2019 Basics & Beyond Tax Blast- September 2019
Issue 1: Individuals with Significant Tax Debt Should Act Promptly to Avoid Revocation of Passports Clients should resolve their significant tax debts to avoid putting their passports in jeopardy. They should contact the IRS now to avoid delays in their travel plans later. Under the Fixing America’s Surface Transportation (FAST) Act, the IRS notifies the […]
Basics & Beyond Tax Blast-August 2019
Congratulations to AJ Reynolds for being selected to speak at the National Association of Tax Professionals in Chicago last month! August 2019 Issues Issue 1: Tax Security 2.0 “Taxes. Security. Together.” Checklist Leaders from the IRS, state tax agencies and the tax industry today called on tax professionals nationwide to take time this summer to […]
Basics & Beyond TAX Flash June 2019
Guidance has slowed down considerably over the last few weeks. We are still expecting additional guidance on QBI and its effect on cooperatives, and IRS announced future proposed regulations to clarify certain aspects of the centralized partnership audit regime. The IRS released the Data Book for 2018 showing range of tax data including audits, collection […]
Basics & Beyond TAX Flash May 2019
After working for the IRS for 27 years, we would all prepare for the three seasons; tax season, notice season and education season. Audits happen all year long and most of IRS education takes place, when there is a budget, throughout the year. As for us the tax professional, most education begins in June and […]
Basics & Beyond TAX Flash March 2019
Key Issues for Practitioners We are now knee deep in the middle of tax season. As of this writing, we are unsure how fast refunds are being issued and how far behind IRS is with correspondence. Many requests came in to discuss some key issues related to the Qualified Business Income Deduction. For those who […]
Miscellaneous Itemized Deductions: A Guide for Tax Professionals
As a CPA, EA, or other tax professional, your clients look to you for guidance when it comes to maximizing their deductions. They want to save as much on their annual tax bill as they can manage, and they trust that you’ll do everything you can to help them achieve that goal. Historically, itemized deductions […]
Real-Life Ethics for Accountants
If you’re a professional in the field of accounting or tax preparation, you know how important it is to keep up with changes in the occupation from year to year. Whether it’s a multi-day seminar on a big topic like tax reform legislation, or a quick CPE webinar with a small scope, you’ll need to […]
Why Tax Seminars are Important for Lawyers
All lawyers in the United States must take a certain number of continuing legal education (“CLE”) credits every year. CLE classes are mandatory in each state for lawyers to maintain their licenses. These classes may focus on their specific area of practice, but they can also instruct on other areas of the law. Lawyers can […]