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IRS Warns: Tax Scams Surge with Phishing, Smishing Threats

The IRS kicked off its annual Dirty Dozen list of scams targeting tax professionals, taxpayers,…

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Tax Relief Extended for Hawaii Wildfire Victims

In the aftermath of the devastating wildfires that struck Hawaii in August 2023, the Internal…

Tax Tax News

IRS Budget Cut Sparks Concerns for Small Businesses

In a recent federal budget move, Congress has officially slashed $20 billion in long-term spending…

Tax Tax News

Crackdown on Tax Avoidance Promoters: Key Insights for Small Businesses

The Internal Revenue Service (IRS) has focused on promoters of such dubious transactions to tighten…

Tax Tax News

IRS Recovers Over $1 Billion in Erroneous COVID-19 Relief Claims

The Internal Revenue Service (IRS) has made significant strides in recouping funds from erroneous Employee…

Tax Tax News

IRS Proposes Faster Notice for Third-Party Tax Inquiries

In a move that could impact small business owners, self-employed individuals, and entrepreneurs, the Internal…

Tax Tax News

Senators Introduce Bill to Address Tax Abuse in Wealthy Trusts

Senators Ron Wyden of Oregon and Angus King of Maine introduced the Getting Rid of…

Tax Tax News

Revolutionizing Taxation: A Digital Future for Easier Tax Compliance

In a bold move to overhaul its image and operations, IRS Commissioner Danny Werfel announced…

Tax Tax News

IRS Expands Multilingual Support: Eases Tax Season for Small Businesses

The Internal Revenue Service (IRS) has announced a significant expansion of multilingual support services to…

Tax Tax News

Small Businesses Beware: Fix ERC Errors Before March 22nd Deadline

Small business owners, self-employed individuals, and entrepreneurs face a critical deadline as the Internal Revenue…

Tax Tax News

Embrace Electronic Payments for Penalty-Free Tax Filing!

With the April 15 filing deadline drawing near, the IRS urges taxpayers, primarily self-employed individuals,…

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IRS Launches Direct File: Streamlined Tax Filing for Entrepreneurs

In a groundbreaking move aimed at simplifying tax season for entrepreneurs, freelancers, and small business…

Tax Tax News

Sales Tax Landscape Shifting: What Small Businesses Need to Know

In an era of unprecedented sales tax rate fluctuations, small businesses, freelancers, and entrepreneurs grapple…

Tax Tax News

Texans Bear 7th Highest Property Tax Burden in U.S., Report Shows

As property tax season sweeps through the Lone Star State, Texans face the reality of…

Tax Tax News

Call for Suspension: FinCEN Urged to Halt Enforcement of Corporate Transparency Act Following Court Ruling

FinCEN has been urged to halt all enforcement of the Corporate Transparency Act (CTA) and…

Tax Tax News

Asset Managers Quietly Remove Tax Risk from Portfolios

In a proactive move signaling increasing concern among asset managers, firms are quietly reassessing their…

Tax Tax News

Time’s Running Out: Claim Your Recovery Rebate Now!

As the clock ticks towards the May 17 deadline, the Internal Revenue Service (IRS) is…

Tax Tax News

Study Reveals How Tax Policies Deepen Racial Wealth Disparities in America

A recent study by the Brookings Institution and Urban Institute Tax Policy Center has shed…

Tax Tax News

High-Income Non-Filers: Self-Employed and Entrepreneurs Under Scrutiny

In a bold move to address tax compliance among high-income earners, the Internal Revenue Service…

Tax Tax News

E-Filing for Form 1042 Delayed Amid Transition Challenges

In a move aimed at easing the burden on taxpayers grappling with the shift to…

Tax Tax News

Washington Wildfire Victims Granted Tax Relief: IRS Extends Deadline

In the wake of the devastating wildfires that ravaged parts of Washington State starting on…

Tax Tax News

IRS Taps Crypto Experts to Navigate Digital Asset Taxation

To bolster its understanding and regulation of the burgeoning cryptocurrency and digital assets sector, the…

Tax Tax News

Clarity on Tax Impact of USDA Discrimination Program for Self-Employed

The Internal Revenue Service (IRS) and the Treasury Department have clarified the U.S. Department of…

Tax Tax News

FinCEN Unveils Guide Empowering Small Businesses Access to Beneficial Ownership Information

In a concerted effort to bolster the arsenal against financial crimes, the Treasury's Financial Crimes…

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Interest Rates Hold Steady for Q2 2024: Relief for Taxpayers

In a move that brings relief to taxpayers and corporations alike, the Internal Revenue Service…

Tax Tax News

IRS Audits Corporate Jet Usage: Impact on Self-Employed, Entrepreneurs

The IRS is embarking on an extensive audit initiative targeting corporate jets' personal and business…

Tax Tax News

Property Tax Insights: Utah’s Unusual Approach and Its Impact on Homeowners

In the realm of real estate, the weight of property taxes often influences decisions on…

Accountant Tax Tax News

FinCEN Ensures Fair BOI Enforcement for Small Businesses

In a pivotal testimony before the House Committee on Financial Services, FinCEN Director Andrea Gacki…

Tax Tax News

Michigan Storms: Tax Relief for Victims and Small Businesses

In the wake of severe storms, tornadoes, and flooding wreaking havoc across Michigan since August…

Tax Tax News

Extended Saturday Hours for Tax Assistance Nationwide

To enhance service accessibility during the tax season, the Internal Revenue Service (IRS) unveiled a…

Tax Tax News

Identifying Red Flags: Is Your ERC Claim on Unsteady Ground?

The IRS has warned small businesses, identifying seven red flags that may indicate a questionable…

Tax Tax News

Top IRS Crime-Fighting Official to Retire

In a significant announcement shaking the foundations of the Internal Revenue Service's (IRS) crime-fighting division,…

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IRS Clarifies Obamacare Tax Credit Rules for Small Businesses

In a bid to provide clarity and guidance to taxpayers navigating the intricacies of health…

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Tax Pros: EFIN Scam Warning! Protect Your Practice

Tax professionals are on high alert as the Internal Revenue Service (IRS) and its Security…

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Updated Auto Depreciation Limits Offer Relief for Small Business Owners

The Internal Revenue Service (IRS) has rolled out updated depreciation limitations for passenger automobiles, signaling…

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Empowering Self-Employed and Entrepreneurs: New Clarity on 1099-K Reporting

Tax season can be particularly daunting for self-employed individuals and entrepreneurs, who often face unique…

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IRS Extends Tax Deadline for Maine Storm Victims

In the wake of devastating storms and flooding ravaging parts of Maine, the Internal Revenue…

Tax Tax News

House Greenlights $78B Tax Bill: Child Credits, ERC Shifts, Business Boosts

In a resounding 357–70 vote, the House has given the green light to a comprehensive…

Tax Tax News

IRS Warns Taxpayers: Choose Tax Preparers Carefully to Safeguard Finances

The Internal Revenue Service (IRS) urges taxpayers to exercise caution when selecting tax professionals to…

Tax News

Tax Fiasco: Surgeon’s Lawsuit Against CPA Stalls, Impacting Small Businesses

In a legal saga with implications for small businesses and self-employed individuals, Florida surgeon Wayne…

Tax Tax News

2024 Tax Prep Tips for Entrepreneurs and Small Businesses

As the 2023 tax season looms, the Internal Revenue Service (IRS) has released an essential…

Tax Tax News

IRS Urges Taxpayers to File Returns Promptly, Regardless of Pending Tax Bill Decisions

In a noteworthy declaration, Commissioner Danny Werfel is urging taxpayers to promptly file their tax…

Tax Tax News

Tax Season Starts Amid Congressional Tax Break Uncertainty

As tax season commences this Monday, the Internal Revenue Service (IRS) and tax professionals are…

Accountant Tax Tax News

Small Businesses Face Heftier Fines as BOI Reporting Penalties Increase

In a sweeping move that directly impacts entrepreneurs, freelancers, and small businesses, the Financial Crimes…

Tax Tax News

Tax Overhaul Alert: 2024 Brings Audits for Self-Employed and Small Businesses

In a recent report by tax compliance tech trailblazer Avalara, the coming year heralds a…

Tax Tax News

Tax Clarity Revolution: Notices Redesigned for Easy Understanding!

In a groundbreaking move, the Internal Revenue Service (IRS) introduced the Simple Notice initiative, a…

Tax Tax News

Tax Deadline Extended for Storm-Affected Connecticut Residents Until June 17, 2024

In a recent announcement, the Internal Revenue Service (IRS) has extended tax relief to individuals…

Tax Tax News

IRS Boosts EV Adoption with 30% Tax Credit for Charging Stations

In a strategic move to accelerate the adoption of electric vehicles (EVs), the Internal Revenue…

Accountant Tax Tax News

Businesses Get Breather: Reporting Digital Assets Delayed Pending Regulatory Clarity

In a pivotal development, self-employed individuals, entrepreneurs, freelancers, and small businesses are breathing a sigh…

Accountant Tax Tax News

Digital Asset Reporting Relief for Businesses and Freelancers

Notably, the Internal Revenue Service (IRS) and the Treasury Department have issued a reprieve, relieving…

Tax Tax News

IRS Introduces PLESAs: Financial Safety Net for Freelancers and Small Businesses

In a pivotal move to bolster the financial security of freelancers, small businesses, and the…

Tax Tax News

IRS Nabs $520M from Wealthy, Targets Self-Employed and Entrepreneurs

In a sweeping enforcement blitz, the IRS proudly announced on Thursday that it has amassed…

Tax Tax News

Get Ready for Tax Season 2024: Filing Begins January 29, with Exciting Changes and Features

As the 2024 tax season approaches, the Internal Revenue Service (IRS) has announced that the…

Tax Tax News

Entrepreneurs Beware: IRS Questions Validity of Your ERC Claims

In a seismic development, the Internal Revenue Service (IRS) has initiated an extensive crackdown on…

Tax Tax News

Revamped Tools and Key Dates Set to Transform Tax Filing Experience

The Internal Revenue Service (IRS) is set to revolutionize the 2023 tax season, promising a…

Tax Tax News

IRS Sets Exciting Stage for 2024 Tax Filing Season with Innovative Improvements

In a significant announcement, the Internal Revenue Service (IRS) has officially declared January 29, 2024,…

Accountant Tax Tax News

IRS Grants Reprieve: Auto Dealers Get Extra Time for Tax Credit Submissions

In a strategic move to alleviate the mounting pressures on auto dealers and sellers immersed…

Tax Tax News

Tax Season 2024: IRS Reverts to April 15 Deadline After Five Years of Altered Schedules

In a significant departure from the last half decade's trend, the Internal Revenue Service (IRS)…

Tax Tax News

Taxing Times: States Unite to Tame Property Tax Surge as Home Values Skyrocket

In an epoch marked by the ceaseless pursuit of the American Dream, the aspiration of…

Tax Tax News

Navigating 2023 Tax Season: Expert Tips and Challenges for CPA Professionals

As the 2023 tax season looms, Certified Public Accountants (CPAs) are gearing up to navigate…

Tax Tax News

New Guides and Workshop Aid Nonprofits and Credit Unions in Tax Compliance

To provide crucial support to nonprofits navigating the labyrinth of tax regulations, the Internal Revenue…

Accountant

Unprecedented ERC Redemption Program Offers Businesses a Financial Clean Slate

In a seismic move to address the murky terrain of questionable Employee Retention Credit (ERC)…

Tax Tax News

FinCEN Releases Final Rule Empowering Anti-Money Laundering Efforts Through Beneficial Ownership Information Access

In a landmark development, the Financial Crimes Enforcement Network (FinCEN) has unveiled the final rule…

Accountant

AICPA Takes the Lead in Shaping Tax Policy: 2023’s Year of Advocacy Triumphs

In a year characterized by political maneuvering and the looming specter of the 2024 elections,…

Accountant Tax

Revolutionizing Clean Transportation: Safe Harbor Unveiled for Commercial Clean Vehicles in 2024

In a bold leap toward fostering sustainable transportation practices, a paradigm-shifting announcement has emerged for…

Tax Tax News

Breaking News: IRS Unveils $1 Billion Penalty Relief and Resumes Collection Notices

In a groundbreaking move, the Internal Revenue Service (IRS) declared a whopping $1 billion penalty…

Accountant

Transformative Evolution in Tax Services: Business Tax Account Access Expands with New Features

In a groundbreaking move poised to reshape the landscape of tax services, the Internal Revenue…

Tax Tax News

Tax Shift Alert: Corporate Minimums Overhauled, Eyes on 2024 Changes!

In a significant development, the Internal Revenue Service (IRS) released new interim guidance on Friday…

Tax

Tax Breaks in Overdrive: 2024 Mileage Rates Hit the Fast Lane!

Hold on to your steering wheels, as the Internal Revenue Service (IRS) kicks off the…

Tax Tax News

Challenges Persist for Taxing the Wealthy: A Global Struggle for Tax Justice

In a recent legal showdown at the US Supreme Court, the debate over tax justice…

Tax Tax News

World Health Organization Urges Nations to Implement Higher Taxes on Alcohol and Sugary Drinks to Safeguard Global Health

In a groundbreaking move, the World Health Organization (WHO) is sounding the alarm on the…

Tax Tax News

Tax Credit Takedown: 20,000 Dubious Claims Busted in Epic Crackdown Against Fraudsters!

In a bold move to combat fraudulent claims, the Internal Revenue Service (IRS) is taking…

Accountant Tax

Taxpayers and Government Clash Over Sec. 965 Transition Tax Consequences

The Supreme Court session on the Sec. 965 transition tax reveals a clash between taxpayers…

Accountant Tax

IRS Freezes Employee Retention Credit Amidst Widespread Scams

In a swift response to a surge in fraudulent claims, the IRS has halted processing…

Accountant Tax

Security Summit Fight ID Theft: “Protect Your Clients; Protect Yourself” Summer 2023 Campaign!

In a strategic move to combat the rising menace of tax-related identity theft, the Internal…

Accountant Tax Tax News

Year-End Financial Strategies Unveiled: A Smart Move for 2023

The Inflation Reduction Act of 2022, P.L. 117-169, has ushered in a wave of fresh…

Tax Tax News

Crypto Revolution: IRS Greenlights Protocol Upgrade, But No Tax Bill for Investors!

In a game-changing move for crypto enthusiasts, the IRS has given the thumbs up to…

Accountant Tax

FinCEN Eases Reporting Burden: Extends BOI Deadline to 90 Days for 2024 Registrations

In a move aimed at providing relief to businesses, the Financial Crimes Enforcement Network (FinCEN)…

Tax Tax News

IRS Seeks Feedback from Tax Pros to Elevate Services: Launches Phone Survey

To enhance services for tax professionals and their clientele, the Internal Revenue Service (IRS) has…

Tax Tax News

IRS and Security Summit Launch National Tax Security Awareness Week to Combat Holiday Scams

In a joint effort on Cyber Monday, the Internal Revenue Service (IRS), state tax agencies,…

Accountant Tax Tax News

IRS Urges Non-Filers: Claim Your Cash Before Time Runs Out!

In a crucial reminder, the Internal Revenue Service (IRS) is urging eligible individuals who may…

Tax Tax News

Unlock Tax Savings for 2024 – IRS Encourages Low- and Moderate-Income Earners to Boost Retirement with Saver’s Credit

In a bid to empower low- and moderate-income taxpayers, the Internal Revenue Service (IRS) is…

Accountant Tax

IRS Announces Further Delay in Lower Form 1099-K Threshold Implementation

In a surprising turn of events, the Internal Revenue Service (IRS) has declared another postponement…

Accountant Tax Tax News

IRS Freezes Interest Rates for Q1 2024!

In a significant announcement today, the Internal Revenue Service (IRS) has declared that interest rates…

Accountant Tax Tax News

IRS Targets Abusive Conservation Easement Schemes: Proposes Regulations to Disallow Deductions

In a bold move to curb abusive syndicated conservation easement schemes, the IRS has issued…

Tax Tax News

Breaking Tax Ethical Grounds: AICPA Unleashes Game-Changing Standards for 2024!

In a seismic shift for the tax professional community, the American Institute of Certified Public…

Tax Tax News

Crypto Industry Challenges IRS Over Broad Definition of ‘Broker’ in Proposed Regulations

Advocates Argue IRS Stretching Statutory Definition "Beyond the Breaking Point" In a public hearing, cryptocurrency…

Tax Tax News

IRS Commissioner Urges Swift Action to Showcase Impact of Increased Funding

In a recent address at the AICPA National Tax & Sophisticated Tax Conference, IRS Commissioner…

Tax Tax News

IRS Vigilant During International Fraud Awareness Week; Urges Taxpayers to Guard Against Scams and Schemes

As part of its ongoing commitment to safeguard taxpayers, the Internal Revenue Service (IRS) is…

Accountant Tax Tax News

FinCEN Redefines Transparency: Introduces Unique Identifiers for Effortless Beneficial Ownership Reporting

In a recent development, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has unveiled a…

Accountant Tax News

IRS Unveils Tax Adjustments for 2024: Key Changes Affecting Taxpayers

In a recent announcement, the Internal Revenue Service (IRS) detailed the annual inflation adjustments for…

Accountant Tax News

IRS Issues Deadline for Clean Vehicle Sellers: Register on Energy Credits Online by Dec. 1 to Receive 2024 Benefits

The Internal Revenue Service (IRS) has issued a crucial deadline for clean vehicle sellers and…

Accountant Tax News

Exclusive Access to Top Seminars from 2023 IRS Nationwide Tax Forums Now Available Online

In a groundbreaking move, tax professionals who missed the 2023 IRS Nationwide Tax Forums last…

Accountant Tax News

IRS Launches Free Energy Credit Online Tool for Clean Vehicle Sellers

In a groundbreaking move, the Internal Revenue Service (IRS) has unveiled the IRS Energy Credits…

Accountant Tax Tax News

IRS Urges Taxpayers to Act Now: Review Withholding to Avoid 2023 Tax Surprises

In a crucial update, the Internal Revenue Service (IRS) is sounding the alarm for taxpayers…

Accountant Tax Tax News

IRS Announces Increased Retirement Account Limits for 2024

The Internal Revenue Service (IRS) has unveiled the updated contribution limits for qualified retirement plans…

Accountant Tax Tax News

IRS Announces Reduced Fees for PTINs and Updates to Tax Pro Accounts

The Internal Revenue Service (IRS) has implemented significant changes, including reduced fees for preparer tax…

Accountant Tax Tax News

IRS encourages employers to electronically file payroll tax returns

The Internal Revenue Service (IRS) encourages employers to opt for electronic filing for their upcoming…

Accountant Tax Tax News

Breaking News: IRS Permanently Approves Electronic Signatures Following COVID-19 Changes

In a landmark decision, the Internal Revenue Service (IRS) has officially made permanent the temporary…

Accountant Tax Tax News

IRS: Beware of fake charities; check before donating

Taxpayers Urged to Verify Charity Authenticity Before Donating to Avoid Scams In light of the…

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