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IRS Program Offers Penalty Relief for Businesses with Unfiled Retirement Plans
The program is designed to help small businesses that may have been unaware of the reporting requirements that apply to their retirement plans.
The program is designed to help small businesses that may have been unaware of the reporting requirements that apply to their retirement plans.
If you have ever had a client facing identity theft, you know that the first thing they want to find out is what specific information was compromised. But, until recently, the IRS has had a policy in place that prevented identity theft victims from ...
Says the bill encompasses recommendations proposed by the AICPA that would relieve burdens imposed on small businesses by the tax code.
The Internal Revenue Service (IRS) is currently planning activities to address a recurring financial material weakness in its internal control over unpaid tax assessments. However, planning for the Customer Account Data Engine 2 (CADE 2) Transition State 2 (TS2) has not included specific actions and activities necessary to guide new system development efforts and to […]
By utilizing technology for proactive engagement throughout the year, and especially early on the tax season, CPAs can improve client preparation and retention and minimize that last minute scramble in April.
National Taxpayer Advocate Nina E. Olson has released a report on the state of affairs at the IRS. There was plenty to complain about during the first half of 2015, but it remains to be seen how much the IRS can improve.
The tax law provides some "tax insurance” for gambling activities. Generally, you can deduct the amount of your losses up to the amount of your winnings if you keep the proper records. But you can’t deduct an overall loss or related business expense.
One of the groups working on tax reform for the Senate Finance Committee (SFC) has just recommended that the two higher education credits and the tuition deduction be combined into a single credit. But significant tax reform is still in its infancy.