IRS Mulls Future of Employee Retention Credit as Enforcement Ramps Up
Aggressive marketing pushing tax assistance with the employee retention credit has the IRS poised to crack down on fraudulent promotors …
TIGTA Reviews IRS’ Purchase Card Violations Report
The Treasury Inspector General for Tax Administration (TIGTA) has released its statutorily required semiannual report of IRS employee purchase card …
IRS: Florida Victims of Hurricane Idalia Get Tax Relief
The IRS has provided tax relief to victims of Hurricane Idalia in Florida. These taxpayers now have until February 15, …
IRS Glitch Leads to Erroneous Form 8955-SSA Late Filing Notices
A national network of retirement plan professionals raised an issue to the IRS after members began to receive late filing …
Illinois Victims of Severe Storms and Flooding Get Tax Relief
The IRS has provided tax relief to victims of severe storms and flooding that began in Illinois on June 29, …
IRS Provides Transition Relief From Section 603 Catch-up Contribution Change
The IRS announced a two-year administrative transition period for the new Roth catch-up requirement. Section 603 of the SECURE 2.0 …
NATP Fee Study Shows Tax Becoming a ‘Graying Industry,’ Director Says
Commenting on the National Association of Tax Professionals’ biannual study on trends within the tax industry, an executive from the …
American Bar Association Comments on Proposed Elective Credit Payment Regs
Finalized regs implementing the direct pay election for certain credits under the Inflation Reduction Act (PL 117-169) need specific clarifications …
IRS Says Federal Credit Unions May Claim ERC for Certain Periods
In a Chief Counsel Advice, the IRS Chief Counsel’s Office addresses whether federal credit unions may claim the employee retention …
Child Tax Credit Bill Has One Fatal Flaw, Nonprofit Says
A recent legislative proposal introduced by a cohort of Senate Democrats to permanently restore the now lapsed expanded child tax …