The Internal Revenue Service is reminding tax professionals that they don't have much longer to attend the IRS Nationwide Tax Forum event held in Atlanta, GA on July 10-12.
A review by the Taxpayer Advocacy Service has found that private debt collection agencies working on the IRS’ behalf may be forcing many taxpayers into payment plans they cannot afford. Accounting Today reports that Nina...
Trade groups are asking Congress to make some tweaks to last year’s Tax Cuts and Jobs Act that provided tax cuts to individuals and businesses. The legislation was drafted in secret and pushed through the legislative process in a hurry. Now errors are coming to light that need attention.
The latest phishing attack aimed at income tax professionals is proof positive that tax offices can’t let their guard down just because tax season is over. This new assault mimics or “spoofs” an email from a legitimate state taxing agency or a tax professional organization.
Tax professionals are being warned to be on the lookout for a new round of phishing emails aimed at stealing their email usernames and passwords. The Internal Revenue Service says the new wave of scam emails pose as being from state accounting or professional associations.
The IRS yesterday announced that they have begun sending tax bills to those who filed returns but didn’t pay their entire balance. In June or July, taxpayers who still have a balance with the IRS will receive a letter—possibly a CP14 or CP501 Notice—informing them about the remaining amount.
The IRS says it will be issuing regulations in the near future aimed at clarifying just how state and local tax payments can be deducted for federal income tax purposes. The issue goes back to late 2017, when Congress passed the tax cut bill known as the “Tax Cuts and Jobs Act.”