Tax Bill Roundup: January 2024
While much attention has been paid to a bipartisan tax bill involving the child tax credit and business tax benefits, …
IRS Again Taking ITIN Acceptance Agent Applications
Following a pause to allow time for the IRS to develop a new online application process, the agency is once …
Clean Vehicle Shoppers Deserve to Look Up Credit Eligibility Online by VIN, IRS Told
At a public rulemaking hearing, an IRS panel heard testimony on the searchability of eligible vehicles via an online tool …
Tax Bill Scorers Assess Cost, Economic Impact of Temp Incentives/ERC Crackdown
In scoring the Tax Relief for American Families and Workers Act of 2024 (HR 7024), the Congressional Budget Office (CBO) …
IRS Extends Hours for Face-to-Face Taxpayer Assistance
The IRS has announced that nearly all of its Taxpayer Assistance Centers (TACs) will extend their weekly office hours during …
IRS Highlights EITC Awareness Day
On January 26, 2024, the IRS launched its annual EITC Awareness Day, an outreach campaign that is designed to help …
FTC Bars Intuit From Distorting Eligibility for TurboTax Free Edition
TurboTax Owner Intuit was prohibited by the Federal Trade Commission from marketing the “free” version of the tax preparation software …
Sample Client Letter on Beneficial Ownership Interest Reporting Requirements
The new BOI reporting requirements, effective January 1, 2024, apply to domestic and foreign companies created or registered to do …
IRS to Simplify, Redesign Notices for Upcoming Tax Seasons
The IRS announced plans to make mailed notices easier for taxpayers to read and understand over the course of the …
Connecticut Taxpayers Impacted by Storms Qualify for Tax Relief
The IRS has announced tax relief for individuals and businesses in parts of Connecticut affected by severe storms, flooding, and …