IRS Announces More FBAR Examinations In 2024
adminCHICAGO - NOVEMBER 1: Current federal tax forms are distributed at the offices of the Internal ... Revenue Service November 1, 2005 in Chicago, Illinois. A presidential panel today recommended…
Untangling The Hairy Situation Between Beauty Salons, Restaurants And The IRS.
Congress created a big incentive for restaurants and bars to report employees’ tips, which can be good for workers, too—even if many don’t believe it. So why hasn’t it done…
IRS Leaker Of IRS Tax Data To The Press Is Charged With Tax Crimes
Internal Revenue Service federal building Washington DC USAgetty An Internal Revenue Service consultant has been charged with disclosing a cache of tax return information without authorization. You can read about…
How to Become an Authorized Third-Party IRS Representative
The IRS encourages all taxpayers to know their representation rights and the different types of authorization for third-party representatives. As a professional tax preparer, you can help your clients understand…
IRS Provides Tax Relief for Vermont Flood Victims
Victims of recent catastrophic flooding in Vermont have additional time to file (and in some cases ... pay) your federal taxes.fake images Flood victims in Vermont now you have until…
IRS eFile Direct Pilot Program: Pre-Filled Tax Returns
The Internal Revenue Service (IRS) recently published a study about the feasibility of a government-run direct filing program for taxpayers ahead of the agency's planned start of a Direct eFile…
Tips throughout the year for businesses to prepare for the inevitable IRS audit
As an attorney helping clients with audits, I see simple mistakes turn into big problems. If you are a small business owner, you must follow the record keeping rules and…
Hobby or business, why it is important to the IRS and your taxes
A file photo of a Red Audit stamp on a US 1040 individual income tax return. Photographed at 50mp ... with the Canon EOS 5DSR and the 100mm 2.8L lens.Getty…
IRS Reconfirms Ban, FSA Health Consequences, and DCAP Verification Shortcuts
IRS Lead Counsel Memo 202317020 (March 29, 2023) Available in https://www.irs.gov/pub/irs-wd/202317020.pdf The IRS Office of General Counsel has released a memo that addresses the justification requirements for dependent care and…
IRS Issues Revised Form 8915-F to Report Qualified Disaster Distributions and Refunds
Form 8915-F (Qualified Disaster Retirement Plan Distributions and Refunds) and Instructions (Revised January 2023) Shape Instructions The IRS has issued revised Form 8915-F and Instructions for Individual Taxpayers to Report…