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πˆπ‘π’ πˆπŒππ„π‘π’πŽππ€π“πˆπŽπ π„πŒπ€πˆπ‹ π’π‚π€πŒ (πŸ–/πŸπŸ”/πŸπŸŽπŸπŸ—)

The IRS warns us all about a new IRS impersonation email scam. It also reminds us that the IRS does not send unsolicited emails and never emails taxpayers about the status of refunds. The scam email’s subject line may vary, but recent examples use the phrase β€œAutomatic Income Tax Reminder” or β€œElectronic Tax Return Reminder.” […]

π€π”π“πŽπŒπ€π“πˆπ‚ π–π€πˆπ•π„π‘ 𝐨𝐟 πŸπŸŽπŸπŸ– π„π’π“πˆπŒπ€π“π„πƒ 𝐓𝐀𝐗 ππ„ππ€π‹π“π˜ (πŸ–/𝟐𝟏/πŸπŸŽπŸπŸ—)

The IRS is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver. The IRS will apply this waiver to tax accounts of all eligible taxpayers, so there is no need to contact the IRS to apply […]

𝐃𝐍𝐀 𝐓𝐄𝐒𝐓 ππ€π‘π“πˆπ€π‹π‹π˜ πƒπ„πƒπ”π‚π“πˆππ‹π„ (πŸ–/πŸπŸ—/πŸπŸŽπŸπŸ—)

The IRS has ruled that a portion of the cost associated with a DNA test is a deductible medical expense or eligible for a healthcare flexible spending account (FSA). Because ancestry services, a non-medical service, must be purchased with health services the price of the DNA collection kit must be allocated between the ancestry services […]

𝐒𝐏𝐄𝐀𝐑 ππ‡πˆπ’π‡πˆππ† 𝐃𝐀𝐍𝐆𝐄𝐑 (πŸ–/πŸπŸ‘/πŸπŸŽπŸπŸ—)

The IRS, states and tax industry partners warn tax professionals to beware of phishing emails. With a phishing email, an employee opens a link that takes them to a fake site or opens an attachment that is embedded with malware that secretly downloads onto their computers. Tax professionals are targeted with a tactic called spear […]

π€π†π€πˆπ 𝐰𝐒𝐭𝐑 𝐭𝐑𝐞 π–πˆπ“π‡π‡πŽπ‹πƒπˆππ† π‚π€π‹π‚π”π‹π€π“πˆπŽπ ? ! (πŸ–/πŸ–/πŸπŸŽπŸπŸ—)

The IRS has replaced last year’s Withholding Calculator with a Tax Withholding Estimator. Last year’s Withholding Calculator resulted in a reduction of refunds and the amount of refunds. And that’s never fully been explained. If taxes were reduced and people didn’t adjust their withholdings, their taxes should have gone down and refunds gone up. Similarly, […]

𝐇𝐄𝐋𝐏 𝐟𝐨𝐫 π’πŒπ€π‹π‹ ππ”π’πˆππ„π’π’ π‘π„π“πˆπ‘π„πŒπ„ππ“ 𝐏𝐋𝐀𝐍𝐒 (πŸ–/πŸ”/πŸπŸŽπŸπŸ—)

A new rule from the Department of Labor has made it easier for small businesses to offer retirement savings plans to their workers through Association Retirement Plans (ARPs). This allows small businesses to band together to offer retirement plans to their employees. Under the rule, ARPs could be offered by associations of employers in a […]