This time of year, Black Friday and Cyber Monday are in serious competition for retail shoppers. In the past, Cyber Monday has had one distinct advantage over Black Friday: a lower tax bill. Cyber Monday shoppers could often take advantage of a final bill that did not include state sales taxes.
The Internal Revenue Service’s (IRS) General Crimes Unit recently conducted an investigation of a tax preparation professional accused of using her client’s information to perpetuate a fraudulent tax scheme. The agency accused the tax professional of filing false tax returns and stealing the identities of former clients for her own financial gain. The prosecution claimed she stole "tens of thousands of dollars" by filing returns that should have belonged to former clients.
The Internal Revenue Service (IRS) has released another publication calling taxpayers to review their withholding status. The tip is a good one for taxpayers throughout the country. A failure to properly adjust one’s withholding status can result in a big tax surprise when filing one’s 2018 tax returns.
Getting audited by the Internal Revenue Service (IRS)? You likely have a number of questions. The first may be along the lines of: is this for real? If you got a phone call stating you are getting an audit, it may be a scam. If, however, you received a letter from the IRS stating the agency is going to review your tax filings, the correspondence is likely legit.
The Internal Revenue Service (IRS) recently reminded tax preparation professionals to renew their Preparer Tax Identification Numbers (PTINs) for 2019. The IRS states current PTINs expire on December 31, 2018.