IRS Provides Advice for Taxpayers and Tax Professionals as Operations Resume
IRS employees returned to work Jan. 28 following the government shutdown and are working hard to resume normal operations to help taxpayers as much as possible.
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AICPA Letter to Treasury and IRS Highlights Challenges of Government Shutdown on Taxpayers and Practitioners
The AICPA recently sent a letter to the Secretary of the Treasury and the IRS Commissioner expressing concern that the ongoing government shutdown is burdening taxpayers and practitioners as they attempt to file complete and accurate tax returns.
View MoreIRS Issues Final Regulations on Section 199A Pass-Through Deduction and Walter Nunnallee to Present on Updates
The Treasury Department and IRS recently issued final regulations and three related pieces of guidance implementing the new qualified business income deduction, also known as the Section 199A pass-through deduction, of the Tax Cuts and Jobs Act.
View MoreIRS Waives 2018 Tax Penalty for Many Taxpayers
The IRS announced recently that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.
View MoreIRS Confirms Tax Filing Season to Begin Jan. 28
The IRS has confirmed it will process tax returns beginning Jan. 28, 2019 and provide refunds to taxpayers as scheduled.
View MoreIRS Offers Tips to Reduce CAF Number Errors and Better Protect Data
The Internal Revenue Service recently outlined common errors that may delay processing of Centralized Authorization File numbers as well as reminded tax professionals of steps they should take annually to help protect their number from misuse.
View MoreSteps for Tax Professionals to Obtain Wage and Income Transcripts for Tax Preparation
The Internal Revenue Service, in partnership with the tax preparation community, has devised a new process that will allow tax practitioners to access employer information needed for return preparation and electronic filing while also protecting taxpayer data.
View MoreIRS Issues Guidance on Changes to Excess Business and Net Operating Losses
The IRS has issued guidance on excess business loss limitations and net operating losses post-reform.
View MoreIRS Warns About Fake Payroll Direct Deposit, Wire Transfer and W-2 Scam Emails
The IRS is warning tax professionals about an uptick in phishing emails involving payroll direct deposit, wire transfer and W-2 scams.
View MoreIRS Issues Standard Mileage Rates for 2019
The Internal Revenue Service recently issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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