Welcome to the
BOI E-Filing System

The BOI E-Filing System supports the electronic filing of the Beneficial Ownership Information Report (BOIR) under the Corporate Transparency Act (CTA). The CTA requires certain types of U.S. and foreign entities to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.

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IRS reminder to disaster victims with extensions: File 2022 returns by Feb. 15; all or parts of 8 states and 2 territories affected

WASHINGTON — The Internal Revenue Service today reminded disaster-area taxpayers who received extensions to file their 2022 returns that these returns are due on Feb. 15, 2024.

Eligible taxpayers were those affected by various disasters that occurred between Aug. 8 and Oct. 9, 2023. This included Hurricane Idalia, Hurricane Lee, Tropical Storm Bolaven, the wildfires in Hawaii, the seawater intrusion in Louisiana and storms and flooding in Illinois. For extension filers, payments on these returns were not eligible for the additional time because they were originally due last spring before any of these disasters occurred.

Locations that qualify for the Feb. 15 filing deadline:

• Forty-nine counties in Florida.
• Thirty-two counties In Georgia.
• All of Guam.
• Maui and Hawaii counties in Hawaii.
• Cook County in Illinois.
• Five parishes in Louisiana.
• All 16 counties in Maine.
• All 14 counties in Massachusetts.
• Six islands in the Northern Mariana Islands.
• All 46 counties in South Carolina.

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Protect Client Data, Learn Signs of Data Theft

Because tax professional data thefts occur regularly, tax administrators are relying on software industry partners to help communicate a consistent message. Thieves know tax pros will be busy, active on their emails and storing sensitive information on computer networks. All tax professionals should deploy strong security measures and be on high alert for theft. Everyone has a role to play in protecting taxpayer data and partnering with the software industry partner is one more venue to engage with the tax professionals. For more information, see Publication 5294

Protect Your Clients IRS Link

PTIN 갱신 기간이 12월 까지 입니다. 아직 갱신하지 않으신 분들은 서둘러서 갱신하셔서 내년 TY-24 Tax Season을 준비하세요.

PTIN Renewal TY-23

 

 

 

 

 

 

 

 

 

 

제3자 결제 기구(TPSO)는 일정한 신고 가능한 지급 거래의 결제에 있어서 이루어지는 결제와 관련하여 각 역년의 정보 신고서를 제출해야 한다. Form 1099-K, Payment Card and Third Party Network Transactions는 결제 주체가 신고 요건을 충족하기 위해 제출하는 양식이다. 고객이 신용카드를 사용하여 사업체로부터 재화나 서비스를 구매하는 경우가 대표적인 예이다.

이내용에 대한 보고를 $600이상 거래를 포함해서 하겠다고 발표를 했지만 준비기간이 더 필요해서 더 연기한다는 내용이네요.

1099-K Reporting Requirements Delayed

 

 

 

 

 

 

 

 

 

 

The Alternative Minimum Tax (AMT)

The Alternative Minimum Tax (AMT) was created in the 1960s to prevent high-income taxpayers from avoiding the individual income tax. This parallel tax income system requires high-income taxpayers to calculate their tax bill twice: once under the ordinary income tax system and again under the AMT. The taxpayer then needs to pay the higher of the two.

The AMT uses an alternative definition of taxable income called Alternative Minimum Taxable Income (AMTI). To prevent low- and middle-income taxpayers from being subject to the AMT, taxpayers are allowed to exempt a significant amount of their income from AMTI. However, this exemption phases out for high-income taxpayers. The AMT is levied at two rates: 26 percent and 28 percent.

The AMT exemption amount for 2023 is $81,300 for singles and $126,500 for married couples filing jointly (Table 3).

2023 Alternative Minimum Tax (AMT) Exemptions

Filing Status	Exemption Amount
Source: Internal Revenue Source
Unmarried Individuals	$81,300
Married Filing Jointly	$126,500

In 2023, the 28 percent AMT rate applies to excess AMTI of $220,700 for all taxpayers ($110,350 for married couples filing separate returns).

AMT exemptions phase out at 25 cents per dollar earned once AMTI reaches $578,150 for single filers and $1,156,300 for married taxpayers filing jointly (Table 4).

2023 Alternative Minimum Tax (AMT) Exemption Phaseout Thresholds

Filing Status	Threshold
Source: Internal Revenue Service.
Unmarried Individuals	$578,150
Married Filing Jointly	$1,156,300

New additions to Tax Pro Account, available through IRS.gov, will help practitioners man- age their active client authorizations on file with the Centralized Authorization File (CAF) database. Other enhancements will allow tax professionals to view their client’s tax infor- mation, including balance due amounts. Tax Pro Account users can now also withdraw from their active authorizations online in real time.

Open Book

 

 

 

 

 

 

 

 

Issue Number:    IR-2023-196

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1. IRS: Beware of fake charities; check before donating

WASHINGTON —With the tragic crises and natural disasters happening around the globe, many are responding to the call to give what they can to help. The Internal Revenue Service today warned taxpayers to be wary of criminals soliciting donations and falsely posing as legitimate charities. When fake charities scam unsuspecting donors, the proceeds don’t go to those who need the help and those contributing to these fake charities can’t deduct their donations on their tax return.

“We all want to help innocent victims and their families,” said IRS Commissioner Danny Werfel. “Knowing we’re trying to aid those who are suffering, criminals crawl out of the woodwork to prey on those most vulnerable – people who simply want to help. Especially during these challenging times, don’t feel pressured to immediately give to a charity you’ve never heard of. Check out the charity first and confirm it is authentic.”

Those who wish to make donations should use the Tax-Exempt Organization Search (TEOS) tool on IRS.gov to help find or verify qualified, legitimate charities.

With the TEOS, people can:

• Verify the legitimacy of a charity
• Check its eligibility to receive tax-deductible charitable contributions
• Search for information about an organization's tax-exempt status and filings

In addition, the IRS urges anyone encountering a fake or suspicious charity to see the FBI’s resources on Charity and Disaster Fraud.

Fake charities

Criminals commonly set up bogus charities to take advantage of the public's generosity during international crises or natural disasters. Typically, they seek money and personal information, which can be used to further exploit victims through identity theft.

Fake charity promoters may use emails, fake websites, or alter or "spoof" their caller ID to make it look like a real charity is calling to solicit donations. Criminals often target seniors and groups with limited English proficiency.

Here are some tips to protect against fake charity scams:

• Verify first. Scammers frequently use names that sound like well-known charities to confuse people. Potential donors should ask the fundraiser for the charity's exact name, website and mailing address so they can independently confirm the information. Use TEOS to verify if an organization is a legitimate tax-exempt charity.
• Don't give in to pressure. Scammers often pressure people into making an immediate payment. In contrast, legitimate charities are happy to get a donation at any time. Donors should not feel rushed.
• Don't give more than needed. Scammers are on the hunt for both money and personal information. Taxpayers should treat personal information like cash and not hand it out to just anyone.
• Be wary about how a donation is requested. Never work with charities that ask for donations by giving numbers from a gift card or by wiring money. That's a scam. It's safest to pay by credit card or check — and only after verifying the charity is real.

Taxpayers who give money or goods to a charity can claim a deduction if they itemize deductions, but these donations only count if they go to a qualified tax-exempt organization recognized by the IRS.