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IRS Problem Solvers Blog

Top IRS Challenges For Taxpayers in 2020

From refund delays and aging technology to confusing audit letters, here are the top 10 challenges filers face this year, according to the report: 1. Customer service The IRS received roughly 100 million telephone calls in fiscal-year 2019, and customer service representatives answered just 29% of them, the report said. The solution? Congress needs to provide the necessary funding to the IRS for adequate staffing and a...

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Don’t Be Duped By Clever Scammers

Article Highlights: Scammers disguise e-mails to look legitimate. Legitimate businesses and the IRS never request sensitive personal and financial information by e-mail. Don’t become a victim. Stop – Think – Delete Be alert for phony letters and phone calls You may think we harp on you a lot about protecting yourself against identity theft and tax scams. You are right… but we do it because having your...

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New IRS Rule Will Help Lower Drug Costs

Life may get a bit easier for millions of Americans with chronic medical conditions who struggle to pay for their medical care. The IRS recently released formal guidance that allows insurers who sponsor high-deductible health plans (HDHPs) linked to health savings accounts (HSAs) to cover 14 essential services used to treat chronic diseases like diabetes and asthma before patients hit their deductibles....

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Key Lessons in IRS Response to Not Filing Your Taxes

Some people are late, and some seem to fall off the grid, with many years of failures. But the IRS usually catches up. At that point, taxes, interest and penalties can be crushing, and it can even mean jail in some cases. Once you fall behind, in filing returns, payments, or both, it can be tough to face the financial and other impediments to getting back on track. And it can seem like the IRS rules are stacked against...

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National Tax Security Awareness Week Begins

IR-2019-192, December 2, 2019 WASHINGTON — The Internal Revenue Service and the Security Summit partners opened this year’s National Tax Security Awareness Week with a warning for holiday shoppers on Cyber Monday to secure their computers and mobile phones to reduce the threat of identity theft. During the holiday season, criminals take advantage of large numbers of people shopping online to steal identities...

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IRS Encourages Taxpayers to be ready for Tax Filing Season

Get Ready for Taxes:  Get ready today to file 2019 federal income tax returns The Internal Revenue Service today urged taxpayers to act now to avoid a tax-time surprise and ensure smooth processing of their 2019 federal tax return. This is the first in a series of reminders to help taxpayers get ready for the upcoming tax filing season.  To that end, a special page, newly updated and available on IRS.gov, outlines...

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The IRS Is Hot on the Trail of Unreported Virtual Currency Transactions

Article Highlights: Coinbase Disclosure IRS Compliance Letters New 1040 Question Reporting under Penalty of Perjury Treated as Property Employee Payments Independent Contractor Income Information Reporting New IRS Guidance Back in 2018, Coinbase, a company handling virtual currency (also referred to as cryptocurrency) transactions, released the data of 14,000 of its users to the IRS after the information was...

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3 Common Personal Income Tax Problems & How to Respond

Tax problems aren’t just a worry that hang over people’s heads from January through April every year. Many of them go far beyond the numbers that you report, and they can require additional evidence that your bank statements and paychecks can’t provide. Additionally, the IRS isn’t the only source of those problems: state tax authorities are hungry for revenue, and if you divide your time among...

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Crowdfunding Can Have Unexpected Consequences

Gifts Charitable Gifts Business Ventures SEC Registration Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site specifies its own charges, limitations, and withdrawal processes. Whether the money raised is taxable depends upon the...

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Taxpayers Should Beware of Property Lien Scam

With scam artists hard at work all year, taxpayers should watch for new versions of tax-related scams. One such scam involves fake property liens. It threatens taxpayers with a tax bill from a fictional government agency. Here are some details about the property lien scam that will help taxpayers recognize it: This scheme involves a letter threatening an IRS lien or levy. The scammer mails the letter to a taxpayer. The...

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