Tax

Tax (862)

eFiles Top 2018 Totals

Efiled returns for the tx season through April 5 reached 96,844,000, a 1-percent increase from 95,899,000 for the period through April 6, 2018. It was the first time during the current season efiles beat 2018 totals, all on the growth in self-prepared returns. 

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eFile Receipts Even with Last Season

Tax montage armyThe gap between the rate of filing for 2018 and 2019 continued to close with the statistical report for the tax season through March 29. With this report, the number of efiled receipts reported to date, 87,288,000, was virtual unchanged from 87,328,000 for the season through March 30, 2018.

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Returns Filed Edge Closer to Last Year

The results of return filing for the tax season through March 22 resumed closing the gap on last year’s season through March 23, 2018. While the average return continue to change little, the number of returns received gained on the prior season.

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IRS Revises EIN Application Process

The Internal Revenue Service has revised the process for applying for an Employer Identification Number. Starting May 13, only individuals with tax identification numbers can request an EIN as the responsible party on the application.

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IRS Expands Underpayment Relief

Mobile apps artThe Internal Revenue Service is lowering the threshold for taxpayers who wish to qualify for relief from penalties on 2018 federal income tax withholding and estimated tax payments. The agency reduced the threshold for penalties on underpayment to 80 percent of tax liabilities. 

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Philadelphia Preparers Charged with ID Theft

Two Philadelphia, Pa., tax preparers have been accused of buying and selling personal identifying information of children to claim as dependents on tax returns. Nvahbulai Quisiah and Gofin Kosia, both 43 years old, each face six counts of aggravated identity theft. They have also each been charged on 17 counts of aiding and assisting in the preparation and filing of a false tax return and six counts of wire fraud.

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Refunds and Returns Flatten Out

The average refund issued by the Internal Revenue Service through March 15 dropped by .1 percent over the comparable period ended March 16, 2018. Since the prior report had refunds up by the same percentage over the prior tax season, the pace of change for refunds appears to have plateaued.

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IRS Warns of Fake Advocate Calls

The Internal Revenue Service has reported scammers are making calls impersonating the the Taxpayer Advocate Service. The agency said this week the latest variation of the scam spoofs the telephone numbers of the IRS Taxpayer Advocate Service offices in Houston, Texas, or Brooklyn, N.Y.

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Average Refund Rises Slightly

The average refund rose slightly through March 8, continuing a steady increase regisered in each weekly report issued by the Internal Revenue Service this year. The average refund was $3,008, an increase of .1 percent, from $3,004 from the period through March 9, 2018.

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Court: IRS Can Charge PTIN Fees

IRSThe Internal Revenue Service has the right to charge Preparer Tax Identification Numbers, a federal appeals court has ruled. However, the U.S Court of Appeals for the District of Columbia recently remanded the issue of how much can be charged for issuing those numbers to a lower court

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