Category Archives: IRS News

I am from the IRS and I am here to help you!

The IRS is Coming

I am from the IRS and I am here to help you! The intention, believe it or not, is to help small businesses that start to get behind on payroll tax deposits – before they get so far behind that it’s too late to save the business. The fact is, one of the most common reason that small businesses fail (other than ineptitude, bad planning and lack of funds) is that the owner thinks it’s OK to use the money withheld from employees’ paychecks to pay their own bills, as a short-term loan. It might work once. But payroll after payroll, the boss starts getting more behind. The funds don’t get paid back. The payroll taxes don’t ever get deposited. This affects the employees, trying to get their refunds. This often causes businesses to go under.

TaxMama’s TaxQuips 2019 Last Minute Tips and News

  Today TaxMama® wants to give you news and some steps to take before the end of 2019.        Dear Family, In the tax world, we spent this year trying to understand how to interpret all sorts of provisions of the Tax Cuts and Jobs Act that was passed at the last minute […]

New IRS Appointments – Important and Good!

My friends, this is great news. These are excellent appointments. Sure, they know how to handle audits and collections – work with the “Small Business” taxpayer. But better than that – they also understand the taxpayer’s problems and issues and would prefer to help them prosper – or return to prosperity – than to shut […]

Interactive tool on IRS.gov helps taxpayers get answers to their tax questions

Tax questions can pop up any time of the year. When people need answers, they should start with Interactive Tax Assistant on IRS.gov. It’s a tool that provides answers to a many tax law questions. The taxpayer enters answers to a series of questions and the tool gives them a response based on those answers. Here are […]

Proposed Tax Legislation

TaxMama® wants to bring some pending and potential tax legislation to your attention, today. Dear Family, On June 14th, I told you about the Taxpayer First Act that was waiting to be signed by the President. He signed that bill into law on July 1st. But there is still a lot that needs to be […]

Your Opinion on the New, Proposed W-4 for 2020

The IRS just released a draft of the Form W-4 that they a proposing to use for 2020. They came up with this after meeting with a national trade group of payroll tax processors – the folks who prepare the vast majority of payrolls and payroll tax returns in the country. Please open this file […]

TaxMama’s TaxQuips Americans Overseas

Lately, TaxMama® has been getting questions from tax professionals about clients who have moved out of the U.S. and have not filed tax returns. Those folks are now in deep trouble. Dear Family, If you have American family,  friends or associates living or working outside the United States, please check with them immediately.  Make sure […]

TaxMama’s TaxQuips Report from the IRS Meeting

  Photo by jaingolfsland  Last week, TaxMama® visited the IRS, at our Practitioner Stakeholder Liaison meeting. Here is a brief summary of our six-hour session. Dear Family, Believe it or not, one of my favorite activities is spending time with the IRS. Over the years, the terrifying auditors and collections officers become real people I […]

Small Business Week

  TaxMama® welcomes you to Small Business Week! The IRS has been sending out all kinds of helpful information. (You know – I’m from the IRS and I’m here to help you!) Dear Family, It is, indeed, Small Business Week. And since many of you own your business, or run a business or profitable hobby […]

Correcting and Avoiding Errors

TaxMama® is hearing from readers or friends about things they left off their tax returns, or errors they made in the course of filing…perhaps a little too soon. Dear Family, TaxMama®  is a big proponent of the “slow-down” philosophy. Use the extension. Take the time to review the tax return and the information in it […]

2018 and 2019 Tax Extenders

Today TaxMama® wants to alert you to a tax extender bill sitting in Congress. It’s the Tax Extender and Disaster Relief Act of 2019. Dear Family, Great news! The extender bill that Congress is working on will buy us two years of (relative) certainty about our tax lives. The  provisions in this bill will extend […]