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NYS Issues Cybercrime Alert to Tax Preparers

Not long after the Internal Revenue Service alerted the nation’s tax preparers to be on guard against the theft of confidential information in their care, the State of New York has followed suit, issuing its own alert to the state’s preparers. [Read more…]

IRS Restores Online IP PIN Tool

The Internal Revenue Service has restored its “Get an IP PIN” tool to the website, after concerns about security forced its removal. [Read more…]

Summer Wedding? Time for a Tax Tune-up

If you’ve got clients who are getting married this summer, they may not have taxes on their pre-nuptial checklist. But once the rice is all swept away and the thank-you notes are written it may be time to go over some items that can make their first tax season together go smoothly – sort of a good start on “happily ever after.” [Read more…]

Treasury Inspector General Finds Good News, Bad News in Audit of IRS Tax Lien Procedures

The Treasury Inspector General for Tax Administration (TIGTA) says the IRS gets a mixed report card when it comes to notifying taxpayers an IRS lien has been filed against them. [Read more…]

Analysis Claims Sales Tax Holidays May Not Deliver What They Promise

It won’t be long until it’s Back-to-School time in many states – and that could mean a sales tax holiday for many shoppers. At least 17 states will have some sort of sales tax holiday period this year, to provide a temporary break on school supplies, clothing, computers and other items. [Read more…]

Tweaking Your Clients’ Advance Premium Tax Credit Payments

If your clients bought health care coverage through the Health Insurance Marketplace for this year, they may have chosen to have advance payments of the premium tax credit paid directly to the insurance company in order to lower their monthly payments. [Read more…]

Tax Breaks for U.S. Military

Members of the U.S. Armed Forces deserve the thanks of the nation for their service, and one small way we can show our thanks is by giving those who serve a small measure of tax relief. [Read more…]

Facebook Under IRS Scrutiny for Questionable Transfer of Assets to Ireland

The Internal Revenue Service has gone to court to face Facebook to cooperate with its investigation into the transfer of assets to an Irish subsidiary. [Read more…]

Massachusetts Senate Considers AirBnB Tax to Help Finance Earned Income Credit

The Massachusetts State Senate is looking at a bill that would install a tax on rooms rented through AirBnB to help the state pay for an increase in its Earned Income Credit. [Read more…]

Stepping Up Tax Preparer Security: What Does it Mean?

The latest meeting of the IRS’ Security Summit working group has grabbed a lot of headlines recently. Among the news is that income tax preparers will be expected to secure the taxpayer data under their control from hackers and identity thieves. [Read more…]