When business owners put together an emergency preparedness plan, it should include copies of vital records and financial information. Here are some things everyone can do to help protect their financial records. Update emergency preparedness plan annually Personal and business situations are constantly evolving, so taxpayers should review their emergency preparedness plan annually. Ready.gov has resources…
Read More...IRS reminder: Protect important records in case a natural disaster strikes
WASHINGTON — The Internal Revenue Service reminds taxpayers that disaster preparation season kicks off soon with National Wildfire Awareness Month in May and National Hurricane Preparedness Week, May 4-10. With tax season over and peak periods for disasters approaching, now is a good time for taxpayers to think about protecting important tax and financial information…
Read More...Dirty Dozen tax scams for 2025: IRS warns taxpayers to watch out for dangerous threats Part 2
Credits for Sick Leave and Family Leave: This specialized credit is available for self-employed individuals for 2020 and 2021 during the pandemic; the credit is not available for later tax years. The IRS is seeing repeated instances where taxpayers are using Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals, to incorrectly claim…
Read More...Dirty Dozen tax scams for 2025: IRS warns taxpayers to watch out for dangerous threats Part 1
WASHINGTON — The Internal Revenue Service today announced its annual Dirty Dozen list of tax scams for 2025 with a warning for taxpayers, businesses and tax professionals to watch out for common schemes that threaten their tax and financial information. Ranging from email schemes to misleading tax credits, many of the Dirty Dozen items peak during filing…
Read More...Tax Time Guide: Use ‘Where’s My Refund?’ tool to track refund status
WASHINGTON — As millions of people file their 2024 tax returns, the Internal Revenue Service today reminded taxpayers to use the “Where’s My Refund?” tool on IRS.gov to confirm receipt of their return and track a refund. Taxpayers who file electronically can typically use the “Where’s My Refund?” tool to check the status of a tax refund within 24…
Read More...How to Find Any Lost 401(k)
Do you have a missing 401(k)? It’s more common than you might think. One U.S. Labor Department study suggests that people will have worked a dozen jobs by their mid-40s, with most of those barely lasting a few years. While you have a few options for handling an old 401(k), some strategies are better than others. The…
Read More...Gig Economy Workers May Be in for a Rude Surprise This Tax Season
Despite IRS delays in implementing lower thresholds for the issuance of 1099-K forms, most gig workers are unaware of the changed rules — meaning they’re in for a surprise this tax season. In a January survey by Avalara, a tax compliance software company, 73% of gig workers said they did not know about the new $5,000…
Read More...How taxpayers can protect themselves from gift card scams
Taxpayers should be aware of gift card scams and take steps to protect themselves. Scammers may target taxpayers by asking them to pay a fake tax bill with gift cards. People should remember that the IRS never asks for or accepts gift cards as payment for a tax bill. The IRS doesn’t initiate contact with taxpayers by email,…
Read More...Get ready for tax filing season 2025
As tax filing season approaches, the IRS Get Ready campaign reminds taxpayers of simple steps they can take now to get ready to file their 2024 federal tax returns. As the IRS continues its digital transformation, it’s making filing easier for taxpayers by providing new online tools as well as expanding and updating other digital tools.…
Read More...National Tax Security Awareness Week, Day 3: Guard against fraudsters with an IRS Identity Protection PIN
National Tax Security Awareness Week, Day 3: Guard against fraudsters with an IRS Identity Protection PIN WASHINGTON — The Internal Revenue Service and the Security Summit partners today encouraged taxpayers to add an extra layer of protection between their tax returns and identity thieves by joining the Identity Protection Personal Identification Number (IP PIN) program at the start of…
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