​With hurricane season underway, the Internal Revenue Service is reminding taxpayers that criminals and scammers often try to take advantage of the generosity of taxpayers who want to help victims of major disasters.

Hurricane season runs June 1 to Nov. 30, and taxpayers need to be vigilant of scams that will undoubtedly pop up when and if a hurricane occurs during that time.

Fraudulent schemes normally start with unsolicited contact by telephone, social media, e-mail or in-person using a variety of tactics.

• Some impersonate charities to get money or private information from well-intentioned taxpayers.
• Bogus websites use names similar to legitimate charities to trick people to send money or provide personal financial information.
• They even claim to be working for or on behalf of the IRS to help victims file casualty loss claims and get tax refunds.
• Others operate bogus charities and solicit money or financial information by telephone or email.

Help for disaster victimsDisaster victims can call the IRS toll-free disaster assistance telephone number (866-562-5227). Phone assistors will answer questions about tax relief or disaster-related tax issues. Details on available relief can be found on the disaster relief page on IRS.gov.
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Donate to real charitiesTo help taxpayers donate to legitimate charities, the IRS website, IRS.gov, has a search feature, Tax Exempt Organization Search, that helps users find or verify qualified charities. Donations to these charities may be tax-deductible.

• Contribute by check or credit card, never give or send cash, to have a record of the tax-deductible donation.
• Don’t give out personal financial information — such as Social Security numbers or credit card and bank account numbers and passwords — to anyone who solicits a contribution.

Taxpayers suspecting fraud by email should visit IRS.gov and search for the keywords “Report Phishing.” More information about tax scams and schemes may be found at IRS.gov using the keywords “scams and schemes.”

2018 brings DRAMATIC changes to federal tax law, so we are providing a review of these changes well in advance of tax return time.  As always, please be in touch with any questions about this, or any other tax matters.
 
Income tax brackets have changed. The old 10%, 15%, 25%, 28%, 33%, 35%, and 39.6% brackets have been restructured to 10%, 12%, 22%, 24%, 32%, 35%, and 37%. These new percentages are slated to apply through 2025.
​Read on to discover the taxable income thresholds for these brackets in 2018:

IRS Options If You Cannot Pay Your Taxes
Although the IRS always prefers that you find a way to pay your taxes in full, circumstances can sometimes prevent that from happening. If you find yourself in this predicament, the IRS does have options available to help you resolve your tax debt. Depending on your situation, you may be able to request an installment agreement, an offer in compromise, a temporary delay of collection, or an extension of time to pay.

​Obviously, the best solution for past due taxes is to pay the entire debt as quickly as possible. Remember that penalties and interest will continue to accrue until your balance is fully paid – the IRS does not necessarily waive these late fees, even if you set up an approved payment arrangement.

In some cases, it is actually more affordable to pay your tax debt using a personal loan or credit card(s), which often charge lower fees than the IRS.