by Bill Fritton | Mar 23, 2020 | News
Because of the ongoing financial turmoil, the IRS is cutting some slack to a great many individuals and businesses. They now have until July 15 to pay any federal income taxes they owe. The delay is available to individuals who owe $1 million or less and corporations... by Bill Fritton | Feb 21, 2020 | IRS, News
Revenue officers from the Internal Revenue Service are fanning out across the country to tell wealthy taxpayers who haven’t filed taxes in at least a year that they need to pay up, the federal tax collector said this week. The in-person visits will target taxpayers... by Bill Fritton | Aug 12, 2019 | IRS, News
The Taxpayer First Act of 2019 is redesigning how the IRS works with taxpayers, even though it may take a while for many of the provisions to take effect. Some experts have highlighted the following aspects of the bill as especially important: An independent appeals... by Bill Fritton | Mar 26, 2019 | News
As far as federal income taxes go, it’s usually “until death do us part” for joint filers, but a recent Tax Court case ruled otherwise. There are times when the tax law provides a way out for one spouse or the other, as in Brooks, TC Memo 2019-5, 3/18/19, where a... by Bill Fritton | Mar 4, 2019 | IRS, News
The Internal Revenue Service today reiterated its warning that taxpayers may not be able to renew a current passport or obtain a new passport if they owe federal taxes. To avoid delays in travel plans, taxpayers need to take prompt action to resolve their tax issues.... by Bill Fritton | Jan 17, 2019 | IRS, News
WASHINGTON — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS is generally...
