Tag Archives: IRS Tax Tip

Tax Time Tips from the IRS

Tax Time! IRS has issued a Tax Tip (Issue Number: Tax Tip 2018-56), here it is…

The tax filing deadline is Tuesday, April 17 this year. This is because April 15 falls on a weekend and the following Monday is a holiday in the District of Columbia. Even with an extra two days, the IRS urges taxpayers to avoid waiting until the last minute to file their taxes.

For those who have yet to file, the IRS has five quick ideas to help:

1. Gather Records. Good recordkeeping is important. It helps to ensure that nothing gets overlooked. Records such as receipts and cancelled checks also provide expense documentation.

2. Use IRS Online Tools. The IRS has many useful online tools, including the Interactive Tax Assistant, which provides answers to many tax questions. It gives the same answers that an IRS representative would give over the phone. Continue reading

Members of the Military and their Families Can Get Free Tax Assistance 2018

IRS in its recent tax tip issue (Issue Number: IRS Tax Tip 2018-51) highlighted how the Members of the Military and their Families can get free tax assistance. Here we go…

The IRS offers free tax help to members of the military and their families through the Volunteer Income Tax Assistance program. A VITA site is easy to find on or off base — even overseas.

The Armed Forces Tax Council directs the military tax programs worldwide. Military VITA-certified employees receive training on military tax issues, including tax benefits for service in a combat zone. They can help with special extensionsof time to file tax returns and pay taxes, or with special rules that apply to the Earned Income Tax Credit. Continue reading

Security Summit urges tax pros to protect their identification numbers: EFINs, PTINs and CAF numbers

IRS has urged every tax pros to protect their identity numbers through the latest issue, Issue Number: IR-2018-61. Here is the complete coverage of the issue for you to read.

WASHINGTON – The Internal Revenue Service, state tax agencies and the tax industry today urged tax practitioners to maintain and monitor their Electronic Filing Identification Numbers (EFINs) and Centralized Authorization File (CAF) numbers to help safeguard taxpayer data.

Cybercriminals sometimes post stolen EFINs, PTINs and CAF numbers on the Dark Web as a crime kit for identity thieves who can then file fraudulent tax returns. EFINs are necessary for tax professionals or their firms to file client returns electronically. Preparer Tax Identification Numbers (PTINs) are issued to those who, for a fee, prepare tax returns or claims for refund. CAF numbers are issued when tax practitioners or their firms file a request for third-party access to client files.

To assist tax professionals, the IRS created a new video and web page – How to Maintain, Monitor and Protect Your EFIN. These offer tips to practitioners.

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