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IRS ISSUES NEW UPDATED WITHHOLDING TABLES

One of the most often heard Congressional talking points for the Tax Cuts and Jobs Act (TCJA) was that millions of workers would see an increase in their take home paychecks. To this end, on Thursday, the IRS issued new wage withholding guidelines. The guidelines are needed so employers can calculate how much tax to withhold from employees’ pay. Employees should begin seeing changes in their paychecks by February 15th (or sooner) since it normally takes about a month to update systems....

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No Phishing! Watch Out for Fake IRS Calls

Have you received a vague phone call from a person claiming to be the IRS, demanding that you cough up money to pay taxes without providing any tangible information? These callers can be relentless and may have ordinary names, persuasive IRS badge numbers, and transform your caller ID to display the words “IRS” across it, as if the actual organization is calling you. Before you panic, this is a scam called phishing, where frauds posing as the IRS make unsolicited communication to...

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IRS Phone Frauds Echo into the New Year

Magnifying the communication scam nightmare As tax season prepares for launch, countless Americans are at climbing risk for falling victim to unsolicited telephone calls, texts, and emails from individuals falsely claiming to be Internal Revenue Service and Treasury workers. Though phone scams have progressively been ceaseless year-round, the Treasury Inspector General for Tax Administration (TIGTA) is careful to stress this particular year as prey to the greatest attack ever beheld. Each...

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