IRS has issued a Fact Sheet highlighting major tax changes for 2015, including the renewal of key taxpayer-favorable benefits, a new way to save for retirement through MyRA accounts, ABLE accounts for people with disabilities, and updates on health care provisions.

Changes for 2015. The Fact Sheet covers a gamut of 2015 changes, some the result of recently enacted (or previously enacted) tax legislation, some based on IRS administrative rulings, and others based on inflation adjustments or how the days in the calendar fall.

Click here for more detailed information regarding the major 2015 changes.

A quick reminder that United States persons are required to file an FBAR if:

United States person includes U.S. citizens; U.S. residents; entities, including but not limited to, corporations, partnerships, or limited liability companies, created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States. Reporting and filing information (as well as detailed information) is included in the article.

Click here to view the full article.

Scams using the IRS as a lure continue. They take many different forms. The most common scams are phone calls and emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to steal your identity too.

Be wary if you get an out-of-the-blue phone call or automated message from someone who claims to be from the IRS. Sometimes they say you owe money and must pay right away. Other times they say you are owed a refund and ask for your bank account information over the phone. Don’t fall for it. Included in the brief article are several tips that will help you avoid becoming a scam victim.

Click here to view the full IRS notice.

For more information on these topics please contact your local tax advisor.

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