IRS Announces Annual PCOR Fee Adjustment
IRS Notice 2023-70 (Oct. 18, 2023) Available at https://www.irs.gov/pub/irs-drop/n-23-70.pdf The IRS has announced the annual increase in Patient-Centered Outcomes Research (PCOR) …
2024 PTIN Renewal Period Underway
The IRS has announced that the PTIN renewal period is now open. All active return preparers need to renew their …
Colorado Provides Guidance on CHIPS Refundable Tax Credit Program and CHIPS Zone Program
by Tyna Mikulec The Colorado Office of Economic Development & International Trade has released guidance on income tax incentives that …
IRS Investment Update: Business Account Launches, Noncompliant US Subsidiaries Targeted
In a quarterly update on how the IRS has been utilizing Inflation Reduction Act (PL 117-169) resources, the agency announced …
Ways and Means Looking to Curb Pandemic Related Fraud
Federal agencies did not strategically manage fraud risks and were not adequately prepared to prevent fraud tied to COVID-19 relief …
Dissatisfied with Critical Audit Matter Disclosures, Advisers Recommend Changes to PCAOB to Improve Reporting
The Public Company Accounting Oversight Board’s (PCAOB) Investor Advisory Group (IAG) presented a set of recommendations to improve auditors’ reporting …
Tax Court Denies Hardship Waiver to 60-day Rollover Rule
In a case of first impression, the Tax Court held that it has jurisdiction under Code Sec. 6213(a) to review the IRS’s …
IRS Announces Tax Relief for Leave Donations to Aid 2023 Hawaii Wildfire Victims
IRS Notice 2023-69 (Sept. 28, 2023) Available at https://www.irs.gov/pub/irs-drop/n-23-69.pdf The IRS has announced special tax relief for leave-based donation programs …
Direct E-File Pilot Program Will Be Available in 13 States, IRS Says
The upcoming pilot program for an in-development tax preparation and electronic filing option operated by the IRS will be limited …
PCAOB Enforcement is Continuing to Flex its Muscles
It is no secret that—under the leadership of Erica Williams—the PCAOB has been aggressive in pursuing enforcement actions to better …