Tax Newsletter July 2024

taxes marriage

IRS has issued new FAQ’s on a few topics, and we have included a few reminders on some issues.  TIGTA reports are always interesting as well as for nothing else then clarification on what IRS is doing right or wrong.  With 2024 being an election year – most legislation is stalled – so now is […]

Tax Newsletter June 2024

In this Issue: Watch Out for These Current Scams Tax Pros: Use Current Version of Offer in Compromise Booklet To Protect Against Identity Theft, IRS Adds Additional Protectionsto Centralized Authorization File, Transcript Delivery System; Changes Designed to Protect Sensitive Tax Pro, Taxpayer Information  Procedures for §355 PLR Requests Updated Home Improvements Could Help Taxpayers Qualify […]

Tax Newsletter March 2024

This month we are including the Taxpayer Advocate annual report which defines many of the issues IRS faces and how they intend to improve on.  It is worth a read, as it identifies key points which we as tax professional struggle with such as delays in correspondence and processing. It also acknowledges the improvements IRS […]

Tax Newsletter February 2024

File storage

In this Issue: Beneficial Ownership Information (BOI) & the Corporate Transparency Act (CTA) Resource Materials Developed by A.J. Reynolds Taxpayers Should Continue to Report All Cryptocurrency, Digital Asset Income Business Digital Asset Transaction Reporting Delayed – Form 8300 E-file Unavailable for Form 990-T and Form 1120-POL until March 17, 2024. An Extension Can be Filed […]

Tax Newsletter January 2024

tax provision

In this Issue: 60 Tax Provisions for Tax Year 2024 – Revenue Procedure 2023-34 – IR-2023-208, Nov. 9, 2023 Employee Retention Credit IRS reminder: Still Time to Withdraw Pending ERC Claims Credit for Builders of New Energy-Efficient Homes IRS: 2024 Flexible Spending Arrangement Contribution Limit Rises by $150 Preparers Receiving Due Diligence Reminders OPR Issues […]