Tag Archives: Internal Revenue Service

IRS Tax Tip Number 11 – IRS, States, Industry Urge Taxpayers to Learn Signs of Identity Theft

No matter how careful you are, identity thieves may be able to steal your personal information. If this happens, thieves try to turn that data quickly into cash by filing fraudulent tax returns. The IRS, state tax agencies and the … Continue reading

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Last Minute Change for New Forms Affecting 2015 Form 1040 Taxpayers

During the first quarter of 2016, you may receive one or more of the new health care coverage information forms to help you prepare your 2015 Form 1040.  The new forms are: Form 1095-A – Only individuals who enrolled in 2015 coverage through … Continue reading

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IRS Raises Tangible Property Expensing Threshold

Many businesses are uncertain how to account for costs to acquire, produce or improve property, plant and equipment. So, in 2013 the IRS issued regulations on capitalizing versus deducting the costs of tangible personal property. In 2014, the IRS added … Continue reading

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Levin Swedler Kennedy Year-End Tax Planning for 2015

As the end of 2015 approaches, now is a good time to consider planning moves that will help lower your tax bill for this year and into the future. Tax planning is a proactive and on-going process, this time of … Continue reading

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Identifying Potential Tax Scams

Due to the recent rise in the number tax fraud cases, the IRS cautions taxpayers to be wary of any communication they receive regarding their Federal tax bill or refund. Phone calls, text messages, and emails that appear to be … Continue reading

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IRS Makes Applying for 501(c)(3) Tax-Exempt Status Easier

The Internal Revenue Service (IRS) currently recognizes more than one million 501(c)(3) organizations and has more than 60,000 501(c)(3) applications pending. On July 1, 2014, the IRS introduced a new, streamlined application form to help small charities more easily apply … Continue reading

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