Taxes March 7, 2025
In the wake of recent reports of workforce reductions at the Internal Revenue Service (IRS), President and CEO, Mark Koziel, CPA, CGMA, of the American Institute of CPAs (AICPA) released the following statement.
Taxes March 7, 2025
A federal jury convicted a Michigan businessman on March 5, 2025, for not paying employment taxes and not filing his own individual income tax returns.
Taxes March 7, 2025
The Tax Blotter is a round-up of recent tax-related news briefs.
Taxes March 7, 2025
Even though the Tax Court is commonly thought of as the forum of last resort for appealing tax bills and other IRS issues, there is a way to appeal a Tax Court ruling. However, the chances of success of these appeals are often relatively low.
Financial Reporting March 6, 2025
The AICPA awaits the release of additional details later this month but believes that Treasury is headed in the right direction with this decision.
Taxes March 6, 2025
For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, the IRS said on March 6.
Taxes March 4, 2025
The IRS said Feb. 27 that it's adding the two information return documents to its IRS Individual Online Account tool, which the agency said will consolidate important tax records into one digital location.
Taxes March 4, 2025
The IRS reports the average tax refund in 2025 is up $240 through the week ending Feb. 21, with more than 42 million returns processed so far.
Technology March 3, 2025
The embedded tax software provider said it has secured the necessary e-file licenses to enable Americans to electronically file in all 50 states, becoming the first new nationally licensed e-file provider in more than 15 years.
Small Business March 2, 2025
The Treasury Department announced March 2 that it will no longer enforce the Corporate Transparency Act or the associated beneficial ownership information reporting requirements.
Taxes February 28, 2025
Still waiting on your 2025 income tax refund? This chart can help you estimate when you will receive your refund, even with the changes at the IRS.
Taxes February 28, 2025
More than 100 IRS offices that host taxpayer assistance centers appear to be on the chopping block as the Trump administration continues efforts to cut waste from the federal government. But any closures likely won't take place until after tax season.