After severe thunderstorms and tornadoes raked parts of Tennessee on March 31, many of Volunteer State taxpayers could use a little good news. The Internal Revenue Service is doing its part, announcing tax relief for storm victims.… Read more about Tennessee Storm Victims Have Deadlines Moved to July 31 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service has released its annual Dirty Dozen list of the top scams and schemes posing threats to taxpayers and tax pros, and this year sees some new schemes among the known scams from previous lists.… Read more about 2023 Dirty Dozen Spotlights New Scams, Some Usual Suspects (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Inflation Reduction Act of 2022 (IRA) updated the Clean Vehicle Credit to make US-manufactured electric and fuel cell vehicles more attractive to American car buyers. Since provisions in the legislation changed several qualifying requirements that take effect in 2023, the Internal Revenue Service has been steadily issuing guidance since January.… Read more about IRS Clarifies Mineral, Battery Component Requirements for Clean Vehicle Credit (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The IRS recently published a tax tip explaining Form 1099-K, covering why taxpayers receive it, how to address incorrect forms, and recent updates to reporting rules. This update comes almost three weeks after reports emerged that some taxpayers received incorrect forms.… Read more about IRS Issues Tips for the 1099-K (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Identity theft usually takes center stage during most tax-scam discussions. After all, so much of our personal and professional lives take place online in emails, texts, and direct messages—all of which are ripe targets for phishing attacks. However, not all identity threats are limited to inboxes.… Read more about 2023 Dirty Dozen: Ineligible Employee Retention Credit Claims (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Paper returns have historically been slower to process due to the Internal Revenue Service having to manually transcribe information, leading taxpayers who want to more quickly receive their refund to electronically file. However, there could be a light at the end of the tunnel for those who either prefer or are required to file paper returns.… Read more about IRS Digital Intake Initiative Underway (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…