Help with taxes for seniors is now easier than ever with the new Tax Withholding Estimator, launched in August on IRS.gov. It includes user-friendly features to help retirees easily figure out the right amount of tax to be removed from their pension payments. The mobile-friendly estimator replaces the Withholding Calculator. [...]
With major tax reform in its second year and taxpayers seeing its full effect on 2018 returns, the Internal Revenue Service is reminding taxpayers who pay estimated tax their third-quarter payment for 2019 is due Monday, Sept. 16. The Tax Cuts and Jobs Act or TCJA enacted in December 2017, changed [...]
To minimize or prevent disruptions to the supply of fuel for diesel-powered highway vehicles because of Hurricane Dorian, the Internal Revenue Service will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in Florida. This relief is effective immediately, it said in [...]
All work and no play -- with Americans working an average of almost 1,800 hours per year and the average worker using only 54 percent of their available vacation time, the personal-finance website WalletHub released its report on 2019’s Hardest-Working States in America. In order to determine where Americans work [...]
The Internal Revenue Service and its Security Summit partners want to remind tax professionals they should report data theft immediately to the IRS and follow an established process for helping the IRS protect their clients. If notified promptly, the IRS can help stop fraudulent tax returns from being filed in [...]
The Internal Revenue Service launched a new Tax Withholding Estimator, an expanded, mobile-friendly online tool for everyone to have the right amount of tax withheld during the year. The Tax Withholding Estimator replaces the Withholding Calculator, which offered workers a convenient online method for checking withholdings. The newer Tax Withholding [...]
The Internal Revenue Service recently issued a revenue procedure letting a taxpayer make a late election, or to revoke an election, under section 168(k) for certain property acquired by the taxpayer after Sept. 27, 2017, and placed in service by the taxpayer during its taxable year that includes Sept. 28, [...]
Tax professionals who attend the IRS Nationwide Tax Forum in Orlando, Florida, will learn the latest on cybersecurity, ethics, tax law changes for 2019 and more. The forum is being held from Aug. 13-15. Enrolled agents, certified public accountants, certified financial planners, Annual Filing Season Program participants and other tax [...]
If you're a taxpayer, you should know your Taxpayer Bill of Rights. The Taxpayer Bill of Rights is a cornerstone document highlighting the 10 fundamental rights taxpayers have when working with the Internal Revenue Service. The IRS wants every taxpayer to be aware of these rights in the event they [...]
The Internal Revenue Service is reminding veterans who received disability severance payments after 1991 and claimed it as income that time may be running out to claim their refund. Veterans should take action soon if they received a notice (letters 6060-A and 6060-D) and have not already filed Form 1040-X, Amended [...]
