With tax seasons comes the advent of tax scams by email and phone, including text messages. The IRS cautions taxpayers to be wary at this time of the year. Here are some pointers to help you:
If you have any questions about a communication purported to come from the IRS, call the Service at 800-829-1040 for confirmation.
Source: IR 2014-5
Casualty losses such as from a storm, in areas declared by the President to warrant federal assistance. An election may be made to deduct the loss in the year before the loss or the year of the loss.