Recent Articles
The IRS boosts capabilities for digital scanning.
As part of its brand-new Digital Intake initiative, the IRS has scanned more than 120,000 paper forms 940 since the beginning of the year. Since the beginning of the year, the IRS has scanned more than 120,000 paper forms 940,...
Rules for deducting mortgage interest are tightened by the tax court.
The new case includes a complicated series of exchanges where three siblings intermixed their business and individual interests. Can mortgage interest on a home you own be deducted? The rules have been tightened by recent tax laws, but expert borrowers...
AICPA Comments on Changes to Section 162(m) of the American Rescue Plan Act of 2021.
Beginning in 2027, Current Law Cover Employees and the following five highest-paid employees will include in a public company’s cover employees for the calendar year. The American Institute of CPAs (AICPA) has provided reviews to the Department of the Treasury...
Tax Season’s Best Practices to Avoid Identity Fraud – 2023
Tax preparers and filers must work together to secure their data and financial resources in order to combat identity theft and cybercrime. Every year, tax season is stressful. Tax preparers are inundated by frantic clients who want to assist them...
Taxpayers are being asked by IRS Criminal Investigation to expose the following scam.
IRS-CI will post information about tax fraud on its social media platforms during National Consumer Protection Week, which runs from March 5 to 11. The IRS Criminal Investigation unit will spend National Consumer Protection Week educating taxpayers about some of...
A new law makes Roth 401(k) accounts more popular.
Starting in 2023, a participating employee who is 50 or older can contribute up to $30,000 or up to $22,500 in elective deferrals. Numerous individuals are underestimating the existence of the Roth 401(k). It was introduced as an alternative to...