IRS Newswire

Affordable Care, IRS Newswire, Tax Tips

What to do if client receives a Premium Tax Credit letter

Some taxpayers may receive a letter from the IRS requesting information on advance payments of the Premium Tax Credit. Letter 0012C requires you or the taxpayer to take several steps, and it could mean the client is due a refund. Here is what you should know and what you should do with the letter. Why is my client receiving letter 0012C? The Health Insurance Marketplace…
IRS Newswire, Tax News

IRS updates tax return filing season statistics

With a few weeks remaining in the tax filing season, e-filed tax returns prepared by tax professionals have decreased nearly 4 percent compared to 2015, according to the latest IRS statistics available. The statistics cover the filing season up to April 1. The tax filing season ends on Monday, April 18. Overall, the IRS has received slightly fewer tax returns.…
IRS Newswire, Tax News

Email phishing schemes increasing this tax season

E-mail phishing schemes targeting taxpayers and tax professionals have risen sharply this filing season leading the IRS to alert consumers to practice caution with emails containing links. Phishing and malware incidents have risen about 400 percent so far this tax season, according to the IRS. Phishing emails trick taxpayers into thinking they have received…