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Tax Deadline Extended

Tax Deadline Extended

It will come as no surprise to tax professionals that there were problems submitting returns to the IRS on Tax Day. Early yesterday morning, IRS systems experienced an issue that prevented the agency from accepting e-filed returns or tax payments—Direct Pay was also down for most of Tuesday.
For IRS, the Real Work Starts After Tax Season

For IRS, the Real Work Starts After Tax Season

With the TY2017 tax season coming down to the final hours, the acting IRS commissioner feels pretty good about his agency’s performance thus far. But the big crunch, he says, comes after tax deadline has come and gone.
Watch for Last Minute Tax Scams

Watch for Last-Minute Tax Scams

The April 17 deadline for filing will bring this tax season to a close before we know it. So it makes sense that the bad guys are planning to make hay while the sun shines. Identity thieves and scammers are unleashing a new campaign to beat the deadline.
Time Running Short to File 2014 Returns for Refund

Time Running Short to File 2014 Returns for Refund

The Internal Revenue Service is reminding taxpayers that time is short to file their 2014 income tax return for a refund. Some $1 billion in refunds is yet unclaimed from TY2014. In order to claim a refund due, taxpayers must file their 2014 federal return by April 17.
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Jami Gibson on Social Media Security – EP9

We've all been there: one of your Facebook friends sends a bizarre message containing a suspicious link, and the next day, you get a phone call about their account being hacked. Maybe you've even been the victim of an account takeover and want to know how to avoid another incident.
House Ways and Means Oversight Subcommittee Proposes IRS Reform

House Ways and Means Oversight Subcommittee Proposes IRS Reform

The House Ways and Means Committee on Monday issued a press release announcing a discussion draft for the Taxpayer First Act, a bipartisan effort aiming to “redesign the Internal Revenue Service (IRS) for the first time since 1998.” The reform legislation comes after three years of public hearings and round-table discussions and “incorporates provisions from at least 18 different bills.”
Virtual Income is Taxable, IRS Reminds

Virtual Income is Taxable, IRS Reminds

Baffled by Bitcoin? In the dark over Litecoin but find Ethereum engaging? No matter what your attitude toward the use of virtual currency, the Internal Revenue Service wants you to know that there’s really only...
Avoiding the Dirty Dozen

Avoiding the Dirty Dozen

In our last post, we laid out this year’s “Dirty Dozen” tax scams as ranked by the Internal Revenue Service. The annual list looks at the worst scams likely to beset taxpayers and tax pros during the coming year.
IRS Unveils the Dirty Dozen List for 2018

IRS Unveils the “Dirty Dozen” List for 2018

Every tax season, the Internal Revenue Service releases what it terms the “Dirty Dozen” list of top tax scams. While some of the scams listed may not change from year to year—if the bad...
Security Summit Reminds Tax Pros to Protect EFINs, PTINs

Security Summit Reminds Tax Pros to Protect EFINs, PTINs

Income tax professionals from preparers to CPAs and EAs are being reminded to maintain and monitor their various identification numbers that enable them to e-file. The reminder comes from the Security Summit, the joint effort between the IRS, state taxing agencies and tax industry partners that’s been tasked with helping to find winning strategies against identity theft and income tax refund fraud.

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Tax Year 2017 Desk Reference Guide

Tax Year 2017 Desk Reference Guide
When you’re in the midst of a busy tax season, it helps to have important information consolidated, organized, and easily within reach.

2017 “How Do Your Tax Prep Fees Stack Up?” Results

2017 How Do Your Tax Prep Fees Stack Up?
Drake Software surveyed more than 2,800 tax professionals in October, looking at tax prep fees by professional certification, like CPAs, EAs, and attorneys; the estimated number of returns for the upcoming filing season; and more.  

Budget Bill Passed, Renews Tax Extenders

Budget Bill Passed, Renews Tax Extenders
After a brief shutdown overnight, the House voted to reopen the government by passing a $400 billion budget that increases spending caps, raises the debt ceiling, and provides disaster relief for Texas, Florida, and Puerto Rico. President Trump signed it into law this morning.
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