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Tax Tip 2023-107, Aug. 31, 2023 ¡ª Natural disasters can strike without warning. Sometimes even the most diligent taxpayers are left without the important personal and financial records they need. People may need documentation for tax purposes, federal or state assistance programs or insurance claims.

Topic No. 501, Should I Itemize?

April 25, 2024 ¡ª A superseding indictment was returned yesterday by a federal grand jury in Denver charging four people with conspiring with Larry Conner and Timothy McPhee to defraud the IRS. Connor and McPhee had previously been indicted for conspiring to defraud the IRS related to the same scheme in September 2023.

You received this notice because, according to our calculations, you didn't prepay enough of your tax through estimated tax payments, or didn't make them on time. The notice tells you we assessed a penalty for failure to make sufficient timely estimated tax payments.

April 25, 2023 ¡ª The former school board president of the Madison District Public Schools pleaded guilty today to taking bribes from a local school contractor in a pay-to-play scheme and to tax evasion, United States Attorney Dawn N. Ison announced.

May 24, 2023 ¡ª Shawn Edward Good of Wilmington, was sentenced today to 87 months in prison followed by three years of supervised release for carrying out a $7 million dollar investment fraud scheme. Good pleaded guilty to wire fraud and money laundering on September 15, 2022. Good was also ordered to pay $3,619,594 in restitution to victims.

References and discussion of Forms 1042, 1042-S and Form 1042-T. Forms have been completely redesigned to reflect changes made to the regulations under Internal Revenue Code Chapters 3 and 4 (FATCA).

SOI Tax Stats - SOI Bulletin: Winter 2007-2008

You may be required to report yearly to the IRS foreign bank and financial accounts (FBAR) exceeding certain thresholds.?

Are there any exceptions to the requirement to file the Form 990?