A new online portal automates the submission of powers of attorney and tax information authorizations, and there are plans to expand its functionality over time.
A CPA shares advice for organizations and practitioners on single audits and why more expertise is needed, and an AICPA vice president explains the reasons behind the organization’s support of a bill recently introduced in the House of Representatives.
COVID-19 sick and family leave credits may be claimed for vaccination paid time off ... IRS extends e-signature authorization for 6 months ... Receipt of bitcoin cash as a result of a hard fork is gross income to taxpayer
The IRS warns taxpayers of unscrupulous tax promoters in the fourth installment of its annual list of common tax scams.
Hear why the AICPA is backing proposed legislation that would categorize accounting as a STEM career; also, get the scoop on the “Dirty Dozen” tax scams.
The IRS in Rev. Proc. 2021-14 specifies procedures regarding limitation and carryback of net operating losses from farming in light of CARES Act provisions.
The IRS announced that is has added a new feature to its Child Tax Credit Update Portal to allow individuals to enter bank information so they can receive advance child tax credit payments by direct deposit.
The IRS explains which meals qualify for a temporary 100% expense deduction.
Learn about the important role some CPAs play in the success of the IRS’s certified professional employer organizations program.
Individuals working past age 65 who want to continue contributing to a health savings account need to carefully follow Medicare’s enrollment rules to avoid significant penalties.
The debtor's argument that a loan wasn't shown to have been used solely to pay higher education expenses is unavailing.
ARPA temporary measures are quantified in a revenue procedure.
Congress clarified that business expenses resulting in loan forgiveness are deductible, but some taxpayers had followed earlier, contrary IRS guidance.
A bill recently proposed in Congress would authorize Treasury to regulate paid tax return preparers, and the AICPA strongly supports it.
The IRS warns of tax-related scams in a third of four installments.
In the second installment of this year’s “Dirty Dozen” list of tax scams, the IRS warns taxpayers to be vigilant for fraudulent schemes in the form of emails, text or social media messages, and phone calls.
The US Supreme Court declined to allow New Hampshire to sue Massachusetts over a pandemic-related regulation that allows Massachusetts to continue to collect state income tax from remote workers who normally work in Massachusetts.
Hijacking of economic impact payments and unemployment checks are spotlighted in the IRS’s annual alert, which warns taxpayers of the most prevalent scams and schemes the Service has identified.
These new blockchain-created digital assets may be treated as intangibles for tax purposes, but a dearth of guidance leaves questions.
A new IRS online portal lets taxpayers unenroll from receiving advance payments of the 2021 child tax credit.