e-News for Tax Professionals Issue 2015-31
Internal Revenue Service (IRS) sent this bulletin at 08/07/2015 03:32 PM EDT
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Issue Number: 2015-31Inside This Issue
1. Failing to File 2014 Tax Returns Affects Advance Payments of Premium Tax Credit in 2016 Remind your clients who received advance payments of the premium tax credit in 2014 that they should file their 2014 tax return as soon as possible this summer, even if they have an extension, to protect their eligibility for advance payments from their Marketplace in 2016. Depending on the situation the IRS is currently sending Letter 5591, Letter 5591A or Letter 5596 to taxpayers who received 2014 advance payments, but have not yet filed their tax return. The letters remind taxpayers of the importance of filing their 2014 federal tax return along with Form 8962, Premium Tax Credit, as soon as possible. For more information, see Understanding your Letter 5591, Understanding your Letter 5591A, Understanding your Letter 5596 and the ACA What’s Trending page. 2. IRS Warns Taxpayers to Guard Against New Tricks by Scam Artists; Losses Top $20 Million Following the emergence of new variations of widespread tax scams, the Internal Revenue Service issued another warning to taxpayers to remain on high alert and protect themselves against the ever-evolving array of deceitful tactics scammers use to trick people. 3. IRS FBAR Reference Guide New IRS FBAR Reference Guide is available on IRS.gov. This IRS Reference Guide on the Report of Foreign Bank and Financial Accounts provides assistance to U.S. persons who have the obligation to file the FBAR; and to the tax professionals who prepare and electronically file FBAR reports on behalf of their clients.
4. Tax Relief for Victims of Typhoon Soudelor in the Commonwealth of the Northern Mariana Islands Victims of Typhoon Soudelor that began on August 1, 2015 in parts of the Commonwealth of the Northern Mariana Islands may qualify for tax relief from the Internal Revenue Service. Thank you for subscribing to e-News for Tax Professionals an IRS e-mail service. If you have a specific concern about your client's tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the mailing list e-News for Tax Professionals. Please Do Not Reply To This Message To subscribe to or unsubscribe from another list, please go to the e-News Subscriptions page on the IRS Web site. |