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News & Press: Federal Tax News

IRS News for Payroll & Human Resources - July 2018

Wednesday, July 18, 2018   (0 Comments)
Posted by: Linda Keast
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Understanding Tax Scams and Abusive Schemes

·         Date: July 19, 2018

·         Free, 60 minutes

·         Register for morning session here:

·         Register for afternoon session here:

(Closed captioning offered for afternoon web conference only.)

Save Webinars for Small Businesses as a favorite.



Tax reform allows people with disabilities to put more money into ABLE accounts, expands eligibility for Saver’s Credit

  • People with disabilities can now put more money into their tax-favored Achieving a Better Life Experience (ABLE) accounts and may, for the first time, qualify for the Saver’s Credit for low- and moderate-income workers.



Do's and Don’ts for Taxpayers Who Get a Letter from the IRS

  • Every year the IRS mails millions of letters to taxpayers for many reasons. Here are some tips and suggestions for taxpayers who receive one:

o    Don’t ignore it.

o    Don’t panic.

o    Do take timely action.

o    Do review the information.

o    Don’t reply unless instructed to do so.

o    Do respond to a disputed notice.

o    Do remember that there is usually no need to call the IRS.

o    Do avoid scams.


What taxpayers should know about tax return copies and transcripts

  •  The IRS recommends that taxpayers keep a copy of tax returns for at least three years. Doing so can help taxpayers prepare future tax returns or even assist with amending a prior year’s return. If a taxpayer is unable to locate copies of previous year tax returns, they should check with their software provider or tax preparer first.
  • Even though taxpayers may have a copy of their tax return, some taxpayers need a transcript. These are often necessary for a mortgage or college financial aid application.

Disaster Resources:

  • After a disaster strikes:

o    Disaster Assistance and Emergency Relief for Individuals and Businesses

o    Tax Resources for Disaster Victims

o    Disaster Assistance Self-Study

The Disaster Assistance Self-Study provides the basic information needed to assist taxpayers in a disaster. It provides the volunteer practitioner disaster representative member with information on distributing Disaster Kits, computing gains/losses as the result of a disaster, information about administrative tax relief and information about the psychological effects of a disaster on its victims.




If / Then Scenarios for Taxpayers Who Get Phished

  • The IRS does not initiate contact with taxpayers by email or text messages to request personal or financial information. This includes requests for PIN numbers, passwords or similar information for credit cards, banks and other financial accounts.
  • This is important for everyone to remember because thieves often pose as the IRS to get taxpayers to turn over personal information in a scam called phishing. Phishing is typically carried out through unsolicited emails or websites.






From the SBA in ND: Profiting from Tax Compliance

  • Small businesses spend more than 5.5 billion hours fulfilling their income tax obligations.
  • You have spent your hard-earned dollars and time assembling the paperwork and filing out the forms. What are you doing with the information? Do you stick it in a file drawer and hope that you do not have to pull it out in response to an audit a few years into the future? Or do you use the information it contains to increase the efficiency and profitability of your business?




Want to see if the letter your client got is really from the IRS? Many (but not all) IRS letters and notices listed here.

If you're an individual taxpayer, you can use this tool to view:

o    Your payoff amount, updated for the current calendar day

o    The balance for each tax year for which you owe

o    Up to 18 months of your payment history

o    Key information from your current tax year return as originally filed.

We send out emails each time there’s a new tax scam. It gets confusing to remember all of them. You don’t have to! This page lists ALL scams targeting taxpayers, tax professionals and others


Loads of info here, including:

o   Employer ID Numbers (EINs) and

o   Publication 1635, Understanding Your EIN

o   IRS Identity Theft Victim Assistance: How It Works

o   Data Breach: Tax-Related Information for Taxpayers

§  Not every data breach results in identity theft, and not every identity theft is tax-related identity theft.

o   Identity Protection PIN (IP PIN)


Federal Trade Commission:

more Calendar

Clackamas Chapter Education: Timber Tax (2 hrs CE)

Westside Chapter - Tax Roundtable

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