An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship. We consider your unique set of facts and circumstances: Ability to pay;Income;Expenses; andAsset equity. We…
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Virtual currency: IRS issues additional guidance on tax treatment and reminds taxpayers of reporting obligations
IR-2019-167, October 9, 2019 WASHINGTON — As part of a wider effort to assist taxpayers and to enforce the tax laws in a rapidly changing area, the Internal Revenue Service today issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency. Expanding on guidance from 2014, the IRS is issuing…
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#IRS extension
If you didn’t request an #IRS extension and have yet to file a 2018 tax return, you may avoid additional penalties and interest by filing as soon as possible and paying any taxes owed. https://go.usa.gov/xVFD2
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Report Phishing and Online Scams
The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. This includes requests for PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts.Use tab to go to the next focusable element What is phishing? What to do if you receive…
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Tax Scams/Consumer Alerts
Thousands of people have lost millions of dollars and their personal information to tax scams. Scammers use the regular mail, telephone, or email to set up individuals, businesses, payroll and tax professionals. The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. Recognize the telltale signs of a scam.…
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