Tax

A roundup of interesting tax news.

As Dorian threatens and with the peak of hurricane season just ahead, the Internal Revenue Service reminds everyone to develop an emergency preparedness plan. Taxpayers, whether individuals, organizations or businesses, should take time now to ...

Remember: the IRS does not send unsolicited emails and never emails taxpayers about the status of refunds.

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We generally assume that it is advantageous for a married couple to file jointly (MFJ) – it may almost feel natural to file a married filing separate tax return (MFS). That’s because filing joint returns comes with many well-known benefits, including a lower tax bracket at both the federal and state level, a larger standard […]

When the IRS certifies a taxpayer as owing a seriously delinquent tax debt, the taxpayer receives a Notice CP508C from the IRS. The notice explains what steps the taxpayer needs to take to resolve the debt. IRS telephone assistors can help ...

Tax professionals are being advised by the IRS that they should report data theft immediately and follow an established process for helping the IRS protect their clients.

The AICPA stated in its letter to the IRS, “Failure to apply section 481(d) to QSubs owned by an eligible terminated S corporation effectively means that section 481(d) will apply only to S corporations to the extent that their operations are not ...