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Tax Pros Warned of New Identity Theft Threats
Identity thieves were especially active this past year as they continued to use the pandemic, nationwide teleworking practices and other events as predatory ...
Identity thieves were especially active this past year as they continued to use the pandemic, nationwide teleworking practices and other events as predatory ...
The coincidence is so great that the IRS commissioner asked the department’s inspector general Thursday to investigate, after the audits were uncovered by The New York Times.
The 2022 report groups a total of five recommendations into two sections: recommendations to Congress and recommendations to the IRS.
The CP14, which is required by law to be issued within 60 days after the IRS assesses a tax liability, is the most common IRS notice sent to taxpayers, according to the Taxpayer Advocate Service, and requests payment within 21 days. The reason why taxpayers have a balance due can be related to a number of issues, such as failing to report some income or failing to pay a balance in full, Tiffany Gonzalez, CPA, CEO of Miami-based accounting firm Accounting to Scale, stated last week on LinkedIn.
It used to be that receiving a Form 1099-K was relatively rare. The form, technically known as Form 1099-K Payment Card and Third-Party Network Transactions was used to report payments received from various third-party resources. Prior to 2022, the monetary threshold to receive a 1099-K was $20,000, with 200 sales-related transactions required. Both requirements had to be fulfilled in order to receive a 1099-K.
Practice management is the heart and sole of an accounting firm, handling everything from initial client contact to managing workflow, to properly tracking hours and billing clients. When asked, here’s what respondents said were their biggest practice management challenges in 2021.
The LITC Program is a federal grant program administered by the Taxpayer Advocate Service (TAS), which is led by National Taxpayer Advocate (NTA) Erin M. Collins.
We all know a college education is very expensive, and costs are continuing to escalate. According to College Board’s Trends in College Pricing, the average full-time student at a four-year, non-profit private university will pay $32,410 a year in ...