Form 1040 of 1941

The New Postcard Return that Never Was?

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Treasury Secretary Steven Mnuchin said that the new promised postcard return will be released this week. The New York Times has reportedly obtained a draft of the new Form 1040 and posted it in their news article on Monday. The current two-page form is condensed into one page by introducing various new schedules that need […]

Identity Theft Risks from Equifax Data Breach

Identity Theft Risks from Equifax Data Breach

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During the National Public Liaison (NPL) Practitioner meeting in September, the IRS discussed the extent of the Equifax data breach, its implications in terms of tax-related identity theft, and the safeguards in place. It is estimated that roughly 143 million taxpayers are affected. According to IRS, the data breach exposed names, SSNs and mailing addresses; […]

no us passport with unpaid taxes

No US Passport with Unpaid Taxes

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Revocation or Denial of US Passport in Case of Certain Unpaid Taxes The IRS has provided further details on the implementation of a provision within the Fixing America’s Surface Transportation Act of 2015, the “FAST Act,”, which could significantly curtail the ability of Americans with “seriously delinquent tax debt” to work, live, and travel overseas. IRC § 7345 […]