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IRS: Don’t be victim to “ghost” tax return preparers

WASHINGTON — With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical "ghost" tax return preparers. According to the IRS, a ghost preparer does not sign a tax return they…
wxc corporation miami
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IRS kicks off 2020 tax filing season with returns due April 15

WASHINGTON ― The Internal Revenue Service successfully opened the 2020 tax filing season today as the agency begins accepting and processing federal tax returns for tax year 2019. The deadline to file a 2019 tax return and pay any tax owed…
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Jan. 31 filing deadline to file independent contractor forms

WASHINGTON — With just a few days remaining until the deadline, the Internal Revenue Service reminds employers and other businesses that January 31 is the filing deadline for submitting wage statements and forms for independent contractors…
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IRS: Make a tax payment now, avoid a tax-time surprise

WASHINGTON —Taxpayers who paid too little tax during 2019 can still avoid a tax-time surprise by making a quarterly estimated tax payment now, directly to the Internal Revenue Service. The deadline for making a payment for the…
WXC Corporation
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Get Ready for Taxes: What to do before the tax year ends December 31

WASHINGTON — The Internal Revenue Service reminds taxpayers there are things they should do now to get ready for the tax-filing season ahead. Charitable Contributions For most taxpayers, December 31 is the last day to take actions that will…
401(k)
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401(k) contribution limit increases to $19,500 for 2020

WASHINGTON — The Internal Revenue Service today announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. The IRS announced this and other changes in Notice 2019-59 (PDF), posted today on IRS.gov. This…
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IRS provides tax inflation adjustments for tax year 2020

WASHINGTON — The Internal Revenue Service today announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 (PDF) provides details…
get ready for taxes
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Get Ready for Taxes: Important things to know about tax credits

WASHINGTON – With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits. This is the second in a series of reminders to help…
tax exclusion
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New final regulations about estate tax exclusion amounts

WASHINGTON — The Treasury Department and the Internal Revenue Service today issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not…