Tax Alerts

Seniors Warned of Rising Impersonation Scams, IR-2024-164

The IRS has issued a warning about the increasing threat of impersonation scams targeting seniors. These scams involve fraudsters posing as government officials, including IRS agents, to steal sensitive personal information and money. By pretending to be representatives from agencies such as the IRS, Social Security Administration, or Medicare, these scammers contact their victims through phone calls, emails, or text messages, exploiting fear and urgency to deceive seniors. IRS Commissioner Danny Werfel emphasized that combating these scams requires a collective effort from multiple agencies and the broader tax community to effectively reach and protect seniors.

This warning comes as part of the lead-up to World Elder Abuse Awareness Day (WEAAD) on June 15. WEAAD, observed since 2006, aims to raise awareness about the neglect and abuse faced by millions of older adults. The IRS’s long-term efforts to protect against scams, including identity theft, have been ongoing since the establishment of the Security Summit partnership in 2015. Scammers use sophisticated techniques such as caller ID spoofing to create a false sense of legitimacy, often pressuring victims into making immediate payments through unconventional methods like gift cards or wire transfers. These fraudulent actors frequently fabricate urgent scenarios, claiming issues like outstanding debts or promising fictitious prize winnings to coerce their victims.

To help prevent these scams, the IRS has advised individuals to verify the legitimacy of any communications they receive. If an unexpected call or message is received, especially if no prior mail notification has been given, it is likely a scam. The IRS does not initiate contact through email, text, or social media regarding tax bills or refunds. Suspicious contacts should be reported to the Treasury Inspector General for Tax Administration. By staying informed and cautious, seniors can better protect themselves from financial loss and identity theft. The IRS and other federal agencies continue to urge vigilance against these deceitful practices.

FL - Guidance provided on sales and reporting of dyed diesel fuel during hurricane helene penalty relief period

Consistent with the Hurricane Helene penalty relief announced by the Internal Revenue Service (IRS), the Florida Department of Revenue is […]

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FL - Guidance provided on sales and reporting of dyed diesel fuel during hurricane helene penalty relief period

FL - Guidance provided on change in application process for child care tax credit

Beginning October 1, 2024, taxpayers that wish to participate in the child care tax credit program must apply to the […]

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FL - Guidance provided on change in application process for child care tax credit

IRS Updates Premium Tax Credit Table, Required Contribution Percentage, Rev. Proc. 2024-35

The IRS has updated the applicable percentage table used to calculate an individual’s premium tax credit and required contribution percentage […]

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IRS Updates Premium Tax Credit Table, Required Contribution Percentage, Rev. Proc. 2024-35

Changes Under SECURE 2.0 Act to Affect Amounts Report by Businesses on Forms W-2, FS-2024-29

The IRS has reminded businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the […]

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Changes Under SECURE 2.0 Act to Affect Amounts Report by Businesses on Forms W-2, FS-2024-29

IRS Urges Tax Professionals to Strengthen Security Measures Against Rising Threats, IR-2024-224

The IRS and the Security Summit concluded their eight-week summer awareness campaign by urging tax professionals to implement stronger security […]

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IRS Urges Tax Professionals to Strengthen Security Measures Against Rising Threats, IR-2024-224

IRS Reminds Employers to Use Educational Assistance Programs for Student Loan Payments Until 2025, IR-2024-227

The IRS has reminded employers that educational assistance programs can be used to help employees pay off student loans until […]

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IRS Reminds Employers to Use Educational Assistance Programs for Student Loan Payments Until 2025, IR-2024-227

IRS Urges Taxpayers to Perform End-of-Summer Tax Checkup, IR-2024-225

The IRS has urged taxpayers to conduct an end-of-summer tax checkup to avoid unexpected tax bills in the upcoming year. […]

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IRS Urges Taxpayers to Perform End-of-Summer Tax Checkup, IR-2024-225

FL - Hillsborough County sales surtax refund announced

Hillsborough County residents and non-residents who can verify taxable expenditures with receipts or other documentation will receive compensation equal to […]

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FL - Hillsborough County sales surtax refund announced

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 […]

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IRS Highlights New Business Tax Account Features, FS-2024-27

Guidance Issued on Retirement Plan Employer Matching Contributions Made for Student Loan Payments, Notice-2024-63; IR-2024-217

The IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]

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Guidance Issued on Retirement Plan Employer Matching Contributions Made for Student Loan Payments, Notice-2024-63; IR-2024-217