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Posts By: Zinner & Co. Tax Department

From IRS.gov 

IR-2017-80, April 12, 2017                                                                   

WASHINGTON — With the April 18 deadline fast approaching, the Internal Revenue Service today offered taxpayers still working on their 2016 taxes a number of tips.

The IRS encourages taxpayers to file electronically. Doing so, whether through e-file or IRS Free File, vastly reduces tax return errors, as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. And best of all, there is a free option for everyone. Whether filing electronically or on paper, be sure to keep a copy of your tax return.

In addition, the IRS offers these last-minute tips:

From the IRS newsroom

All taxpayers should file on time, even if they can’t pay what they owe. This saves them from potentially paying a failure to file penalty. Taxes are due by the original due date of the return.

 Here are four tips for those who can’t pay their taxes in full by the April 18 due date:

If your business uses independent contractors as part of its work force, depending on the circumstances, the IRS might reclassify these workers as employees. Such a reclassification would expose your business to employment taxes and penalties. In addition, your business might be responsible for retroactive fringe benefits for any reclassified workers.

If you are a taxpayer in the homestretch of preparing to file your income tax return, keep in mind these ten points that could affect your tax bill.

A dangerous email scam currently is circulating nationwide and targeting employers, including tax exempt entities, universities and schools, government and private-sector businesses. The scammer poses as an internal executive requesting employee Forms W-2 and Social Security Number information from company payroll or human resources departments. They may even send an initial “Hi, are you in today” message before the request.

WASHINGTON – With the 2017 tax season underway, the IRS reminds seniors to remain alert to aggressive and threatening phone calls by criminals impersonating IRS agents. The callers claim to be IRS employees, but are not. 

These con artists can sound convincing when they call. They use fake names and bogus IRS identification badge numbers. They may know a lot about their targets, and they usually alter the caller ID to make it look like the IRS is calling.

Taxpayers will have until Tuesday, April 18, 2017 to file their 2016 returns and pay any taxes due. That’s because of the combined impact of the weekend and a holiday in the District of Columbia. 

If you are a parent of a soon-to-be college student or perhaps thinking of attending or completing your education, you will want to fill out a Free Application for Federal Student Aid, also known as a FAFSA. 

But where to start? As they say, knowledge is power! For many, the FAFSA, and the process of completing a FAFSA, can be confusing. 

Lessening the confusion
First, take time to navigate through the FAFSA website. Unfortunately, a simple Google search with the terms FAFSA will return sites that may or may not be accurate.

WASHINGTON — The Internal Revenue Service announced today that unclaimed federal income tax refunds totaling more than $1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2013 federal income tax return.