Feds Issue Targeted Order To Check Cashing Businesses In Effort To Stop Tax Fraud

Tax fraud linked to identity theft is costing taxpayers plenty. Even as the Internal Revenue Service (IRS) scrambles to try and contain it, the headlines were filled with stories earlier this year about taxpayer information which was stolen and used to file bogus tax returns claiming millions in fake income tax refunds. The epicenter of … Read more

IRS Issues Reminder As Taxpayers Near Deadline To Report Foreign Accounts, Assets

Two weeks. That’s all the time that you have left to comply with the mandatory reporting accounts for foreign accounts for the calendar year 2014. The deadline for filing your FBAR, or federal form 114, Report of Foreign Bank and Financial Accounts, is June 30. There are no extensions. You don’t file an FBAR with … Read more

IRS Announces New Steps To Protect Taxpayers From Identity Theft Tax Fraud

Internal Revenue Service (IRS) Commissioner John Koskinen, leading tax partners and state tax administrators have announced new steps to protect taxpayers from identity theft tax fraud, including a new collaborative effort between public and private sectors to protect taxpayers and their tax returns. The announcement was made at a press conference held earlier today, just … Read more

IRS, TIGTA Talk Tech, Identity Theft & Security At Congressional Hearing

Internal Revenue Service (IRS) Commissioner John Koskinen was back on the Hill this week, together with J. Russell George, The Treasury Inspector General for Tax Administration (TIGTA), to testify before members of Congress. This time, both were asked about the unauthorized access to the “Get Transcript” application on the IRS web site. The hearing was … Read more

IRS Changes Position On Identity Theft, Will Provide Copies Of Returns To Victims

You have a right to know what thieves are doing with your information. That’s the surprising word out of the Internal Revenue Service (IRS) this week. In a clear change in policy, IRS has agreed to provide victims of identity theft with copies of the fraudulent tax returns filed using their personal and financial information. … Read more

IRS Issues Statement On Unauthorized Access Of Taxpayer Transcripts

The Internal Revenue Service has issued a statement regarding the unauthorized access of taxpayer information using the “Get Transcript” application. Follows is the statement in full: The IRS announced today that criminals used taxpayer-specific data acquired from non-IRS sources to gain unauthorized access to information on approximately 100,000 tax accounts through IRS’ “Get Transcript” application. … Read more

IRS Says Identity Thieves Accessed Tax Transcripts For More Than 100,000 Taxpayers

The Internal Revenue Service (IRS) announced today that identity thieves have illegally accessed tax information for more than 100,000 taxpayers with unsuccessful attempts made on approximately 100,000 additional taxpayer accounts. IRS Commissioner John Koskinen delivered the news at a hastily arranged press conference this afternoon. The urgency, he indicated, was to alert taxpayers to the … Read more

IRS Announces Tax Forums, CPE Credits For Tax Pros

Looking for Continuing Professional Education (CPE) credits? The Internal Revenue Service (IRS) has announced details of the 2015 IRS Nationwide Tax Forums. The forums last three days and over that time, there will be more than 40 seminars and workshops. Those seminars and workshops will provide up to 18 CPE credits for enrolled agents, certified … Read more

Fixing Your Mistakes: Filing An Amended Return

Tax Day was just over a month ago which, of course, means that my inbox is now filled with the inevitable panicked emails from taxpayers worried about mistakes. Missed forms 1099. Overlooked deductions. Social Security numbers that aren’t quite right. Here’s what you need to know: mistakes are totally fixable. There are two ways to … Read more