IRS Announces Higher Retirement Plan Limits for 2018

Contributing to a retirement plan is one of the best tax shelters available to you during your working years.? Recently, the IRS announced that some of the retirement savings limits will increase for 2018. Employer Sponsored Plans Most working professionals have...

IRS Announces Slightly Lower Mileage Rates for 2017

The IRS announced that the standard mileage rate will decrease to 53.5 cents per business mile driven in 2017.? That is a decrease of approximately 1% from the 54 cents allowed in 2016.? According to the IRS, “The standard mileage rate for business is based on...

IRS Website has Security Breach

The IRS recently announced that hundreds of thousands of taxpayers might be at risk of identity theft in connection with the GetMyTranscript tool offered on the IRS website. ID thieves tried to access copies of people?s tax returns through this feature. The IRS has...

IRS ANNOUNCES ADOPTION OF A TAXPAYER “BILL OF RIGHTS”

From the IRS News, IR-2014-72, June 10, 2014 WASHINGTON ? The Internal Revenue Service announced the adoption of a “Taxpayer Bill of Rights” that will become a cornerstone document to provide the nation’s taxpayers with a better understanding of...

Phone Call Scammers Claiming to be IRS Agents

Yikes!? I got the call. As we wrote in an article from our?May 2014 blog, identity theft in connection with federal tax filings is on the rise.? One specific fraud involves people receiving phone calls from scammers posing as IRS agents and then being aggressively...

IRS Alert of New Email Phishing Scam

From IRS.gov: The IRS has been alerted to a new email phishing scam. The emails appear to be from the IRS and include a link to a bogus web site intended to mirror the official IRS web site. These emails contain the direction ?you are to update your IRS e-file...