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December 6, 2023 – Because of the growing influence of student-athletes and celebrities in social media and their communities, the attention surrounding NIL is not surprising. Student-Athletes Involved in Name Image Likeness (NIL) Agreements Should Be Aware of Their Federal Tax Obligations Collegiate athletics is a competitive and popular multibillion dollar business industry. With television…

Required Minimum Distribution Taxpayers generally have to start taking withdrawals from their Individual Retirement Account (IRA), Simplified Employee Pension (SEP) IRA, Savings Incentive Match Plan for Employees (SIMPLE) IRA, or retirement plan account when reaching age 72 (73 if you reach age 72 after Dec. 31, 2022). These withdrawals, called required minimum distributions (RMDs), are the minimum…

December 4, 2023  – A power of attorney (POA) called TAS for help resolving a client’s balance due. The POA had submitted documents to the IRS showing that the taxpayer did not owe taxes for the sale of a house. The documents were not accepted, and the IRS adjusted the taxpayer’s account, creating a large…

November 30, 2023 – Today, I want to remind taxpayers about the importance of filing electronic petitions by the applicable filing date using Eastern Time (ET). In a prior NTA Blog: Have You Recently Filed a Petition With the U.S. Tax Court?, I discussed how delays in processing U.S. Tax Court petitions were negatively impacting…

November 20, 2023  – The taxpayers filed an amended return showing that they actually lost money on the real estate sale and were due a refund. However, the IRS hadn’t processed the amended return.      Success Story: TAS Untangles Complex Refund Issue  Every year the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems.…

The post TAS TAX TIP: IRS Resumes Sending Some Collection Notices appeared first on Taxpayer Advocate Service.

November 9, 2023 – National Taxpayer Advocate Erin M. Collins Receives Prestigious Award for Lifetime Achievement in Tax   National Taxpayer Advocate Erin M. Collins Receives Prestigious Award for Lifetime Achievement in Tax The Taxpayer Advocate Service (TAS) is pleased to announce that the California Lawyers Association Taxation Section has selected National Taxpayer Advocate Erin…

November 9, 2023 – The Taxpayer Advocate Service asks that you to help spread the message about resources available to the homeless.   Tax benefits and resources for people experiencing homelessness As of January 2020,  End Homelessness.org reports that there were over 580,000 homeless people in the United States. This includes individuals who have no housing or…

November 3, 2023  – A taxpayer came to TAS after her bank returned her refund to the IRS via a cashier’s check because the bank account number on her tax return was off by one digit.   Success Story: TAS Untangles Complex Refund Issue  Every year the Taxpayer Advocate Service (TAS) helps thousands of people…

November 1, 2023 – If you have determined you do not quality for an Employee Retention Credit (ERC) you claimed, the IRS has provided guidance on whether you can withdraw your claim, and if so, how to withdraw your claim.   If you have determined you do not quality for an Employee Retention Credit (ERC) you claimed,…