April 12, 2024

Dirty Dozen: Bogus tax avoidance strategies, schemes with an international element wrap up annual taxpayer awareness campaign

The Internal Revenue Service wraps up the 2024 Dirty Dozen campaign with a warning to taxpayers regarding promoters selling bogus tax strategies and fraudulent offshore schemes designed to […]
April 11, 2024

Dirty Dozen: High-income filers vulnerable to illegal tax schemes; face risk from improper art donation deductions, charitable remainder annuity trusts, monetized installment sales

As part of the Dirty Dozen campaign, the Internal Revenue Service warned wealthy individuals about three tax traps designed for them by dishonest promoters and shady tax practitioners. […]
April 9, 2024

Dirty Dozen: IRS urges taxpayers to not fall prey to untrustworthy tax preparers; “ghost preparers” can disappear with taxpayer cash, information

In day seven of the Dirty Dozen tax scam series, the Internal Revenue Service and Security Summit partners today alerted taxpayers to be on the lookout for unscrupulous tax preparers […]
April 8, 2024

Dirty Dozen: Taking tax advice on social media can be bad news for taxpayers; inaccurate or misleading tax information circulating

On day eight of the Dirty Dozen tax scam series, the Internal Revenue Service today warned about bad tax information on social media that can lure honest taxpayers […]
March 28, 2024

What taxpayers need to know about digital asset reporting and tax requirements

Taxpayers filing 2023 tax returns must check a box indicating whether they received digital assets as a reward, award or payment for property or services or […]
March 26, 2024

Time running out to claim $1 billion in refunds for tax year 2020, taxpayers face May 17 deadline

The Internal Revenue Service announced today that almost 940,000 people across the nation have unclaimed refunds for tax year 2020 but face a May 17 deadline […]
March 25, 2024

IRS reminder to U.S. taxpayers living, working abroad: File 2023 tax return by June 17; those impacted by terrorist attacks in Israel have until Oct. 7

The Internal Revenue Service reminds taxpayers living and working outside the U.S. to file their 2023 federal income tax return by Monday, June 17, 2024. This […]
March 22, 2024

Avoid tax return mistakes, reduce processing delays and refund adjustments by following these guidelines

As the April 15 filing deadline approaches, the Internal Revenue Service issued a reminder to taxpayers on ways to prevent typical errors on their federal tax […]
March 21, 2024

Seven warning signs of incorrect Employee Retention Credit claims for businesses to review as key March 22 deadline approaches

To counter promoters that marketed misleading information about the Employee Retention Credit (ERC), the Internal Revenue Service urged businesses to review seven suspicious signs of a bad […]