Page 112 - Small Business Taxes

16:31 - 2-Feb-2023
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Fileid: … tions/p535/2022/a/xml/cycle01/source
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
represent your identity, such as your name abuse. The FTC’s website provides free infor- • Use the Offer in Compromise Pre-Qualifier
or SSN. If the IRS suspects tax ID theft, the mation on a variety of consumer topics, in Eng- to see if you can settle your tax debt for
agency will send a 5071C letter to your lish and in Spanish. less than the full amount you owe. For
home address. If you receive this letter, Consumer complaints regarding interna- more information on the Offer in Compro-
verify your identity at IDVerify.IRS.gov or tional scams can be reported online through mise program, go to IRS.gov/OIC. If you
call the toll-free number listed in the letter. Econsumer.gov. These are also entered into are a sole proprietor or independent con-
If you did not receive an IRS notice but be- Consumer Sentinel, the complaint database tractor, apply for a payment agreement as
lieve you’ve been the victim of ID theft, maintained by the FTC, and are made available an individual.
contact the IRS Identity Protection Special- to enforcers and regulators in countries with
ized Unit at 800-908-4490 right away so participating agencies. Those agencies may Filing an amended return. Go to IRS.gov/
we can take steps to secure your tax ac- use the complaints to investigate cross-border Form1040X for information and updates.
count and match your SSN or ITIN. issues, uncover new scams, pursue regulatory
• Also, fill out and submit the IRS Form or enforcement actions, and spot consumer Checking the status of an amended return.
14039, Identity Theft Affidavit. Please write trends. Go to IRS.gov/WMAR to track the status of
legibly and follow the directions on the Form 1040-X amended returns.
back of the form that relate to your specific Ways to check on the status of your refund.
circumstances. • Go to IRS.gov/Refunds. Note. It can take up to 3 weeks from the
• If you are a victim of state tax ID theft, con- • Download the official IRS2Go app to your date you filed your amended return for it to
tact your state's taxation department or mobile device to check your refund status. show up in our system, and processing it can
comptroller's office about the next steps • Call the automated refund hotline at take up to 16 weeks.
you need to take. 800-829-1954.
• You should protect the information that you Filing past due tax returns. File all tax re-
keep, and properly dispose of what you no Note. The IRS can’t issue refunds before turns that are due, regardless of whether or not
longer need. And, of course, you should mid-February for returns that claimed the EIC or you can pay in full. File your past due return the
create a plan to respond to security inci- the additional child tax credit (ACTC). This ap- same way and to the same location where you
dents. As part of its long-standing efforts to plies to the entire refund, not just the portion as- would file an on-time return. If you have re-
promote good data security practices, the sociated with these credits. ceived a notice, make sure to send your past
Federal Trade Commission (FTC) has un- due return to the location indicated on the no-
dertaken extensive efforts to educate busi- Making a tax payment. Go to IRS.gov/ tice you received. If you have a past due return,
nesses and has brought more than 50 law Payments for information on how to make a filing your past due return now can help you do
enforcement actions related to data secur- payment using any of the following options. the following.
ity issues. For more information, see Pro- • IRS Direct Pay: Pay your individual tax bill • Avoid interest and penalties. File your
tecting Personal Information: A Guide for or estimated tax payment directly from past due return and pay now to limit inter-
Business, available at FTC.gov/Tips- your checking or savings account at no est charges and late payment penalties.
advice/business-center/guidance/ cost to you. • Claim a refund. You risk losing your re-
protecting-personal-information-guide- • Debit or Credit Card: Choose an approved fund if you don't file your return. If you are
business, for practical tips on creating and payment processor to pay online or by due a refund for withholding or estimated
implementing a plan for safeguarding per- phone. taxes, you must file your return to claim it
sonal information used in your business. • Electronic Funds Withdrawal: Schedule a within 3 years of the return due date. The
Most recently, the FTC released Start with payment when filing your federal taxes us- same rule applies to a right to claim tax
Security: A Guide for Business, available ing tax return preparation software or credits such as the EIC. We hold income
at FTC.gov/Tips-advice/business-center/ through a tax professional. tax refunds in cases where our records
guidance/start-security-guide-business? • Electronic Federal Tax Payment System: show that one or more income tax returns
utm_source=govdelivery, which draws on Best option for businesses. Enrollment is are past due. We hold them until we get
the lessons learned from the FTC's en- required. the past due return or receive an accepta-
forcement actions. • Check or Money Order: Mail your payment ble reason for not filing a past due return.
The IRS, the states, and the tax industry to the address listed on the notice or in- • Protect social security benefits. If you
are self-employed and do not file your fed-
joined together to enact new safeguards and structions. eral income tax return, any self-employ-
take additional actions to combat tax-related • Cash: You may be able to pay your taxes ment income you earned will not be repor-
identity theft. Many of these safeguards will be with cash at a participating retail store. ted to the SSA and you will not receive
invisible to you, but invaluable to our fight • Same-Day Wire: You may be able to do credits toward social security retirement or
against these criminal syndicates. If you pre- same-day wire from your financial institu- disability benefits.
tion. Contact your financial institution for
pare your own return with tax software, you will • Avoid issues obtaining loans. Loan ap-
see new log-on standards. Some states also availability, cost, and time frames. provals may be delayed if you don't file
have taken additional steps. See your state Note. The IRS uses the latest encryption your return. Copies of filed tax returns must
revenue agency’s web site for additional de- technology to ensure that the electronic pay- be submitted to financial institutions, mort-
tails. ments you make online, by phone, or from a gage lenders/brokers, etc., whenever you
The FTC works for consumers to prevent mobile device using the IRS2Go app are safe want to buy or refinance a home, get a loan
fraudulent, deceptive, and unfair business prac- and secure. Paying electronically is quick, easy, for a business, or apply for federal aid for
tices and to provide information to help spot, and faster than mailing in a check or money or- higher education.
stop, and avoid them. To file a complaint, for der.
example, to report someone falsely claiming to For more information, go to Filing Past Due
be from the government, a business, or a family What if I can’t pay now? Go to IRS.gov/ Tax Returns on IRS.gov.
member, visit the FTC’s online Report Fraud Payments for more information about your op-
Assistant or call 877-FTC-HELP tions. Substitute return. If you fail to file voluntarily,
(877-382-4357). The FTC enters complaints • Apply for an online payment agreement we may file a substitute return for you, based on
into Consumer Sentinel, a secure, online data- (IRS.gov/OPA) to meet your tax obligation income reported to the IRS. This return might
base available to more than 2,000 civil and in monthly installments if you can’t pay not give you credit for deductions and exemp-
criminal law enforcement agencies in the United your taxes in full today. Once you complete tions you may be entitled to receive. We will
States and abroad. Complaints from consumers the online process, you will receive imme- send you a Notice of Deficiency CP3219N
help the FTC detect patterns of fraud and diate notification of whether your agree- (90-day letter) proposing a tax assessment.
You will have 90 days to file your past due tax
ment has been approved. return or file a petition in Tax Court. If you do
neither, we will proceed with our proposed

Chapter 12 How To Get Tax Help Page 53