Tax News

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The AbitOs team regularly collects, analyzes, and shares domestic and international tax news that we believe could interest – and impact – our clients.

Tax News – December 10, 2020

Beware of a new text message scam, warns the IRS and its security partners.

The COVID-19-related scam tells unwary taxpayers that they qualify for a $1,200 Economic Impact Payment. Here’s how the scam works:...

Other Tax News

Taxpayers who suffer uncompensated losses may be able to claim a tax deduction, if they meet certain conditions.

For nine quarters, a corporation filed returns and paid payroll taxes late.

Tax overpayment and underpayment interest rates will remain unchanged for the first quarter of 2021.

The IRS is reminding employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud.

The Treasury Inspector General for Tax Administration (TIGTA) has issued its “Semiannual Report to Congress: April 1, 2020 – September 30, 2020.”

A new report says “urgent actions” are needed by the IRS for COVID-related tax relief.

National Tax Security Awareness Week ends Dec. 4, but the IRS and its security partners urge taxpayers to remain vigilant.

With federal income tax fraud continuing to be an issue, the IRS has expanded its Identity Protection (IP) PIN Opt-In program to taxpayers nationwide.

Misclassifying a worker as an independent contractor doesn’t result in filing a fraudulent information return with the IRS.

Where’s your tax home?

Be on the lookout for online scams, says the IRS.

Stay in Touch

AbitOs Newsletters

Tax News

Stay Up-to-date

Tax News – December 10, 2020

Beware of a new text message scam, warns the IRS and its security partners.

Other Tax News

Taxpayers who suffer uncompensated losses may be able to claim a tax deduction, if they meet certain conditions.

For nine quarters, a corporation filed returns and paid payroll taxes late.

Tax overpayment and underpayment interest rates will remain unchanged for the first quarter of 2021.

The IRS is reminding employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud.

The Treasury Inspector General for Tax Administration (TIGTA) has issued its “Semiannual Report to Congress: April 1, 2020 – September 30, 2020.”

A new report says “urgent actions” are needed by the IRS for COVID-related tax relief.

National Tax Security Awareness Week ends Dec. 4, but the IRS and its security partners urge taxpayers to remain vigilant.

With federal income tax fraud continuing to be an issue, the IRS has expanded its Identity Protection (IP) PIN Opt-In program to taxpayers nationwide.

Misclassifying a worker as an independent contractor doesn’t result in filing a fraudulent information return with the IRS.

Where’s your tax home?

Be on the lookout for online scams, says the IRS.

Stay in Touch

AbitOs Newsletters

Selling a Property? Here’s What You Need to Know About FIRPTA

District court: FBAR non-willful penalty applies per report, not per account

Have you done business in a foreign country because of COVID-19?

FATCA deadlines extended because of COVID-19

COVID-19 relief available to some nonresident aliens, foreign corporations

2020 FBAR penalties (adjusted for inflation)

Final regs: Transfers to partnerships with related foreign partners

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