Tax

Procedure for obtaining EINs to change May 13

Beginning May 13, the IRS will accept employer identification number (EIN) applications only from individual taxpayers who have either a Social Security number or an individual taxpayer identification number as the responsible party on the EIN application.

Tips to ease the stress of Form 990 preparation

IRS Form 990 is a complex, comprehensive form that can be a big challenge for a not-for-profit organization to prepare. Brian Yacker, CPA, J.D., managing partner of YH Advisors, describes best practices for a stress-free and compliant preparation of Form 990.

IRS expands relief from underpayment penalty

The IRS announced that it is lowering from 85% to 80% the amount taxpayers are required to have paid in order to escape an underpayment of estimated income tax penalty for 2018.

IRS’s Dirty Dozen scams — 2019 edition

The IRS highlighted the 12 abusive tax schemes it wants taxpayers and tax practitioners to be on the alert for this year. Phishing and scam phone calls were the biggest repeat offenders.

Court upholds IRS PTIN fees

The IRS has authority to charge a user fee for preparer tax identification numbers (PTINs) a federal appeals court held on, paving the way for the agency to reinstate the charges for obtaining and renewing a PTIN.

Mentoring tax staff

A well-designed, well-executed, and well-managed mentoring program can be an advantageous investment for a tax firm.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.

SPONSORED REPORT

Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.