Tax Professionals Warned About Increase In ‘New Client’ Scams
The IRS has issued a warning to tax professionals to watch out for a “new client” scam that usually “peaks …
IRS: Warning Signs of Incorrect ERC Claims; Resolve Issue Now
The IRS shared warning signs that an Employee Retention Credit (ERC) claim may have issues. Small businesses are urged to …
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 …
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 …
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 …
Tax Expert: Timing of Tax Deal Bill May Impact Taxpayer Decision on When to File
The bipartisan tax package awaiting its fate in the Senate contains multiple retroactive provisions that would affect the current filing …
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 …
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 …