The Internal Revenue Service (IRS) sounded the alarm about a new phishing scam in which cybercriminals are sending out fraudulent emails impersonating the IRS, claiming the attachments are tax transcripts, to fool recipients into clicking on and opening files containing malware that could infect their computers. The scam email bears an attachment labeled “Tax Account… Continue Reading
Archives for January 2019
Estimated Tax Penalty Waived
The Internal Revenue Service (IRS) announced last Wednesday that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS is generally waiving the penalty for any taxpayer who paid at least 85 percent… Continue Reading
Who has to Send in Form 1099-MISC
We are Business Consultants At Christianson, we want to ensure that you are protected from liabilities with the IRS by giving you all the information you need to run your business in a legal and efficient manner. We want to help your business succeed! Today’s tip is in relation to Form 1099-MISC and who is required… Continue Reading
Can I Still File Taxes Despite the Government Shutdown?
In an effort to keep all of our clients aware of variables that may impact them, we want to update you with information as it becomes available. As of January 7th, 2019, the Internal Revenue Service (IRS) has stated that tax returns will be processed beginning January 28, 2019 and taxpayers will be provided refunds as… Continue Reading
Increase for the Child Tax Credit
Beginning with 2018 tax returns, families will be able to get more money under the newly revised Child Tax Credit. The Tax Cuts and Jobs Act (TCJA) (the tax reform legislation passed in December 2017) doubled the maximum Child Tax Credit, boosted income limits to be able to claim the credit, and revised the identification… Continue Reading
