IRS Tools: Tax Deductible Charitable Donations Search

Taxpayers can now check if their charitable donation is tax deductible by using the IRS’ TEOS tool. As stated on the IRS website, the “Tax Exempt Organization Search” gives taxpayers the chance to search for tax exempt organizations and charities. This allows one to determine if any donations made can be considered tax deductible chartable contributions.The IRS website also lists…

IRS & Foreign Owners of US Real Property

If you are a foreign owner of US property, this article provided by the Witherworldwide real estate think tank and Paul Sczudlo entitled “The IRS further targets foreign owners of US real property” may be of interest to you: With the impact of rampant U.S. federal government stimulus spending to address the coronavirus pandemic and the continuing impact of tax…

Where is My Economic Impact Payment and Other Frequently Asked Questions

If you have been wondering when your Economic Impact Payment is arriving, you are not alone! The IRS has been sending payments through direct deposit over the last few weeks, while distribution of checks will begin this week. Where Can I Check My Payment Status or Add Bank Information?  On the IRS Economic Impact Payments web page! Click on the…

Foreign Investment in Real Property Tax Act (FIRPTA) – What You Should Know

[caption id="attachment_1269" align="aligncenter" width="1000"] Foreign Investment in Real Property Tax Act (FIRPTA) - What You Should Know[/caption] The Foreign Investment in Real Property Tax Act, also known as FIRPTA, is a tax act that has been around since the 1980’s. This act is designed for the government to protect property interests in the United States, therefore regulating foreign investments in…

Tax Scams: IRS “Dirty Dozen” List for the 2016 Filing Season

WASHINGTON — Aggressive and threatening phone calls by criminals impersonating IRS agents remain a major threat to taxpayers, headlining the annual "Dirty Dozen" list of tax scams for the 2016 filing season, the Internal Revenue Service announced today. [caption id="attachment_1186" align="alignright" width="300"] Tax Scams[/caption] The IRS has seen a surge of these phone scams as scam artists threaten police arrest,…