IRS NEWS FOR PAYROLL AND HUMAN RESOURCES
*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)
- June 15, 2017 – 10 am Central; 9 am Mountain
- Register & Attend: https://www.webcaster4.com/Webcast/Page/1148/20341
- June 15, 2017 – 1 pm Central; 12 pm Mountain; *
- Register & Attend: https://www.webcaster4.com/Webcast/Page/1148/20342
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.
- 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 IRS.gov and check their account balance: irs.gov/balancedue. 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
DID YOU KNOW?
You can make Estimated Tax Payments using Direct Pay.
- 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
Helpful tools for your clients with a balance due
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:
No news this month.
►AFFORDABLE CARE ACT
No news this month.
►TAXES. SECURITY. TOGETHER. (Identity Theft)
- This is the main page for ID Theft. Find resources for your clients.
►NEWS FROM OTHER AGENCIES
- 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
►IN EVERY ISSUE
Federal Trade Commission:
- Individuals: https://www.identitytheft.gov/