IRS to Stop Sending W-2 Verification Codes
The Internal Revenue Service on Friday announced that it is ending the Form W-2 Verification Code pilot program.…
Safe Harbor Clarifies QBI Deduction for Some Rental Properties
Taxpayers interested in taking the section 199A qualified business income deduction (QBI) for their rental property will be happy to learn that the IRS announced a finalized safe harbor rule this week.…
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Tax Relief Available When Disaster Strikes
While current weather patterns point to an active hurricane season, the IRS wants taxpayers to know that disaster assistance and tax relief measures are in place should a natural disaster strike.…
Finance Committee Unveils Another Tax Extenders Taskforce Summary
The Senate Finance Committee last week announced the publication of a report by its Health Tax Policy Taskforce, which was assigned with looking at the impact of expiring health-related tax extenders.…
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IRS Offers Settlement for Micro-Captive Insurance Schemes
The Internal Revenue Service is offering a limited-time settlement for certain taxpayers under audit who took part in an abusive micro-captive insurance scheme. By participating, qualified taxpayers can escape tax evasion charges, but must pay back tax owed plus penalties.…
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IRS Publishes Section 168(k) Depreciation Regulations
The IRS last Friday announced the publication of final and proposed regulations for the 100-percent depreciation deduction. The agency said that this would finalize and expand upon proposed regulations from last August.…
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Amanda on the Taxpayer Advocate Service Roadmap – E32
The Taxpayer Advocate Service recently released the Taxpayer Roadmap 2019, a visual representation of the tax return filing process.…
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New Process Lets Expats get Square with IRS
The Internal Revenue Service says it has new procedures in place that can help certain expatriated American taxpayers come into compliance with their U.S. tax obligations and get relief for back taxes.…
Drake Tax Takes 12 Categories in JofA 2019 Tax Software Survey
This week, we learned what CPAs across the country thought when the Journal of Accountancy (JofA) released the results of their “2019 Tax Software Survey.”…
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IRS to Self-Employed Taxpayers: Use the Tax Withholding Estimator
According to the IRS, self-employed taxpayers should use the Tax Withholding Estimator when they perform their next “paycheck checkup.”…
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