Here’s How to get the Farm Bill to the Finish Line
Congress may have bought themselves another year to hash out a farm bill, but countless agriculture groups and organizations have significant priorities that have yet to be addressed.
Tax Prep Fees are Rising Because Accounting is not a ‘Cool’ Career
A national shortage of CPAs and support staff is driving up prices. American taxpayers had to pay at least 20% more on average to get their taxes done last year — and accountants aren’t thrilled about it either.
IRS Seeks Outside Help with Identifying Errors During Filing
The IRS is searching for contractors to support its plans to catch errors on tax returns when they are initially filed to avoid the need to fix them later — potentially with help from artificial intelligence.
Taxpayers Concerned About Fraudulent ERC Claims Must Act Now
While Covid-19 relief appropriations pulled many businesses from the brink of demise, an onslaught of associated fraud has come to the surface, especially regarding claims for the employee retention credit.
R&D Regs, Minimum Tax Changes Top Corporate 2024 Watch List
Corporate tax advisers are gearing up clients for 2024 tax code changes to research and development expenses, an election year that could determine the fate of some high-profile laws, and corporate minimum taxes, among other regulatory actions from the IRS and Treasury Department.
IRS to send taxpayers a ‘special reminder letter’ about debt. Who may get one and what to expect
After a two-year hiatus on automated collection notices, the IRS said it will soon resume sending such letters — and experts have tips if you receive one.
IRS to Wipe Clean $1 Billion in Penalties as Collection Resumes
Nearly two years after the IRS hit pause on issuing automated collection reminder notices, the agency has set a date to begin resuming that work and coupled it with a clean slate for millions of affected taxpayers.
Five benefits of the biggest trend CPAs will see in 2024
As we approach the holiday season, I would like to extend my warmest greetings and best wishes for a joyous and prosperous new year. As the year closes, we all tend to find ourselves focused on resolutions, should we make them, and if so, in what areas. For those of us in the professional services arena, such resolutions usually include, how may the year 2024 be improved, both for our people and our clients
IRS Shuffles Leadership Roles in Revamp With Fresh Funds
The IRS is revamping the top of its organizational structure for the first time in two decades, the agency announced Wednesday.
IRS restructures leadership
The Internal Revenue Service has reorganized its leadership structure at the top, with a single deputy IRS commissioner instead of two,…