Tax Newsletter December 2023

In this Issue: More Q & A from the Fall Virtual Series IRS Opens Annual Self-Certification and E-file Application URL Registration IRS Reduces Fees to Obtain or Renew a PTIN 1040 MeF Production Shutdown Schedule Employee Retention Credit Eligibility Checklist: Publication5887 Educational Assistance Programs Can Help Pay Workers’ Student Loans Reminder: Payers Filing Erroneous Information Returns […]

Q&A Summary 2023 Fall Tax Seminars

The Q & A from the Fall Virtual Seminars are below. 1099 -K Issues What happens if you receive 1099k which includes business income and repayment for example pay for the whole bill and people and then send you a reimbursement. The 1099-k includes business income and personal deposits mixed. You are going to have […]

Tax Newsletter November 2023

In this Issue: IRS Announces Withdrawal Process for Employee Retention Credit Claims Proposed Regulations for R&D Credit Coming Requesting § 6103 Information from OPR FinCEN Requests Comments on Beneficial Ownership Information Reporting Deadline Extension Notice of Proposed Rulemaking IRS Extends Relief to Farmers and Ranchers in 49 states, Other Areas Impacted by Drought; More Time […]

Tax Newsletter October 2023

2023 Basics & Beyond Tax Blast- October 2023 In this Issue: ERC Moratorium on Processing New Claims through December 31, 2023 IRS to hire 3,700 Employees Nationwide Large Case Revenue Agents Cash Payments Over $10k Must Be Reported Online Next Year IRS Issues Frequently Asked Questions for Pass-through Entities to Report Negative Amounts to the […]

Tax Newsletter September 2023

In this Issue: Corporate Transparency Act – New Requirement for Most Businesses Beginning January 1, 2024 IRS Announces Administrative Transition Period for New Roth Catch‑up Requirement; Catch-up Contributions Still Permitted After 2023 – IR-2023-155, Aug. 25, 2023  IRS Issues Prop Regs on Reporting by Brokers for Sales and Exchanges of Digital Assets – IR-2023-153, Aug. 25, […]

Tax Newsletter August 2023


In this Issue: IRS Spring Regulatory Agenda Includes Three Final and Several Proposed Regulations Expected in December Client Letter: Know the Signs of an Employee Retention Credit Scam Learn the Warning Signs of Employee Retention Credit Scams IRS Commissioner Signals New Phase of Employee Retention Credit Work; with Backlog Eliminated, Additional Procedures Will be Put […]

Tax Newsletter July 2023

bipartisan bill

In this Issue: Taxpayers Face Deadline to Claim Tax Year 2019 Refunds Authorized IRS e-file Providers/EROs information Concerning Fingerprints Helpful Information for the Military Personnel Client – Reminder for Us Bipartisan Bill Would Move Estimated Tax Deadlines to Quarterly Basis – NOT LAW YET – Heads Up Chief Counsel Advice Discusses FICA Refunds Form I-9 […]

Tax Newsletter May 2023

I hope you are resting after tax season. TAKE A BREAK! And read this newsletter.. In This Issue: Werfel Settles into Role as New IRS Commissioner Where Are We with the Federal Debt a Report Identifies Tax Cuts as Primarily Responsible Basis Adjustment Does Not Apply to Assets of Irrevocable Grantor Trust Retirement Plan and […]

Tax Newsletter April 2023

In This Issue: Chief Counsel Advice 202302011 – Loss for Crypto Due to Decline of Value Chief Counsel Advice 202302012 – Appraisal Needed for Donated Crypto Notice 2023-21, §6511- Limitations on Credit or Refund—Allowance of Credits and Refunds—Amount of Credit or Refund Filed Within 3 Years – Important Supreme Court: Non-willful FBAR Penalty Applies Per-Report, […]

Tax Newsletter March 2023

In This Issue: IRS Opens Free Portal to File Information Returns Client Update: How to Treat Tips for Tax Purposes Which Employment Tax Records to Keep and For How Long? IRS Saturday Hours for Face-to-Face Help – IRS Assistance Centers Open Across the Nation Keep Up to Date on Expiring Provisions CPAs Promote Simplicity, Fairness […]