IRS Highlights New Business Tax Account Features, FS-2024-27
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS has issued a warning to taxpayers, advising them to be cautious of fraudulent solicitors who pretend to represent genuine charities. These deceptive charities divert donations away from the intended beneficiaries, and donors are unable to claim tax deductions for their contributions on their returns. The IRS has recommended using the Tax-Exempt Organization Search (TEOS) tool for contributions.
With the TEOS, taxpayers can:
Additionally, the IRS has urged taxpayers to report fake or suspicious charities to the FBI’sCharity and Disaster Fraud resources. Further, the IRS has suggested taxpayers to watch out for fake charities using deceptive methods like email, bogus websites, and caller ID spoofing to mimic legitimate donation requests. Some tips for protection are:
Finally, taxpayers who donate money or goods to a charity can qualify for a deduction when itemizing, provided it’s a recognized IRS tax-exempt organization.
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]
Read MoreThe IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]
Read MoreThe IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]
Read MoreThe IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]
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