IRS
Latest News
IRS ‘Get Ready’ Campaign Helps Taxpayers Prepare for Filing Season
Trump Nominates Hedge Fund Exec Bessent to Lead Treasury Department
The Top Toys and Gifts for the 2025 Christmas and Holiday Season
Professionals on the Move – Nov. 2024
WISP Required! Key Components in Your Firm’s Written Information Security Plan
While primarily targeted at companies maintaining more than 5,000 client records (think tax returns), certain safeguard components are required for firms with fewer than 5,000 records.
IRS, Treasury Issue Proposed Guidance on Monetization Options for Energy Tax Credits
The proposed rules released on June 14 focus on elective pay and transferability of credits under the Inflation Reduction Act.
IRS Clarifies Elective Payment Rules for Semiconductor Chips Tax Credit
The CHIPS Act allows eligible taxpayers to make an election to treat the credit as a payment against federal income tax.
When to Make Nondeductible IRA Contributions
When should you begin to make nondeductible contributions to your IRA?
AICPA Supports Changing Requirements to Form 1099-K Reporting Threshold
For many months, the American Institute of CPAs (AICPA) has expressed its concerns regarding the lowered Form 1099-K reporting threshold
Tax Curve Ahead for Business Vehicle Owners
Make sure you keep business use above the 50% level. In addition, maintain all the driving records required by the IRS.
![globe-flags[1]](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/33706/globe_flags_1_.5ce342f3a9102.png)
Foreign Intrigue on Taxable Income
A self-employed individual may claim the foreign earned income exclusion on foreign earned self-employment income.
Business Owners’ ERC Payouts Could Take Up to 160 Days, IRS Says
Small business owners are seeing delays drag out for months for the employee retention credit tax claims they've submitted.