Tax Alerts

IRS Reminds Taxpayers of Steps to Take in Identity Theft Cases, FS-2022-25

The IRS reminded identity theft victims of important steps they should take to protect themselves from tax fraud. By requesting Identity Protection (IP) PINs from the Get an IP PIN tool, taxpayers can prevent thieves from claiming tax refunds in their names. An IP PIN helps prevent the misuse of their Social Security number or Individual Taxpayer Identification Number (ITIN) on federal income tax returns. The IRS may automatically assign an IP PIN if it determines the taxpayer is a victim of tax-related identity theft.

Further, the IRS informed taxpayers how to handle tax-related identity theft. In most tax-related identity theft cases, the IRS identifies a suspicious tax return and pulls it for review. The IRS then sends a letter to the taxpayer and won’t process the tax return until the taxpayer responds. The IRS identified three types of letter it may send to taxpayer to verify their identity. If the taxpayer receives any of these letters, they don’t need to file a Form 14039, Identity Theft Affidavit. Instead, they should follow the instructions in the letter.

Additionally, the IRS explained that taxpayers may need to submit a Form 14039 if they suspect tax-related identity theft and have not heard from the IRS. The IRS provided a list of possible tax-related identity theft situations. Lastly, the IRS informed taxpayers that they do not need to report incidents of non-tax-related identity theft to the IRS but should take steps to protect themselves against the type of identity theft they have experienced. The IRS provided a list of potential evidence of non-tax-related identity theft. Victims of non-tax-related identity theft do not need to file Form 14039.

FAQs Released on Energy Efficient Home Improvements and Residential Clean Energy Property Credits, FS-2022-40

The IRS has released frequently asked questions (FAQs) about energy efficient home improvements and residential clean energy property credits. The […]

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FAQs Released on Energy Efficient Home Improvements and Residential Clean Energy Property Credits, FS-2022-40

IRS, DOL Renew Employee Misclassification Memorandum of Understanding

The Internal Revenue Service and the U.S. Department of Labor announced they have renewed a memorandum of understanding (MOU) under […]

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IRS, DOL Renew Employee Misclassification Memorandum of Understanding

Transitional Guidance on Broker Digital Asset Reporting Provided, Announcement 2023-2

The Treasury Department and IRS have announced that brokers are not required to report additional information with respect to dispositions […]

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Transitional Guidance on Broker Digital Asset Reporting Provided, Announcement 2023-2

IRS Completes Final Corrections on 2020 Unemployment Compensation Tax Payments, IR-2023-2

The IRS recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation received in 2020. […]

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IRS Completes Final Corrections on 2020 Unemployment Compensation Tax Payments, IR-2023-2

FL - Additional guidance issued on tax relief for property made uninhabitable by Hurricanes Ian or Nicole

The Florida Department of Revenue has issued additional guidance regarding property tax relief for residential properties rendered uninhabitable for 30 […]

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FL - Additional guidance issued on tax relief for property made uninhabitable by Hurricanes Ian or Nicole

IRS Reminds Taxpayers to Check Tax Withholding Now to Avoid Paying Future Quarterly Estimated Payments, FS-2023-1; IR-2023-10

The IRS reminded taxpayers who earn wages to use the Tax Withholding Estimator tool to adjust their 2023 withholding. Checking now and […]

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IRS Reminds Taxpayers to Check Tax Withholding Now to Avoid Paying Future Quarterly Estimated Payments, FS-2023-1; IR-2023-10

2023 Standard Mileage Rates Released, Notice 2023-3

The IRS released the optional standard mileage rates for 2023. Most taxpayers may use these rates to compute deductible costs […]

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2023 Standard Mileage Rates Released, Notice 2023-3

Inflation Reduction Act Triggers Numerous Tax Form Changes

The passage of the Inflation Reduction Act in 2022 has triggered changes to many tax forms, tax form instructions, and […]

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Inflation Reduction Act Triggers Numerous Tax Form Changes

FL - Taxpayer properly applied cost-of-performance rule to its income producing activities

An out of state subsidiary (taxpayer) of a nationwide online and brick-and-mortar retailer (retailer) properly sourced its service revenue under […]

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FL - Taxpayer properly applied cost-of-performance rule to its income producing activities

FL - Guidance provided on tax relief for properties made uninhabitable by Hurricanes Ian or Nicole

Florida provides guidance regarding property tax relief for residential properties rendered uninhabitable for 30 days or more due to Hurricanes […]

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FL - Guidance provided on tax relief for properties made uninhabitable by Hurricanes Ian or Nicole