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Beware of “Ghost” Tax Return Preparers

March 1, 2019 The IRS warns taxpayers to avoid unethical tax return preparers, known as “ghost” preparers.

IRS Waives Estimated Tax Penalty for Farmers, Fishermen Who File Returns and Pay Tax by April 15

February 28, 2019 The IRS will waive the estimated tax penalty for any qualifying farmer or fisherman who files his or her 2018 federal income tax return and pays any tax due by Monday, April 15, 2019.

Individuals Who Need Passports for Imminent Travel Should Contact IRS to Resolve Tax Debt

February 27, 2019 The IRS recently reiterated its warning that taxpayers may not be able to renew a current passport or obtain a new passport if they owe federal taxes.

Tax Prep Using Content Services Solutions

February 27, 2019 Most taxpayers born in the last 60 years have the expectation that their preparer is harnessing electronic tools to help eliminate errors, speed up processes and make their overall client experience a positive one.

Interest Rates Remain the Same for the Second Quarter of 2019

February 25, 2019 The IRS recently announced that interest rates will remain the same for the calendar quarter beginning April 1, 2019 as they were in the first quarter of 2019.

IRS Revenue Ruling Provides Prescribed Rates for Federal Income Tax Purposes

February 15, 2019 The IRS recently issued Revenue Ruling 2019-07 that provides various prescribed rates for federal income tax purposes.

Bonus Depreciation Safe Harbor Rules for Vehicles Issued by IRS

February 13, 2019 The IRS recently provided a safe harbor method to determine depreciation deductions for passenger automobiles that qualify for the 100 percent additional first-year depreciation deduction and that are subject to the depreciation limitations for passenger automobiles under Sec. 280F (Rev. Proc. 2019-13).

IRS Provides Advice for Taxpayers and Tax Professionals as Operations Resume

January 30, 2019 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.

IRS Issues Final Regulations on Section 199A Pass-Through Deduction and Walter Nunnallee to Present on Updates

January 19, 2019 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.

IRS Waives 2018 Tax Penalty for Many Taxpayers

January 16, 2019 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.