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CL-2023-03SP: “Un vistazo de cerca” a cómo el IRS está mejorando la experiencia del contribuyente, y muchas más mejoras en camino

Hoy, el IRS publicó la columna ejecutiva más reciente, “Un vistazo de cerca”, que presenta a Courtney Kay-Decker, Directora adjunta de experiencia del contribuyente, destacando los esfuerzos del IRS para mejorar la experiencia de los contribuyentes y de todos los que interactúan con la agencia. “Durante 2023, estamos trabajando arduamente para realizar mejoras y avanzar hacia el objetivo del IRS de brindar un servicio excepcional todos los días”, dijo Kay-Decker. "Gracias a la financiación de la Ley de Reducción de la Inflación, ahora tenemos más capacidad para crear mejores experiencias y resultados para todos los contribuyentes". Lea más aquí. “Un vistazo de cerca” es una columna de los ejecutivos del IRS que cubre una variedad de temas actuales de interés para los contribuyentes y la comunidad tributaria. También provee una visión detallada de los problemas clave que afectan todo, desde las operaciones y los empleados del IRS hasta los problemas que involucran a los contribuyentes y los profesionales de impuestos. Vea aquí las publicaciones anteriores y nuevas actualizaciones. Gracias por suscribirse a Consejos Tributarios en Español del IRS, un servicio de correo electrónico del IRS. Para obtener más información sobre los impuestos federales, por favor visite la página de internet IRS.gov. Este mensaje fue distribuido automáticamente de la lista de correos electrónicos de Consejos Tributarios en Español del IRS. Por favor no responda a este mensaje.

CL-2023-03SP: A Closer Look at How the IRS is Enhancing the Taxpayer Experience, and More Improvements on the Way The Internal Revenue Service (IRS) has recently released its latest executive column, “A Closer Look,” featuring Courtney Kay-Decker, the Deputy Director of Taxpayer Experience. This column highlights the IRS’s ongoing efforts to improve the experience for […]

AATS Shutdown/Cutover for Filing Season 2024/Tax Year 2023

The AATS environment will be unavailable beginning Monday, October 30, 2023, at 9:00 a.m. Eastern time through Wednesday, November 1, 2023, at 9:00 a.m. Eastern time. IRS will update AATS programming for Filing Season 2024/Tax Year 2023 during that time. Please do not attempt to access the Application to Application (A2A) and User Interface (UI) Channels during the Shutdown period. The AATS environment will be available beginning Wednesday, November 1, 2023, at 9 a.m. Eastern time, for Filing Season 2024/Tax Year 2023 testing, which includes Tax Year(s) 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016 and 2015. Beginning November 1, 2023: Tax Year 2023 will be the current year in AATS. Tax Year(s) 2022, 2021, 2020, 2019, 2018, 2017, 2016 and 2015 will be accepted as prior year returns in AATS. The Production environment will be still available during the AATS Shutdown, except for the routine maintenance window that occurs each Sunday. Tax Year 2022 is still the current year in Production. Tax Year(s) 2021, 2020, 2019, 2018, 2017, 2016 and 2015 are still accepted as prior year returns in Production.

Scheduled Downtime for AATS During Filing Season 2024/Tax Year 2023 In preparation for the upcoming Filing Season 2024/Tax Year 2023, the AATS (Affordable Application Testing Service) environment will be undergoing a scheduled shutdown. This is to facilitate necessary updates to the AATS programming to ensure a seamless tax filing process for all users. Unavailability of […]

Deciphering IRS Form 1040 and Its Variations

Deciphering IRS Form 1040 and Its Variations The Internal Revenue Service (IRS) is the federal agency responsible for collecting taxes and administering the Internal Revenue Code, the main body of federal statutory tax law in the United States. One of the most commonly used tax forms in the U.S. is Form 1040, the U.S. Individual Income Tax Return. This form is used by U.S. taxpayers to report their annual income, calculate their tax liability, and claim any refunds they might be entitled to. However, Form 1040 isn't just a single form; it comes with various schedules and variations tailored to different taxpayer needs. Let's delve into the details. 1. Form 1040: The U.S. Individual Income Tax Return Form 1040 is the standard form used by U.S. citizens or residents to file their annual income tax return. It captures details about a taxpayer's income, deductions, and credits to determine the amount of tax owed or refund due. Description: Form 1040 is the primary form for individuals to report their income, claim deductions and credits, and calculate their tax liability or refund. It's essential for all taxpayers, whether they have a simple or complex tax situation. 2. Instructions for Form 1040 For those who need guidance on completing Form 1040, the IRS provides Instructions for Form 1040. This document offers a step-by-step guide on how to fill out the form, ensuring accuracy and compliance. Description: A comprehensive guide that provides line-by-line instructions for filling out Form 1040, ensuring that taxpayers understand each section and its relevance. 3. Form 1040-SR: U.S. Tax Return for Seniors Recognizing the unique needs of senior citizens, the IRS introduced Form 1040-SR, a version of the tax return specifically designed for taxpayers aged 65 or older. It's similar to the standard Form 1040 but has a larger font and a more senior-friendly design. Description: An alternative to the standard Form 1040, Form 1040-SR is tailored for seniors, offering a clearer layout and larger print. It uses the same schedules and instructions as Form 1040. 4. Form 1040 (Schedule 1): Additional Income and Adjustments to Income For taxpayers with additional sources of income or adjustments that aren't directly reported on Form 1040, there's Schedule 1. This schedule captures additional income sources like alimony, business income, and unemployment compensation. Description: Schedule 1 is an addendum to Form 1040, capturing additional income and adjustments not directly reported on the main form. 5. Form 1040 (Schedule 2): Additional Taxes Schedule 2 is used by taxpayers who have additional taxes that aren't entered directly on Form 1040. This might include the Alternative Minimum Tax or household employment taxes. Description: An extension of Form 1040, Schedule 2 is for reporting additional taxes not directly captured on the main form. 6. Form 1040 (Schedule 3): Additional Credits and Payments For those with additional credits or payments not directly reported on Form 1040, Schedule 3 is the go-to document. This can include credits for child and dependent care expenses, education credits, and foreign tax credits. Description: Schedule 3 complements Form 1040 by capturing additional credits and payments not directly reported on the primary form. 7. Schedule A (Form 1040): Itemized Deductions Taxpayers who choose to itemize their deductions, rather than take the standard deduction, will need Schedule A. This schedule allows for the itemization of deductions such as medical expenses, state and local taxes, and charitable contributions. Description: Schedule A is for taxpayers itemizing their deductions, offering a detailed breakdown of eligible expenses that can reduce taxable income. Conclusion Navigating the tax landscape can be challenging, but understanding the various forms and schedules associated with Form 1040 can make the process smoother. Whether you're a standard taxpayer, a senior, or someone with complex financial situations, the IRS provides the necessary tools and instructions to ensure you can file your taxes accurately and efficiently. Always consult with a tax professional if you're unsure about any aspect of your tax return. -- Justin Scott Chief Marketing Officer 850-888-3393 justin@bosseo.com https://bosseo.com

Understanding IRS Form 1040 and Its Variations The Internal Revenue Service (IRS), the federal agency that collects taxes and administers the Internal Revenue Code, uses various forms to streamline the tax process. Among these, Form 1040, or the U.S. Individual Income Tax Return, is one of the most commonly used. This form allows U.S. taxpayers […]

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required Tax-exempt and governmental entities, including those that were generally unable to use tax credits previously, can now benefit from clean energy tax credits using new options enabled by the Inflation Reduction Act of 2022. Elective pay makes certain clean energy tax credits effectively refundable. For tax years beginning after December 31, 2022, an applicable entity that qualifies for a clean energy tax credit can make an elective payment election. This election will treat certain credits as a payment against their federal income tax liabilities rather than as a nonrefundable credit. This payment will first offset any tax liability of the entity and any excess will be refundable. Applicable entities generally include tax-exempt organizations, state and local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee Valley Authority and rural electric cooperatives. Specific criteria for each type of applicable entity are included in the resources below. The Internal Revenue Service issued proposed regulations describing rules and definitions concerning elective payments for the clean energy tax credits. The IRS has also issued temporary regulations regarding the pre-filing registration requirements for taxpayers planning to make an elective payment election. The pre-filing registration process must be completed, and a registration number received, prior to making an elective payment election on an annual tax return. Entities for which no such return is required (such as state and local governments and Indian tribal governments) will file Form 990-T to make the elective payment election. An elective payment election may only be made on a timely filed return (including extensions). Applicable entities will need their own Employer Identification Number (EIN) or Tax Identification Number (TIN) to complete the pre-filing registration process. Applicable entities cannot use or borrow the EIN of a related entity. To apply for an EIN online, visit IRS.gov/EIN. The IRS is continuing to work to implement the elective payment process and will provide more information, including about the pre-filing registration process, in late 2023. For more information on elective pay, the IRS has posted Frequently Asked Questions that discuss eligibility, applicable credits, steps for completing pre-file registration, steps for making an election, and other rules. Additionally, the IRS has a series of publications with key information specifically for various types of applicable entities that may make an elective payment election, including information on how to make the elective pay election and what to do to receive a payment: Elective Pay Overview, Publication 5817 (PDF) Rural Electric Cooperatives, Publication 5817-A (PDF) U.S. Territorial Governments, Publication 5817-B (PDF) Alaska Native Corporations, Publication 5817-C (PDF) Tax-Exempt Organizations, Publication 5817-D (PDF) State and Local Government, Publication 5817-E (PDF) Indian Tribal Governments, Publication 5817-F (PDF) Clean Energy Tax Incentives: Elective Pay Eligible Tax Credits, Publication 5817-G (PDF) The tax-exempt bond community can find answers to many questions at IRS.gov/bonds. If you’re unable to find answers to account-specific questions, call Customer Account Services at 877-829-5500. If you know someone who wants to subscribe to the TEB Community Update, forward this message to them to subscribe. To subscribe to other IRS news, click IRS Newsletters or IRS Social Media. This message was distributed automatically from the TEB Community Update mailing list. Please do not reply to this message.

Understanding Elective Payments of Credits under the Inflation Reduction Act: The Importance of Pre-file Registration and Timely Filing In a significant development for tax-exempt and governmental entities, the Inflation Reduction Act of 2022 has ushered in new opportunities to benefit from clean energy tax credits. This is particularly beneficial for entities that were previously unable […]

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required

Understanding Elective Payments of Credits under the Inflation Reduction Act: The Importance of Pre-file Registration and Timely Filing In a significant development for tax-exempt and governmental entities, the Inflation Reduction Act of 2022 has ushered in new opportunities to benefit from clean energy tax credits. This is particularly beneficial for entities that were previously unable […]

#ICYMI Top CI Stories from the Past Week

Recap: Noteworthy IRS Criminal Investigation Highlights from Last Week In case you missed it, here’s a rundown of the most significant stories from the IRS Criminal Investigation (CI) division during the week of September 25 to October 1, 2023. 1. Celebrating Hispanic Heritage Month Diversity is the cornerstone of our strength. The IRS CI proudly […]

The possible impact of tax debts on retirement funds

Owing back taxes to the IRS can be stressful. It is understandable to feel overwhelmed not only by owing back taxes but also by the amount of information out there about what to do about it. Paying back taxes It is critical to understand the importance of paying back taxes while at the same time […]

A Guide to Removing an IRS Tax Lien

Failing to pay your taxes can create many problems, some of the problems that it can create include the IRS placing a lien on your property to ensure they are paid back. A tax lien essentially makes it impossible for you to sell or refinance your home until the IRS is paid. If you cannot […]

How the Economy and Inflation Affect Your Taxes

FIRPTA

The tax code is complex and ever-changing. It’s challenging to keep up with the latest changes, especially when it comes to filing your taxes. Tax season brings a lot of stress for many Americans, as they scramble to meet the April deadline and figure out if they qualify for any special deductions or credits.But understanding […]

What if I Can’t Pay My Installment Agreement?

installment agreement

If you are unable to fully pay your tax debt, you may be able to establish a payment plan. There are two types of payment plans: Short-term payment plan: The IRS offers additional time (up to 180 days) to pay in full. It’s not a formal payment option, so there’s no application and no fee, but […]