December 31, 2023 PTIN Renewal Deadline
Paid tax return preparers with a PTIN expiring on Dec. 31, 2023, should use the online renewal process to renew their PTIN, which takes...
IRS unveils unit to tackle tax dodging by pass-throughs
There's a new sheriff in town—sort of. The Internal Revenue Service (IRS) recently has announced the formation of a new work group within the...
Adjustments sought for R&D Tax Credit Form
There are changes coming to certain sections of Form 6765, Credit for Increasing Research Activities—the document used by taxpayers to claim the research and...
AICPA requests IRS contingency plan in case of government shutdown
The American Institute of CPAs (AICPA) submitted a letter to the Department of the Treasury, the Internal Revenue Service (IRS) and Congressional leadership requesting the release of the...
IRS to halt ERC Claims
The final execution date has been set for filing ERC claims and amended returns. Amidst a huge backlash of false claims, corrupt pop-up credit...
AICPA releases statement on IRS announcement concerning ERC Mills
Following an announcement by the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) released its response.
AICPA President and CEO, Barry Melancon, CPA, CGMA, says, the latest initiative...
IRS sets guidance on state tax payments
The Internal Revenue Service (IRS) has provided guidance on the federal tax status of refunds of state or local taxes, and certain other payments made by...
New on the dirty dozen? Installment sales
Every year the Internal Revenue Service (IRS) releases its list of the “dirty dozen” tax strategies that are shaky to say the least. While...
IRS set to go paperless by 2025
Don't look now, but the Internal Revenue Service (IRS) is going paperless. The “Paperless Processing Initiative,” which expects to take place by 2025, is...
IRS strategic plan released
The IRS released its most recent strategic operating plan earlier this month. The plan is a milestone for newly appointed commissioner, Danny Werfel, and...
Latest article
Top 10 Federal Tax Implications of Rescheduling Cannabis as a Schedule III Drug
In a letter dated August 29, the Department of Health & Human Services made an official recommendation to the Drug Enforcement Administration (DEA) to...
1099-K Delay Announced by IRS
Early last week the IRS announced another in the changes to 1099-K reporting requirements. The requirements have been plaguing tax preparers for the last...
Protect Your Clients, Protect Yourself
The IRS and Security Summit partners have developed the following "Tip Sheet" for tax professionals, businesses, taxpayers
Earlier this year the Security Summit’s Protect Your Clients;...