Exempt Organization Submissions New Mailing Address Effective immediately, use the mailing addresses below for Forms 1023, 1024, 1024-A and 1028. Regular U.S. Postal Service mail: Internal Revenue Service P.O. Box 12192 TE/GE Stop 31A Team 105 Covington, KY 41012-0192 Deliveries by private delivery service: Internal Revenue Service 7940 Kentucky Drive TE/GE Stop 31A Team 105 Florence, KY 41042 If you have had your submission returned to you as undeliverable, you are requested to resubmit using one of the above addresses. Check out EO submissions for more information on the forms affected by the address change.
Time is running out to take NSTP’s Federal Tax Update and Review Course! For the information you need this upcoming tax season, whether you are setting up appointments for 2019 tax planning or preparing for the 2020 tax filing season, the NSTP Federal Tax Update And Review Courses will get you ready. The sessions will include the information you need to help your clients prepare for filing their 2019 tax returns. And, as always, the Federal Tax Update and Review courses all include a networking lunch in your registration fee. Following is a sampling of the topics we will be covering: Educator expenses. For 2020, eligible elementary and secondary school teachers can claim an above-the line deduction for up to $250 per year of expenses paid for books and certain other supplies used in the classroom (same as for 2019). Interest exclusion for higher education. For 2020, the phase-out for excluding interest on U.S. savings bonds redeemed to pay qualified higher education expenses will begin at modified adjusted gross income (MAGI) above $82,350 ($123,550 on a joint return). For 2019, the corresponding figures were $81,100 and $121,600. Qualified transportation fringe benefits. For 2020, an employee will be able to exclude up to $270 … Read More
Tax Professional’s 2020 To Do List: IRS Reminds Tax Professionals of Tasks to Get Ready For 2020 Tax professionals are reminded to review their e-Services account to ensure all contact information is accurate and to add or remove users. Reviewing e-Services information is just one of the tasks tax pros should complete now to get ready for 2020. Here’s a to-do list for the rest of 2019: Update e-Services information E-Services offers a suite of tools to assist tax pros. These tools include the e-file application, the Transcript Delivery System (TDS) and a secure mailbox. New e-Services users must first register and verify their identities using Secure Access authentication. Principals, principal consents or authorized responsible officials/delegated users must update the e-file application to ensure that all contact information is accurate. Individuals no longer associated with the firm must be removed from the application. New delegated users must be added to the e-file application. Firms that will need to use the e-Services TDS should ensure the appropriate people are approved on the application to avoid any delays in accessing client transcripts. Firms opening new offices where electronic transmissions will occur also must submit new e-file applications. E-file providers should review Publication … Read More
W-2 Information Mismatch Notices Sent To More Employers The Social Security Administration (SSA) has announced that it is sending a second round of notices to businesses and employers who submitted a Form W-2 (Wage and Tax Statement) for 2018 that contained name and Social Security Number (SSN) combinations that do not match SSA records. If the SSA cannot match the name and SSN reported on a Form W-2 with its records, it cannot reconcile employer wage reports and credit earnings to the record of a worker. When earnings are missing, the worker may not qualify for the Social Security benefits he or she is due, or the benefit amount may be incorrect. When the SSA receives a Form W-2 that contain names and SSN combinations that do not match its records, it sends the employer a notice referred to by the SSA as Educational Correspondence (EDCOR). According to the SSA, reported names and SSNs may not agree with SSA records because of typographical errors, unreported name changes, and inaccurate or incomplete employer records. In March 2019, the SSA began mailing notifications to employers identified as having at least one name and Social Security Number (SSN) combination submitted on Forms W-2 … Read More
Tax Debt and Private Collection Agencies – Taxpayers Can Find Answers to Questions on IRS.gov Taxpayers who are contacted by a private collection agency on behalf of the IRS might have questions about the program. These taxpayers can visit IRS.gov to find answers to questions they might have. In fact, to better help these taxpayers, the IRS recently updated the private debt collection pages on IRS.gov. These updates added more information for taxpayers whose case is being handled by a collection agency. The web pages include info such as: The names and addresses of the collection agencies. How the process works. What a taxpayer should do after being contacted. Here are some things taxpayers should know about the private debt collection program: The law requires the IRS to use these agencies to collect certain inactive tax debts. Before being contacted by a private collection agency, the taxpayer will receive two letters. Notice CP40 comes from the IRS to individual taxpayers. Business taxpayers receive a Notice CP140 from the IRS. These letters tell the taxpayer their overdue account was assigned to a private collection agency. An initial contact letter comes from the private collection agency. This letter has info on how the taxpayer … Read More
Have you registered yet for an NSTP Federal Tax Update and Review Course? This upcoming tax season, whether you are setting up appointments for 2019 tax planning or preparing for the 2020 tax filing season, the NSTP Federal Tax Update And Review Courses will get you ready. The sessions will include the information you need to help your clients prepare for filing their 2019 tax returns. Following is a sampling of the topics we will be covering: Educator expenses Interest exclusion for higher education Qualified transportation fringe benefits Lifetime learning credit phaseout Adoption credit Adoption exclusion Student loan interest deduction MAGI limits for making deductible contributions by active plan participants to traditional IRAs MAGI limits for making contributions to Roth IRAs Saver’s credit And, as always, the Federal Tax Update and Review courses all include a networking lunch in your registration fee. Register today!