Editorial team of TFX
Articles
Taxpayers Using the Streamlined Procedure May Be Subject to More Than Three Years of Tax Return Filings
Streamlined Procedure — Penalty-free Catch Up The IRS started the Streamlined Procedure (SFOP) in 2014, giving delinquent taxpayers a great opportunity to catch up with US tax filing obligations and hav...
IRS Warns Letter 6419 May Contain Incorrect Information About Child Tax Credits
This tax season many taxpayers should expect to receive letters 6419 & letter 6475 - however, during a conference call on Monday, Jan 24, the IRS indicated that letter 6419 may contain inaccurate information for many taxpayers. ...
(update) IRS Requires New ID.me Facial Recognition System
updated - Mar 3, 2023 The IRS has finally shifted its online services for tax professionals to a third-party authentication software company called ID.me. As a result, accountants will need to create an ID.me account to access the IRS website. An ID.me Account Now is a Must Th...
IRS Letter 6475 and 6419: What You Need To Know Before Filing Your 2021 Tax Return
Nobody likes getting mail from the IRS, but here's one letter that you do not want to accidentally toss out: In the coming weeks, the revenue services will begin sending out correspondence about the third stimulus checks and advance child tax credit, which was distributed in 2021. Do not throw away any IRS letter you may receive<...
Lookout for Advance Child Tax Credit Letter
There have been important changes to the Child Tax Credit that allowed families to receive advance payments in 2021. Families with qualifying children received financial assistance during the year rather than waiting fo...
Tax Guide for Saudi Arabian Expats in the U.S.
The tax system in the United States is complicated and continuously evolving. Most Americans struggle to grasp their tax duties, and foreign immigrants living in the United States are even more perplexed. If you are a Saudi expat living in the United States, you may have some questions about paying taxes and completing your federal inco...