IRS to revoke passports for individuals with significant tax debts
The Internal Revenue Service today urged taxpayers to resolve their significant tax debts to avoid putting their passports in jeopardy. They should contact the IRS now to avoid delays in their travel plans later. Under the Fixing America’s Surface Transportation (FAST) Act, the IRS notifies
Read MoreTruckers should e-file highway use tax return by September 3
The Internal Revenue Service today issued a reminder for owners of most heavy highway vehicles that the time to file Form 2290, Heavy Highway Vehicle Use Tax Return, began July 1, 2019. The highway use tax applies to highway motor vehicles with a taxable gross
Read MoreIRS Sending Warning Letters to More Than 10,000 Cryptocurrency Holders
The Internal Revenue Service has begun sending letters to more than 10,000 cryptocurrency holders, warning they may have broken federal tax laws. According to the Wall Street Journal, the agency wasn’t specific about the possible violations it was reviewing, but those who hold digital currencies
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Read MoreRushing to file taxes can result in errors
File an Extension if Needed! As the April tax-filing deadline nears, many taxpayers may rush to finish their tax returns or find they need extra time to get them done. The IRS recommends that taxpayers file for an extension if they need one. Filing an extension will
Read MoreTax Reform 2018 Explained
Starting with Tax Year 2018 (Jan.-Dec. 2018), tax forms and schedules are changing due to Tax Reform. Tax Forms as we know them are being cut off and split up in schedules. The House (again) approved the final version of the most sweeping rewrite of
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