Carolyn Culp, EA, ATA

Carolyn Culp, EA, ATA I have been a professional tax accountant since 1977 with offices located in Kansas and California.

New IRS Portal for Reporting Fraud and ScamsThe IRS has launched a new portal that makes it easier to report instances o...
06/22/2026

New IRS Portal for Reporting Fraud and Scams

The IRS has launched a new portal that makes it easier to report instances of tax fraud, identity theft, IRS impersonation and other tax-related scams. On the new webpage (link below), people and businesses can report:

- Fake IRS phone calls, emails, and text and social media messages. Scammers posing as government agents often threaten people with arrest unless they submit immediate payments, often in a specific format like gift cards. The IRS does not operate in this way.
- Suspected tax fraud, such as tax evasion schemes or illegal use of offshore accounts.
- Identity theft, which should always be reported to the IRS immediately, even if other government and law enforcement agencies know about the crime.
- Suspicious tax preparation practices, such as a paid tax preparer refusing to sign your return or altering your income figures.

Citizen reporting often plays a critical role in catching scammers and bringing them to justice. This new system makes the process of filing a report less confusing and much more convenient.

IRS Fraud Reporting Site: https://www.irs.gov/help/report-fraud

06/19/2026

đź“Š Gifts you receive are never taxable income to you, no matter the amount.

The $19,000 annual exclusion is a filing threshold for the giver, and even then no gift tax is owed until lifetime gifts pass the $15 million exemption.

Social Security is not on the list because up to 85% of benefits can be taxed once combined income passes $25,000 for single filers or $32,000 for married filing jointly.

SSI is a separate, needs-based program and is not taxable.

Tips and overtime are federal income tax deductions under the OBBBA for 2025 through 2028, not full exclusions, so Social Security and Medicare payroll taxes still apply and your state may still tax the income.

The 0% long-term capital gains rate is based on taxable income, which the $16,100 single or $32,200 married filing jointly standard deduction reduces first.

Inherited traditional IRAs are the exception inside the inheritance rule: the account passes to you tax-free, but every withdrawal is taxed as ordinary income.

Inherited Roth IRAs are generally tax-free if the original account met the 5-year rule.



*The content shared here is for educational and informational purposes only. It is not personalized investment, tax, legal, or financial advice. Consult a licensed professional before making decisions based on your specific situation.*

06/19/2026

Did you know that some summer activities can affect your taxes? Check out the latest tax tip where we explain how things like day camps, getting married, having a seasonal job and even traveling for business can affect your tax filing.

Get the latest information at https://ow.ly/zhNI50Z7Lwm.

06/19/2026

If someone says they’re from the government and tells you to move your money or put it in a federal locker, that’s an imposter scam. No one from the government will ever tell you that your money isn’t safe and you must move it to “protect it.” Only a scammer will. ejcc.acl.gov/imposters

06/19/2026

22% tax bracket doesn’t mean 22% goes to IRS

It’s progressive in nature. You pay some at 10%, some at 12% etc

IRS Offer in Compromise Program – Did You Know?People who cannot pay their tax bills in full may have options to resolve...
06/15/2026

IRS Offer in Compromise Program – Did You Know?

People who cannot pay their tax bills in full may have options to resolve the situation. One of these options is the Offer in Compromise (OIC) program, which allows eligible taxpayers to settle their debts with the IRS for less than the full amount owed.

Anyone considering an OIC should first check whether they qualify using the IRS Pre-Qualifier tool online (link below). Eligible taxpayers may then submit an application. In most cases, the application must be accompanied by a $205 fee and an initial payment toward the tax debt, although these requirements may be waived for lower-income applicants.

An OIC application requires detailed financial information and must be carefully prepared. Beware of aggressive ads promising to settle tax debts quickly for a small fraction of the amount owed. Companies behind these ads, often referred to as OIC mills, may charge substantial fees while submitting applications for people who have little chance of qualifying. A trusted tax professional can help ensure that an OIC application is complete, accurate, and has a reasonable chance of acceptance.

OIC Pre-Qualifier Online Tool: https://irs.treasury.gov/oic_pre_qualifier/

06/15/2026

We’re halfway through the calendar year already—have you checked on your 2026 tax withholding yet? Checking your withholding now can help protect you from having an unexpected tax bill or penalty in the future. Get started today with the Tax Withholding Estimator: www.irs.gov/withholding

06/12/2026

: Do you need proof that you didn't file a tax return this year for your financial aid? You can get a verification of non-filing letter from the after June 15. You can create an IRS Online Account to view, print or download your letter. You can also use the Get Transcript by Mail option online -- call the automated transcript service or fill out and send in Form 4506-T.

Visit https://ow.ly/N4N050Z1Nxz to request your letter.

06/12/2026

Second quarter estimated tax payments are due June 15. It's fast and easy to get your payment to the online. We accept payments from bank accounts, credit cards, debit cards and digital wallets.

Make your estimated tax payment today at www.irs.gov/payasyougo

06/12/2026

Congress moves slower than dial-up when Americans need help, but suddenly finds 5G when the check is leaving the country.

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