JN Income Tax & Notary Public

05/27/2024

Have a Safe Memorial Day, Happy Holiday To All Facebook's Friends !

01/09/2024

01/05/2024

IRS: Don’t be victim to a "ghost" tax return preparer

The IRS warns taxpayers to avoid unethical tax return preparers, known as ghost preparers. A ghost preparer is someone who doesn't sign tax returns they prepare. Not signing a return is a red flag that the paid preparer may be looking to make a quick profit by promising a big refund or charging fees based on the size of the refund.

12/14/2023

https://www.irs.gov/newsroom/irs-announces-delay-in-form-1099-k-reporting-threshold-for-third-party-platform-payments-in-2023-plans-for-a-threshold-of-5000-for-2024-to-phase-in-implementation

IR-2023-221, Nov. 21, 2023 — Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service today released Notice 2023-74 announcing a delay of the new $600 Form 1099-K reporting threshold for third party settlement organi...

12/14/2023

https://www.irs.gov/newsroom/irs-opens-2023-dirty-dozen-with-warning-about-employee-retention-credit-claims-increased-scrutiny-follows-aggressive-promoters-making-offers-too-good-to-be-true

IR-2023-49, March 20, 2023 — In a further warning to people and businesses, the Internal Revenue Service added widely circulating promoter claims involving Employee Retention Credits as a new entry in the annual Dirty Dozen list of tax scams.

12/07/2023

IR-2023-230, Dec. 6, 2023 — As part of continuing efforts to combat dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service is sending an initial round of more than 20,000 letters to taxpayers notifying them of disallowed ERC claims.

12/04/2023

Extended the cancellation of qualified principal residence indebtedness exclusion from
gross income through the end of 2025.

11/17/2023

https://www.irs.gov/newsroom/irs-reminds-eligible-2020-and-2021-non-filers-to-claim-recovery-rebate-credit-before-time-runs-out

IR-2023-217, Nov. 17, 2023 — The Internal Revenue Service is reminding those who may be entitled to the Recovery Rebate Credit to file a tax return and claim their money before it’s too late.

11/07/2023

401(k) Limit Increases To $23,000 For 2024, IRA Raises To $7,000

10/18/2023

ALERT: Beginning October 19, 2023, a reduced PTIN fee will go into effect for all (current and prior year) PTIN registrations and renewals.

09/22/2023

The SECURE 2.0 Act increased the age to 73 in 2023 and established an additional increase that will bring the starting age to 75 by 2033. RMDs continue for the retirement account owner's lifetime and generally affect the account's beneficiaries.

07/22/2023

https://www.irs.gov/newsroom/taxpayers-see-wave-of-summer-email-text-scams-irs-urges-extra-caution-with-flood-of-schemes-involving-economic-impact-payments-employee-retention-credits-tax-refunds

IR-2023-131, July 21, 2023 — The Internal Revenue Service warned taxpayers today to be on the lookout for a summer surge of tax scams as identity thieves continue pounding out a barrage of email and text messages promising tax refunds or offers to help ‘fix’ tax problems.