NTA Blog: Do You Need to Electronically Sign a Tax Form That Cannot Be E-Filed? Make it Digital.
For the more than 40 forms that cannot be e-filed, the IRS permits paper filing of those forms with an electronic or digital signature through a temporary policy through October 31, 2023. While the IRS makes no distinction between electronic and digital signatures, taxpayers who choose to paper file should carefully consider the differences...
NTA Blog: Some Taxpayers Will Automatically Have Their Accounts Excluded
Since 2018, TAS has been urging the IRS to stop assigning to private collection agencies (PCAs) the accounts of taxpayers who receive Supplemental Security Income (SSI) or Social Security Disability Income (SSDI). In 2019, Congress passed the Taxpayer First Act (TFA), which required the IRS to exclude these accounts.
NTA Blog: Apply for a rewarding career with Taxpayer Advocate Service.
After several decades of working in the tax controversy arena, both in the private sector and with the Office of Chief Counsel, I am amazed at how many people have never heard of or availed themselves of the benefits that the Taxpayer Advocate Service (TAS) provides for taxpayers.
JUN 2022: Deducting The Costs Of A Self-managed Portfolio
Do you have significant investment-related expenses, including payment for financial service subscriptions, home office maintenance and clerical support? Under the 2017 Tax Cuts and Jobs Act, these expenses aren’t deductible if they’re considered investment expenses to produce income.
MAY 2022: Hiring Your Minor Children For Summer Jobs
If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money.
APR 2022: Could You Be Hit With The Trust Fund Recovery Penalty?
Unexpected disasters can happen anywhere, causing damage to your home and personal property. Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could claim a deduction on their tax returns. But restrictions make it tougher to qualify for these deductions.
MAR 2022: Slim Your 2021 Tax Bill By Fattening Your IRA
Many businesses need to invest in heavy sport utility vehicles (SUVs) to transport equipment and provide timely services. Fortunately, they may be able to claim valuable tax deductions for the purchases. If you’re thinking about buying one (or if your bought one in 2021), brush up on the tax rules.
NTA Blog: An Overloaded IRS Stops Certain Automated Notices
NTA Blog: An Overloaded IRS Stops Certain Automated Notices, But Taxpayers Still Need to File Federal Tax Returns and Pay Outstanding Taxes
IRS Statement: assistance to taxpayers in the current environment
In case you missed it, the IRS issued a statement on January 27, 2022 which discusses ‘ongoing efforts during the pandemic’ and outlines how it will be ‘implementing additional ways to help avoid confusion and provide important, meaningful relief’.
