Tax

Taxpayers can now use their smartphones to scan a QR code in the CP14 or CP14 IA to go directly to IRS.gov and securely access their account, set up a payment plan or contact the Taxpayer Advocate Service.

The AICPA is now seeking additional guidance and clarity on these provisions in a new letter to the Department of the Treasury and the Internal Revenue Service.

With workers now distributed outside city limits, many companies are unknowingly overpaying these local taxes. The problem is that navigating this tax landscape is extremely complex, especially without accurate, reliable data.

The outcome could be significant on a number of fronts. One issue that has largely flown under the radar: The ACA authorizes the imposition of several taxes, including the “net investment income tax” (NIIT) affecting certain high-income investors.

Congress keeps chipping away at itemized deductions like the one for mortgage interest. This includes the latest changes under the Tax Cuts and Jobs Act (TCJA) for 2018 through 2025. The good news: Generally, you can still deduct most or all of ...

COVID-19 brought financial challenges to much of the public and forced companies to reimagine how business is done. Congress responded with generous relief, much of which runs through the tax code.

The IRS has electronic filing options, including Free File. Taxpayers and tax professionals should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments.

People who haven’t received a Coronavirus stimulus payment, and don’t typically file a tax return, can use an online tool to request their payment, up until Nov. 21.