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Tax Account Transcript are never e-mailed by IRS (malware alert)

The IRS warn of a recent surge in fraudulent emails using the lure of "tax transcripts" to trick unwary recipients into downloading malware. In a typical case, the scammer takes on the identity of a specific bank or financial institution to trick an email recipient into opening an infected document. In the past few weeks, scammers have sent email from what appears to be "IRS Online." The email includes an attachment labeled "Tax Account Transcript." The IRS does not send unsolicited emails to the public, nor does the IRS email sensitive documents, such as tax transcripts. All fraudulent emails should be forwarded to phishing@irs.gov and deleted.

e-file closed for 2017 1040 returns but open for 2015-2017 1120 corporate returns

Every year, IRS closes e-file for individual 1040 filers at a certain point of time in the year following the most recent tax year. IRS just closed e-file for 2017 1040s on Nov 17 (even if the taxpayer is in a presidential declared disaster area). 2017 1040s filed from today onward must be done on paper through the mail. This is also why ‘catch-up’ returns often must be paper-filed. In contrast, three years of corporate returns can be e-filed – two years prior and the current year. As well, IRS never allows e-file for certain types of return reporting, such as ones claiming a refund of 1042-S or 8288-A over-withholding or rental property returns with gross rents that report no income.

Four ITIN questions clients commonly ask

Four ITIN questions clients commonly ask: When does my ITIN expire? ITINs that haven’t been included on a U.S. federal tax return at least once in the last three consecutive tax years will expire. In addition, ITINs that were assigned before 2013 will expire according to an annual schedule based on the middle digits of the ITIN. The middle digits refer to the fourth and fifth positions of the ITIN. For example, the middle digits for 9xx-78-xxxx are “78.” 2. Does my ITIN need to be renewed when it’s expired (per IRS letter notice)? Depends whether or not you’re filing a US tax return. Expired ITINs or ITINs that are about to expire must be renewed in order to avoid delays in processing one’s

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