Monday, August 22, 2016

IRS Warns About ‘Federal Student Tax’ Scams

A new IRS warning about scammers targeting students and parents.
Telephone scammers may target students and parents during the back-to-school season and demand payments for such non-existent taxes as the “Federal Student Tax,” the IRS has warned.
IRS impersonators may call students and demand that money be wired immediately to pay a fake federal student tax, according to the Service. As in other similar scams, if the taxpayer doesn’t comply, the scammer becomes aggressive and threatens to report the student to the police to be arrested.

Friday, August 5, 2016

IRS Rolling Out Mandatory ITIN Renewals

The Internal Revenue Service is making some important changes in the Individual Taxpayer Identification Number program that will require many ITIN holders to renew their numbers under a law passed by Congress last December.

The IRS plans to begin the renewals in October. The Protecting Americans from Tax Hikes Act, also known as the PATH Act, requires ITINs that have not been used on a federal tax return at least once in the last three years to be renewed. Otherwise they will no longer be valid for use on a tax return unless the taxpayer renews it. ITINs are frequently used by foreign nationals, resident aliens and undocumented workers.
ITINs issued by the IRS before 2013 that have been used on a federal tax return in the past three years will need to be renewed starting this fall. The IRS is putting in place a rolling schedule for the renewals to help taxpayers.