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Estimated Tax Deadline: June 17th! ⏰ Don't get caught off guard. File with us now for payment options, calculators, and more!

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The Department of Treasury and IRS have announced the opening of the application portal for the 2024 Low-Income Communities Bonus Credit Program.This program offers a tax credit for solar and wind facilities located in low-income communities. The credit is available to facilities under five megawatts that apply for and receive an allocation of environmental justice solar and wind capacity limitation. TaxShield can help - contact us at (844) 621-1040.

Living abroad & filing US taxes? The deadline to file your 2023 return is June 17th! Don't miss out on potential tax benefits. Learn more & get help: (844) 621-1040

This , we remember the brave heroes who made the ultimate sacrifice for our freedom. Their courage and dedication continue to inspire us all. 🇺🇸 TaxShield is proud to support veterans and their families.

The IRS warns many haven't filed 2020 taxes, missing refunds & valuable credits like the EITC and Recovery Rebate Credit. Don't let the deadline (May 17th) pass you by! According to the IRS, billions in refunds and credits remain unclaimed. TaxShield can help you navigate the process and ensure you get every penny you deserve. Call TaxShield today at (844) 621-1040 to speak with a tax expert. We'll maximize your refund based on IRS guidelines!

Don't let your 2020 tax refund become a lost cause! The deadline to claim is May 17th. Unlike 2020 itself, this is something you WANT to revisit. TaxShield can help you file quickly, accurately, and maximize your return. Call us today at (844) 621-1040 for a free consultation!

A heartfelt thank you to everyone for your incredible support during the TaxShield Got Talent Contest! 🙏 Your enthusiasm and participation made the event a huge success. Stay tuned for more exciting promotions and opportunities in the future. Your continued support fuels our passion to serve you better!

Stay tuned to our page for future updates and promotions. For any questions or inquiries, feel free to reach out to us.

Are you ready? Tomorrow is the big day! Join us tomorrow as we reveal the winners and celebrate their achievements! Don't miss out on the big reveal. Stay tuned to see who will take home $2000, $1000, and the People's Choice Award of $500! Comment your winner below!

Reduce your tax bill by leveraging deductions. Learn how to slash your taxable income and keep more of your hard-earned money. Don't miss out on potential savings! Follow for expert tips or call now. 🚀 Follow our page for valuable insights or call us at (844) 621-1040.

Haven't filed your taxes yet? No problem! TaxShield is open and ready to assist you. Our team of experts is dedicated to making the process smooth and hassle-free. Don't delay - file with us today!

Let's make it a reality! Imagine you could design your own tax form. Share your ideas for changes or improvements you'd love to see. Your input could shape the future of tax filing!

Did you know that many taxpayers miss out on valuable deductions every year?

One often overlooked deduction is the Home Office Deduction, which can help self-employed individuals save on taxes by deducting expenses related to their home office space.

Make sure you're not leaving money on the table this tax season – explore more tips like this by contacting us at (844) 621-1040.

𝐃𝐢𝐝 𝐲𝐨𝐮 𝐤𝐧𝐨𝐰 𝐭𝐡𝐚𝐭 𝐦𝐚𝐧𝐲 𝐭𝐚𝐱𝐩𝐚𝐲𝐞𝐫𝐬 𝐦𝐢𝐬𝐬 𝐨𝐮𝐭 𝐨𝐧 𝐯𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐝𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐞𝐯𝐞𝐫𝐲 𝐲𝐞𝐚𝐫?One often overlooked deduction is the Home Office Deduction, which can help self-employed individuals save on taxes by deducting expenses related to their home office space. Make sure you're not leaving money on the table this tax season – explore more tips like this by 𝐜𝐨𝐧𝐭𝐚𝐜𝐭𝐢𝐧𝐠 𝐮𝐬 𝐚𝐭 (𝟖𝟒𝟒) 𝟔𝟐𝟏-𝟏𝟎𝟒𝟎.

🌟 Thanks for Your Support! 🌟

We're deeply grateful for your support this tax season! Your trust means everything to us. Ready to experience it yourself? Message us or call us today!

Today is the last chance to file your taxes!

Feeling overwhelmed? Don't worry, TaxShield is here to help you breeze through. Comment 'Filed' if you're done or call us at (844) 621-1040 for assistance! Let's tackle Tax Day together!

As tax season wraps up, we'd love to hear from you! What did you learn?

Share your filing journey with us in the comments. Smooth sailing or challenges, we're all ears. Let's start a conversation!

🚨 TAX DAY ALERT! Today's your last chance to file with TaxShield's expert guidance! DON'T MISS YOUR DEADLINE—call (844) 621-1040 NOW!

Tax season is approaching! Here's why you need a tax prep service like TaxShield: accurate deductions, personalized advice, IRS representation, and avoiding penalties. Don't navigate tax season alone—call us at (844) 621-1040 for expert assistance!

🚨 Beware of Tax Advice on Social Media! 🚨

Don't fall for misleading tax tips on social media! 🛑 Scammers may try to trick you into filing false tax returns using bogus advice. Be cautious of schemes suggesting you manipulate Form W-2 or Form 8944 for a bigger refund. Stick to trusted sources like the IRS website or certified tax professionals for accurate tax guidance. Stay informed, stay safe!

Need reliable tax advice? DM us now or hit the follow button for updates! 📩

With Tax Day approaching, don't delay in preparing your taxes to avoid penalties! Trust TaxShield for expert tax preparation services, including easy filing, accurate deductions, personalized advice, and IRS representation. Call us at (844) 621-1040 to get started today!

HEALTH IS WEALTH
We encourage you to take care of yourself and reach out for help if you need it.

IRS imposes immediate halt on ERC program

The IRS has imposed an immediate halt on processing new claims for the Employee Retention Credit (ERC) until the end of the year due to escalating concerns over a surge in improper applications. IRS Commissioner Danny Werfel initiated this moratorium to protect honest small businesses from potential scams. While previously submitted ERC claims will still be processed, they will face increased scrutiny, resulting in longer processing times. The IRS is also ramping up efforts to review claims for compliance issues and has launched criminal investigations into suspicious claims, with hundreds of cases currently under examination and thousands referred for audit.

Valid ERC claims will still be paid out during the moratorium, albeit at a slower pace due to more thorough compliance reviews. The standard 90-day processing time for existing claims will extend to 180 days or possibly longer if further scrutiny or an audit is required. Taxpayers might also be asked for additional documentation to substantiate legitimate claims.

Businesses are advised to be cautious and carefully review ERC guidelines, particularly during the moratorium. They should consult trusted tax professionals for advice and steer clear of promoters seeking substantial contingency fees. The IRS is also finalizing details for a special withdrawal option for businesses with pending ERC claims.

Ultimately, the IRS is escalating efforts to protect against fraud and revenue loss, emphasizing the significance of adhering to ERC requirements. Businesses should be mindful that improper claims may need to be repaid, potentially incurring penalties and interest. This could place them in a worse financial situation than if they hadn't claimed the credit at all.

Source: https://hubs.li/Q022ktjY0

Beware of 'IRS' Mailing Scam

The Internal Revenue Service warned taxpayers today to be on the lookout for a new scam mailing that tries to mislead people into believing they are owed a refund.

The new scheme involves a mailing coming in a cardboard envelope from a delivery service. The enclosed letter includes the IRS masthead and wording that the notice is "in relation to your unclaimed refund."

Like many scams, the letter includes contact information and a phone number that do not belong to the IRS. But it also seeks a variety of sensitive personal information from taxpayers – including detailed pictures of driver's licenses – that can be used to by identity thieves to try obtaining a tax refund and other sensitive financial information.

"This is just the latest in the long string of attempts by identity thieves posing as the IRS in hopes of tricking people into providing valuable personal information to steal identities and money, including tax refunds," said IRS Commissioner Danny Werfel. "These scams can come in through email, text or even in special mailings. People should be careful to watch out for red flags that clearly mark these as IRS scams."

The Security Summit continue to warn people to protect their personal information to protect against tax-related identity theft as well as scams like this.

In this new scam, there are many warning signs that can be seen in many similar schemes via email or by text. An unusual feature of this scam is that it tries tricking people to email or phone very detailed personal information in hopes of stealing valuable information.

The letter proceeds for sensitive information including cellphone number, bank routing information, Social Security number and bank account type, followed by a poorly worded warning: "You'll Need to Get This to Get Your Refunds After Filing. These Must Be Given to a Filing Agent Who Will Help You Submit Your Unclaimed Property Claim. Once You Send All The Information Please Try to Be Checking Your Email for Response From The Agents Thanks"

This letter contains a variety of warning signs, including odd punctuation and a mixture of fonts as well as inaccuracies.

🇺🇸 Happy 4th of July! 🎆

🔒 Protect your financial freedom with TaxShield! 🛡️💼

This Independence Day, celebrate your financial independence with TaxShield. We're here to shield you from the tax burdens and keep your hard-earned money secure. 🏦💰

🔒 Shield your finances. Protect your future.
🇺🇸 Enjoy the fireworks, and leave the tax worries to us! 💥🎇

Time is Running Out: Taxpayers missing $1.5 billion in refunds for 2019 must file by July 17th

The IRS is urging nearly 1.5 million individuals in the United States to file their tax returns for the 2019 tax year and claim their refunds by the July 17, 2023, deadline. The IRS estimates that approximately $1.5 billion in refunds remain unclaimed for 2019. Each state has a specific estimate of eligible individuals and the median potential refund for that state, with the average median refund being $893.

Normally, taxpayers have three years to file and claim their tax refunds. If they fail to do so within this timeframe, the money becomes the property of the U.S. Treasury. However, for 2019 tax returns, individuals have more time to file and claim their refunds. The usual deadline for claiming old refunds falls around the April tax deadline. However, due to the COVID-19 pandemic, the three-year window for unfiled 2019 returns was extended to July 17, 2023.

Claiming the refund is especially important for low- and moderate-income workers who may be eligible for the Earned Income Tax Credit (EITC). In 2019, the EITC could provide up to $6,557 in credits. The EITC assists individuals and families with incomes below certain thresholds in 2019.

Taxpayers should note that their refund checks may be withheld if they have not filed tax returns for 2020 and 2021. Additionally, the refund may be used to offset any unpaid child support, past-due federal debts (e.g., student loans), or amounts owed to the IRS or state tax agency.

To file a 2019 tax return, taxpayers can request copies of key documents like Forms W-2, 1098, 1099, or 5498 from their employer, bank, or other payers. Alternatively, they can use the Get Transcript Online tool on the IRS website to order a free wage and income transcript if they are unable to obtain the missing forms from their employers.

🎉 Happy Juneteenth! 🎊

Today, we celebrate the emancipation of enslaved African Americans in the United States. Juneteenth commemorates the day, June 19, 1865, when Union soldiers arrived in Galveston, Texas, and shared the news that slavery had been abolished. This momentous occasion marked a significant step towards freedom and equality for all.

On this Juneteenth, let us honor the resilience and strength of the Black community. It is a time to reflect on the struggles endured throughout history and acknowledge the ongoing fight against racial injustice. Juneteenth serves as a reminder that progress is possible, but there is still work to be done.

Let us use this day to listen, learn, and amplify Black voices. Educate ourselves about the contributions, achievements, and challenges faced by Black Americans. Support Black-owned businesses, artists, and organizations that enrich our communities.

Together, we can build a more inclusive and equitable society. Let us stand in solidarity, rejecting racism and discrimination in all its forms. May Juneteenth inspire us to continue the fight for justice, equality, and true freedom for everyone.

Avoiding Scams While Claiming the Employee Retention Credit (ERC)

As small businesses seek to benefit from the Employee Retention Credit (ERC), it's crucial to be cautious of scams and misinformation. Several firms have emerged to assist with ERC claims, but owners must be careful to avoid being misled.

ERC Eligibility Requirements:
To qualify for the ERC, businesses need to understand the eligibility criteria, including the impact of pandemic-related factors. This credit can provide up to $26,000 per employee, making it important not to overlook the opportunity.

Scams and Fraudulent Providers:
Scammers target businesses by promoting improper ERC claims. The IRS has warned about misleading third parties and added fraudulent ERC claims to its "Dirty Dozen" list of tax scams. These scams often rely on inaccurate information about eligibility and may collect sensitive taxpayer information for identity theft.

Preventing Issues:
To protect your business from scams and potential audits, consider the following:

1. Familiarize Yourself with ERC Requirements: Understand the basic ERC claim requirements to determine if your business qualifies. This includes factors such as a partial suspension of operations, decline in gross receipts, or being a recovery startup business

2. Watch for Red Flags: Beware of firms pressuring you to act quickly or charging hefty upfront fees or fees contingent on the refund amount. Providers not requesting documentation to validate eligibility should also raise concerns

Next Steps and Compliance:
If your business qualifies for the ERC, follow these steps:

1. File Form 941-X: Submit an amended quarterly payroll tax return, Form 941-X, for each applicable quarter to claim the credit. Be aware of the filing deadlines based on the tax year.

2. Amend Tax Returns: Adjust your applicable tax returns to report the additional income based on the year you qualified for the ERC, adhering to proper reporting procedures

Source: https://hubs.li/Q01TBd7F0

Supreme Court rules: IRS does not need to provide notice to delinquent taxpayers to collect outstanding federal taxes

The US Supreme Court ruled Thursday that the Internal Revenue Service (IRS) does not need to provide notice to delinquent taxpayers of summons made against them to collect outstanding federal taxes. This does not apply to summons to determine whether a taxpayer owes an outstanding amount, only summons to collect.

The case, Polselli v. Internal Revenue Service, concerned a delinquent taxpayer, Remo Polselli, who underpaid his federal taxes and had an outstanding balance of over $2 million. Polselli was disputing the summons he received from the IRS to collect that outstanding amount, claiming that he did not have the notice required by §7609 of the US Codes. The court unanimously determined that notice was not required because of an exception that applies to summons “served on the person with respect to whose liability the summons is issued,” interpreting this exception to include summons to collect outstanding taxes.

Writing for the court, Chief Justice John Roberts made clear that this exception only applied to summons to collect an already-determined delinquent amount, saying.

Although the court was unanimous in its holding, Justice Ketanji Brown Jackson wrote a concurring opinion stressing that the IRS’s ability to issue summons is not unrestricted. Emphasizing that “notice is not a mere formality,” Jackson noted that notice is still the default rule for summons and that the IRS is “not necessarily exempt from notice obligations any time a tax-delinquency matter enters the collection phase.” Justice Neil Gorsuch joined Jackson’s opinion.

https://hubs.li/Q01Swj2f0