IRS Alerts

IRS Reminds Exempts to File Annual Returns by May 15 to Safeguard Exemption

May 10, 2018

IR 2018-117, May 2018 IRS has issued a Fact Sheet and a News Release reminding tax-exempt organizations to file their annual information returns (Form 990, Return of Organization Exempt From Income Tax) by May 15, 2018, or risk having their federal tax-exempt status revoked. IRS also cautioned tax-exempts not to include Social Security numbers (SSNs)…

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IRS News Alert

April 26, 2018

Warning! The Internal Revenue Service recently announced that criminals are using telephone numbers that mimic IRS Taxpayer Assistance Centers (TACs) to trick individuals into paying non-existent bills. Follow the link below to learn more. IRS News Alert

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Fast Track Helps Small Businesses Resolve IRS Matters Swiftly

December 22, 2017

Small business owners and self-employed individuals who are looking to settle factual or legal issues between themselves and the IRS, can use the Fast Track Settlement (“FTS”) program made available by the IRS’s Small Business/Self-Employed Division. The program started as a pilot in 2006, and was made permanent in March 2017 through Revenue Procedure 2017-25.…

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IRS Announces Changes on Key Tax Figures for 2018

November 2, 2017

Recently, the Internal Revenue Service announced annual inflation adjustments on a number of tax provisions, as well as the tax rate tables for Individuals and estates / trusts. The majority of these provisions are increasing for the tax year 2018, which show adjustments to pension plan limitations, FICA tax and estate / gift tax limits.…

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Make the Change

July 6, 2016

IRS Expands Midyear Safe Harbor Plan Changes: Effective January 29, 2016, the IRS announced a policy change which now allows sponsors of safe harbor 401(k) plans more flexibility to make “midyear” changes to their plans. The changes are outlined in IRS Notice 2016-16.

ERISA 1.401(k)-3(k)(3) or 1.401(m)-3(a)(2)

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A Change is Gonna Come

April 19, 2016

Tax Return Changes are Just Around the Corner You may have just filed your 2015 income tax return and have been looking forward to thinking about anything other than taxes for a few months. While that’s understandable, be aware that several important deadline changes have been made for some types of tax returns. The changes…

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