Subject: Extra e-Services Help Available Starting Tomorrow

Additional Staff Available Starting Tomorrow to Revalidate Your Identity; Don’t Delay If you received a Letter 5903, e-Services Revalidation, you must revalidate your identity. For a limited time, the e-Services Help Desk will have additional staff available to only assist tax professionals who need to revalidate their identity to have their e-Services registration account reinstated.. … Continue reading “Subject: Extra e-Services Help Available Starting Tomorrow”

IRS Has a Reminder for Extension Filers: Prior-Year Adjusted Gross Income Amount May Be Needed to File Electronically

WASHINGTON – The Internal Revenue Service has an important reminder for taxpayers who filed for an extension and face an Oct. 17 filing deadline:  the adjusted gross income (AGI) amount from your 2014 return may be needed to electronically file a tax return. The IRS reminds all taxpayers that they should keep a copy of … Continue reading “IRS Has a Reminder for Extension Filers: Prior-Year Adjusted Gross Income Amount May Be Needed to File Electronically”

ACA & Employers: How the Size of Your Workforce Affects Your Responsibilities

Two parts of the Affordable Care Act apply only to applicable large employers. These are the employer shared responsibility provisions and the employer information reporting provisions for offers of minimum essential coverage.   Whether an employer is an ALE is determined each calendar year, and generally depends on the average size of an employer’s workforce … Continue reading “ACA & Employers: How the Size of Your Workforce Affects Your Responsibilities”

TAXES & BANKRUPTCY: SECTION 1398 COLLATERAL ISSUES (third in a series)

Last month we looked at Internal Revenue Code (“IRC”) Section 108(a)(1) and the effect of a bankruptcy discharge on taxable income. This month we will examine collateral tax issues arising from a bankruptcy filing. TAXABLE YEAR IRC Section 1398 lists several rules that are applicable to individual Title 11 bankruptcy cases, including filings under both … Continue reading “TAXES & BANKRUPTCY: SECTION 1398 COLLATERAL ISSUES (third in a series)”

IRS Warns of a New Wave of Attacks Focused on Tax Professionals

The Internal Revenue Service today warned tax professionals of a new wave of attacks that allow identity thieves to file fraudulent tax returns by remotely taking over practitioners’ computers. As part of the Security Summit effort, the IRS urged tax professionals to review their tax preparation software settings and immediately enact all security measures, especially … Continue reading “IRS Warns of a New Wave of Attacks Focused on Tax Professionals”

To Maintain Eligibility for Advance Payments of the Premium Tax Credit, File ASAP

The IRS is sending letters to taxpayers who received advance payments of the premium tax credit in 2015, but who have not yet filed their tax return. You must file a tax return to reconcile any advance credit payments you received in 2015 and to maintain your eligibility for future premium assistance. If you do … Continue reading “To Maintain Eligibility for Advance Payments of the Premium Tax Credit, File ASAP”