Tax

The IRS recently released the updated W-12 (PTIN Application Renewal) form and one of the questions that preparers will need to take note of is #11-Data Security Responsibilities which states ...

The new revenue ruling addresses common questions by taxpayers and tax practitioners regarding the tax treatment of a cryptocurrency hard fork. In addition, a set of FAQs address virtual currency transactions for those who hold virtual currency as a ...

With this new offering, tax professionals now have the flexibility to access Lacerte and ProSeries with virtually any device at any time. Multi-user access allows firms of all sizes to simplify staff collaboration across multiple sites in addition to giv

The private debt collection program, enacted by Congress, requires the IRS to contract PCAs to collect certain outstanding tax debts. In June, the IRS began assigning a small number of business accounts to PCAs.These cases meet the requirements under ...

As 2019 comes to a close, many tax professionals are already providing their small business clients with tax planning advice for tax year 2019, in addition to tax compliance services. Tax reform presents a good opportunity for all practitioners to ...

Two tax amnesty programs have been established in Illinois by Public Act 101-0009: a general tax amnesty program administered by the Illinois Department of Revenue, and a franchise tax and license fees amnesty administered by the Secretary of State.

The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. Currently this includes Chambers, Harris, Jefferson, Liberty, Montgomery and Orange counties in Texas ...

Taxpayers who requested the six-month filing extension should complete their tax returns and file on or before the Oct. 15 deadline. Convenient electronic filing options, including IRS Free File, are still available.