Reminder: IRS Information Return Error Notices
The IRS is reminding payers such as banks, credit unions, and businesses that file information returns to check their returns for mismatch …
Connecticut Extends Filing and Payment Deadlines of Certain Returns
The Connecticut Department of Revenue Services (DRS) has announced that it is extending the tax filing and payment deadlines of …
Multistate Trends: What Pass-Throughs Need to Know About the Entity-Level Tax Election
Pass-through entity-level tax elections pose significant opportunities and risks for pass-through entities and their owners across the states. As of …
Recent IRS Webinar Provides Tips for ERC Voluntary Disclosure Program
By Debbie Tam On February 8, 2024, the IRS presented a webinar to provide information on the Employee Retention Voluntary Disclosure …
What Are the Consequences of Auditors Subject to Regulatory Enforcement Actions? Apparently Not Much
Many public company external auditors who were subject of SEC or PCAOB enforcement actions between 2003 and 2019 did not …
CPAs Submit Tweaks to Proposed Donor Advised Fund Regs
The American Institute of Certified Public Accountants (AICPA) sent a letter to leaders in the IRS Office of Chief Counsel …
IRS Analysis: Inflation Reduction Act Funds to Raise More Revenue Than Expected
In a new white paper, the IRS boasted that modernization and enforcement efforts funded by the approximately $80 billion appropriation …
Fact Sheet Contains Revised Form 1099-K FAQs
The IRS has issued Fact Sheet 2024-3, which contains revised frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third-Party Network …
Agency FAQ (Part 65) Addresses TiC Disclosures for Low-Utilization Items
FAQ About Affordable Care Act Implementation Part 65 (Feb. 2, 2024) Available at https://www.dol.gov/sites/dolgov/files/EBSA/about-ebsa/our-activities/resource-center/faqs/aca-part-65.pdf The DOL, HHS, and IRS have …
IRS Provides Depreciation Tables for Passenger Automobiles
This article originally appeared in the January 19, 2024, edition of Accounting & Compliance Alert, available on Checkpoint. Get all the …