The IRS and Treasury Department announced additional details of tax credits available under the American Rescue Plan Act of 2021 (ARPA) (P.L. 117-2) to help small businesses. In a fact sheet released today, the IRS outlines basic facts regarding the employers eligible for the tax credits. It...
Secretary Mnuchin has announced that David J. Kautter, Treasury’s Assistant Secretary for Tax Policy, will serve as Acting IRS Commissioner when my term ends next month. As Treasury’s top tax official, Kautter oversees development and implementation of tax policies and programs as well as...
Avoid Identity Theft, Learn How to Recognize Phishing Scams Simply ask for it. That’s the easiest way for an identity thief to steal your personal information. Each day, people fall victim to phishing scams through emails, texts or phone calls and mistakenly turn over important...
The IRS yesterday issued a news release alerting tax professionals to a new tax scam involving fake emails purporting to be from tax software providers. The IRS said that in the new scheme, which was identified as part of the IRS Security Summit process, tax professionals are receiving...
The Internal Revenue Service today announced important changes to help taxpayers comply with revisions to the Individual Taxpayer Identification Number (ITIN) program made under a new law, which implements provisions of the December 2015 PATH Act. The changes require some taxpayers to renew...
Many students get summer jobs. It’s a great way to earn extra spending money or to save for later. Here are some tips for students with summer jobs: 1. Withholding and Estimated Tax. If you are an employee, your employer normally withholds tax from your paychecks. If you are self-employed...
The Internal Revenue Service has issued a consumer alert about possible fake charity scams emerging due to last weekend’s mass-shooting in Orlando, Fla., and encourages taxpayers to seek out recognized charitable groups. When making donations to assist victims of last weekend’s terrible...
The Internal Revenue Service just announced that the publicly available data on electronically filed Forms 990 will now be available for the first time in a machine-readable format through Amazon Web Services (AWS) . The publicly available data does not include donor information or other...
With the assistance of top digital experts at U.S. Digital Service and other security authorities, the Internal Revenue Service has launched a more rigorous e-authentication process for taxpayers that will significantly increase protection against identity thieves impersonating taxpayers to...
If you are a small employer, there is a tax credit that can put money in your pocket. The small business health care tax credit benefits employers that: offer coverage through the small business health options program, also known as the SHOP marketplace have fewer than 25 full...
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