e-News for Tax Professionals 2023-04

Businesses can now file Form 1099 series information returns using a new online portal, available free from the IRS. Known as the Information Returns Intake System (IRIS), this electronic filing service is free, secure and requires no special software. Available to any business of any size, IRIS may be especially helpful to any small business that currently submits its 1099 forms on paper to the IRS. This news release is also available in Spanish and Simplified Chinese.

2.??Tax filing season now underway

The 2023 tax filing season kicked off this week with a focus on improving service and a reminder to taxpayers to file electronically with direct deposit to speed refunds. Most of the individual tax returns for the 2022 tax year are expected to be filed before the April 18 tax deadline; however, some taxpayers living overseas and disaster victims may have later filing deadlines. Visit IRS.gov for tips to having a smooth filing season. This news release is also available in Spanish and Simplified Chinese.

3.??On EITC Awareness Day, IRS and partners promote major tax benefit to millions of low- and moderate-income workers

The IRS and partners nationwide kicked off their annual Earned Income Tax Credit (EITC) Awareness Day outreach campaign to help millions of Americans who earned $59,187 or less last year take advantage of the EITC. In 2022, 31 million eligible workers and families across the country received about $64 billion in EITCs, with an average amount of more than $2,000. Visit IRS.gov for more information about who can get the EITC, how to claim this credit, other available tax credits and more. This news release is also available in Spanish and Simplified Chinese.

4.??Employer wage statement deadline is Jan. 31

Tax pros: Remind your clients of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud. This news release is also available in Simplified Chinese.

5.??Taxpayers must now report all digital assets

New on 2022 1040-series tax returns, taxpayers must answer whether they own digital assets and report all digital asset-related income. The term "digital assets" has replaced "virtual currencies," a term used on tax returns in previous years. IRS.gov has additional information about digital assets, how to report digital asset income and more. This news release is also available in Spanish and Simplified Chinese.

6.? Credits available for clean energy and energy-efficient home improvements

Tax pros: Your clients may be eligible to claim residential clean energy and efficient home improvement credits if they made energy-saving improvements in 2022. For more information, see the Instructions for Form 5695, Residential Energy Credits. Also review the frequently asked questions about energy efficient home improvements and residential clean energy property credits.

7.??Avoid scams: Understand how the IRS contacts taxpayers

The tax filing season is a popular time for scammers to dupe unsuspecting taxpayers. Identity thieves often make threatening or alarming calls posing as the IRS in an attempt to steal taxpayer money or personal information.

Find out how to recognize if the call is a scam ? and what to do if you or your clients receive this kind of phone call. Learn more about how the IRS contacts taxpayers and how to know it?s really the IRS reaching out.

8.??Webinars for tax practitioners

Following are upcoming webinars for the tax practitioner community. For more information or to register, visit IRS.gov.

Estate and Gift Tax on Jan. 31 at 2 p.m. EST. Earn up to 1 CE credit.
Streamlined Filing Procedures for U.S. Citizens Abroad on Feb. 1 at 10 p.m. EST. Earn up to 2 CE credits.
IRS and Federal Trade Commission presents: Scams, Tax Related Identity Theft and Identity Protection PIN on Feb. 2 at 3 p.m. EST. No CE credit is offered.
Practical Considerations ? Foreign Tax Credit on Feb. 7 at 2 p.m. EST. Earn up to 2 CE credits.
K2/K3 with a Focus on the Foreign Tax Credit ? Individuals on Feb. 9 at 2 p.m. EST. Earn up to 2 CE credits.

Additional continuing education opportunities are available at the IRS Nationwide Tax Forums Online.

9.??News from the Justice Department?s Tax Division

The United States filed a complaint in the U.S. District Court for the Northern District of Texas this week seeking to bar Jennifer Murley, a North Texas tax return preparer, from preparing federal income tax returns for others. According to the complaint, Murley and her business overstated the customers? tax refunds by fabricating household help income, which can increase unlawful claims for tax credits, or by fabricating or inflating business losses to reduce taxable income improperly. The complaint further alleges that the fraudulent return preparation activities of Murley and her tax preparation business have caused a loss to the United States for returns filed during the years 2019 through 2022 totaling more than an estimated $2 million of tax revenue.

The United States filed a complaint in the U.S. District Court for the Middle District of Louisiana seeking to bar Whylithia R. Robinson, a Louisiana tax return preparer, and her business from assisting in the preparing of federal income tax returns for others. According to the complaint, Robinson displayed a pattern of filing tax returns from 2019-2021 that understated the customer?s tax liabilities and overstated tax refunds by fabricating business losses, claiming false charitable donations and/or falsely claiming education credits for customers who were not entitled to them.

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