Monthly Archives: May 2021

2021-05-28 IRS Tax Tip 2021-75, May 26, 2021 All taxpayers should review their federal withholding each year to make sure they're not having too little or too much tax withheld. Employees, retirees and self-employed individuals can use the IRS Tax Withholding Estimator to help decide if they should make a change to their withholding. This online tool guides users, step-by-step through the process of checking their withholding, and provides withholding recommendations…

2021-05-28 The IRS launched an improved Tax Withholding Estimator tool last summer to make it easier for everyone to have the right amount of tax withheld during the year. This is especially important for anyone who faced an unexpected tax bill or a penalty when they filed this year. It's also an important step for those who made withholding adjustments in 2020, had a major life change or were adversely…

2021-05-28 Under the shift in procedure, there is a new division of duties. SB/SE’s Automated Collection System (ACS) will now exclusively resolve collection issues The IRS updated the PPS automated recording to say: “If your client's account is in Automated Collection System status, ACS, or you need to address balance due issues, press or say 4.” Practitioner Priority Service assistors will not be able to take any actions for collection…

2021-05-19 Every filing season, millions of taxpayers have their refunds delayed. Where’s My Refund feature on IRS.gov and on the IRS2Go app provide information to taxpayers as to the status of their refunds. Processing Station: First Level of Return Reviews Takes Place Even Before They Post to IRS Systems Once a return is filed with the IRS and before it posts to IRS systems, it will go through a series…