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IRS News 2017_05

IRS News 2017_05


May 2017


 *Closed captioning offered for afternoon web conferences ONLY.Understanding Form 8300 – 75 minutes

(Report of Cash Payments Over $10,000 Received in a Trade or Business)

Continuing Education:

All participants who qualify will receive a Certificate of Completion.

 See Webinars for Small Businesses for upcoming National and Local Webinars

 Click HERE for videos recently posted to the IRS Video Portal.



Private Collection of Some Overdue Federal Taxes Starts in April; Those Affected Will Hear First From IRS; IRS Will Still Handle Most Tax Debts

  • The IRS is sending letters to a relatively small group of taxpayers whose overdue federal tax accounts are being assigned to one of four private-sector collection agencies.
  • Taxpayers being assigned to a private firm would have had multiple contacts from the IRS in previous years and still have an unpaid tax bill.
  • As always, the IRS encourages taxpayers behind on their tax obligations to come forward and either pay what they owe or set up a suitable payment plan. This means there’s no need to wait for a phone call or letter from the IRS or any of its contractors.
  • The IRS reminds taxpayers to be on the lookout for scammers posing as private collection firms.
  • If taxpayers are unsure if they have an unpaid tax debt from a previous year – which is what the private collection firms will handle – they can go to and check their account balance: If the account balance says zero, that means nothing is due, and you typically wouldn’t be getting a contact from the IRS or the private firm.
  • Publication 4518 What You Can Expect When the IRS Assigns Your Account to a Private Collection Agency



You can make Estimated Tax Payments using Direct Pay.

View Your Account Balance and Payment History

  • If you’re an individual taxpayer, you can use this tool to find out:
  • Your payoff amount, updated for the current calendar day
  • The balance for each tax year for which you owe
  • Up to 18 months of your payment history (NEW!)


 Helpful tools when your client gets a notice or letter from the IRS

 Understanding Your IRS Notice or Letter

 Understanding Your CP2000 Notice

 Publication 3498-A The Examination Process (Audits by Mail)

 Beware of Fake IRS Tax Bill Notices


Helpful tools for your clients with a balance due

Publication 5034 “Need to make a payment?” in English and Spanish

 Payment Options: Pay Online, Installment Plans and More

 Direct Pay

 Online Payment Agreement


National Small Business Week

In recognition of National Small Business Week, April 30 to May 6, the IRS is highlighting products to help small business owners and self-employed individuals understand and meet their tax obligations:

Small Business and Self-Employed Tax Center

Independent Contractor (Self-Employed) or Employee?

Small Business Taxes: The Virtual Workshop



No news this month.



No news this month.


Identity Protection: Prevention, Detection and Victim Assistance

  • This is the main page for ID Theft. Find resources for your clients.




  • As part of your estate and advance health care planning, having a power of attorney is a critical component of protecting your interests. Unlike a will which outlines your wishes, and how your wealth and property will be distributed after you are gone; this legal document authorizes another person to act on your behalf when you are not able to manage your affairs on your own.
  • Documenting your requests can be difficult to address but doing so could resolve certain legal issues if done in advance. By designating someone to make decisions for you means your wishes will be carried out when you may not have a voice. Take action on this vital document today.
  • Access our Power of Attorney Guide


Small Business and Self-Employed Tax Center

Understanding Your IRS Notice or Letter

Basic Tools for Tax Professionals

Recent Tax Scams and Consumer Alerts

Identity Protection: Prevention, Detection and Victim Assistance


Federal Trade Commission:


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