the IRS .

Monthly Newsletter for October 2016

by in Newsletter on Oct. 2, 2017

IRS Reminds Parents, Students to Explore Education Resources on IRS.gov

WASHINGTON – The Internal Revenue Service today reminded parents and students that there are many tax benefits available to them, and the easiest way to learn more about them is through the education resources available on IRS.gov.

Besides tax credits such as the American Opportunity Tax Credit and the Lifetime Learning Credit, there are other education-related tax benefits that can .

Monthly Newsletter for September 2017

by in Newsletter on Aug. 29, 2017

IRS Issues Urgent Warning to Beware IRS/FBI-Themed Ransomware Scam

WASHINGTON – The Internal Revenue Service today warned people to avoid a new phishing scheme that impersonates the IRS and the FBI as part of a ransomware scam to take computer data hostage.

The scam email uses the emblems of both the IRS and the Federal Bureau of Investigation. It tries to entice users to select a “here” link to download a fake .

Monthly Newsletter for August 2017

by in Newsletter on Jul. 25, 2017

Taxpayers Should Review Their Withholding; Avoid Having Too Much or Too Little Federal Income Tax Withheld

WASHINGTON — The Internal Revenue Service today encouraged taxpayers to consider checking their tax withholding, keeping in mind several factors that could affect potential refunds or taxes they may owe in 2018.

Reviewing the amount of taxes withheld can help taxpayers avoid having too much or too little federal income tax .

Monthly Newsletter for July 2017

by in Newsletter on Jun. 26, 2017

IRS Cautions Taxpayers to Watch for Summertime Scams

WASHINGTON – The Internal Revenue Service today issued a warning that tax-related scams continue across the nation even though the tax filing season has ended for most taxpayers. People should remain on alert to new and emerging schemes involving the tax system that continue to claim victims.

“We continue to urge people to watch out for new and evolving schemes this summer,” said IRS .

Monthly Newsletter for June 2017

by in Newsletter on Jun. 5, 2017

Eight Tips for Deducting Charitable Contributions

 

Charitable contributions made to qualified organizations may help lower your tax bill. The IRS has put together the following eight tips to help ensure your contributions pay off on your tax return.

1. If your goal is a legitimate tax deduction, then you must be giving to a qualified organization. Also, you cannot deduct contributions made to specific individuals, political organizations and candidates. See IRS .

Monthly Newsletter for May 2017

by in Newsletter on May. 1, 2017

Early Withdrawals from Retirement Plans

Many people find it necessary to take out money early from their IRA or retirement plan. Doing so, however, can trigger an additional tax on top of income tax taxpayers may have to pay. Here are a few key points to know about taking an early distribution:

  1. Early Withdrawals. An early withdrawal normally is taking cash out of a retirement plan before the taxpayer is 59½ years .

Monthly Newsletter for March 2017

by in Newsletter on Feb. 28, 2017

Get Credit for Making a Home Energy Efficient

Taxpayers who made certain energy efficient improvements to their home last year may qualify for a tax credit this year. Here are some key facts to know about home energy tax credits:

Non-Business Energy Property Credit

  • Part of this credit is worth 10 percent of the cost of certain qualified energy-saving items added to a taxpayer’s main home last year. Qualified improvements include adding insulation, .