Taxes
Latest News
IRS Shares Five New Warning Signs of Incorrect ERC Claims
‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
Accountant Gets Jail Time For Charging $3 Million on New Jersey Employer’s Credit Card
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Justice Department Continues Efforts to Stop Fraudulent Tax Preparers
Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.
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IRS Revises Form 8940, Request for Miscellaneous Determination
Beginning April 3, 2023, the IRS will make available the electronic version of the Form 8940 that exempt organizations use to make miscellaneous determination requests online at Pay.gov.
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Can’t File Your Taxes Yet? Anyone Can Get an Extension – Here’s How
Anyone can request an automatic six-month extension to file. An extension allows for extra time to gather, prepare and file paperwork with the IRS.
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National Taxpayer Advocate Finds Hope in IRS Plan
She also shares hope that with long-term funding and prudent management, there is light at the end of the tunnel for taxpayers and practitioners who have experienced problems.
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IRS $80 Billion Plan Targets Taxpayer Compliance, Improved Service
The $80 billion in IRS funding over 10 years was ushered in under the Inflation Reduction Act — massive climate, energy, tax, and healthcare legislation passed along Democratic party lines last year.
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IRS 10-Year Strategic Operating Plan Includes Major Changes and Goals: Improved Service, Digital Transformation
As the IRS begins implementation of this plan, the agency will work with the public, partners and oversight groups to ensure the transformation work meets the needs of taxpayers and the nation.
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AICPA Sends Recommendations for Clarification and Expansion of Certain Provisions of Rev Proc. 2022-19
“Revenue Procedure 2022-19 provided much needed guidance and relief for S corporations which inadvertently terminate their S election,” said Jon Williamson, Senior Manager – AICPA.
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AICPA Expresses Support for Bipartisan Supply Chain Disruptions Relief Act
In a letter to members of the U.S. Senate and the U.S. House of Representatives, the American Institute of CPAs (AICPA) expressed its strong support for the Supply Chain Disruptions Relief Act.