Truckers Face August 31 Deadline
Long-haul truckers and others who own heavy highway motor vehicles are running out of time to file their federal highway use tax return by August 31.…
Security Summit Highlights ID Theft
The tax industry partners who make up the Security Summit are urging practitioners to take a page out of the medical books in order to keep their computer systems healthy: to cure an infection, you first have to know your patient is sick.…
IRS Announces August Child Tax Credit Payments Now Being Issued
The Internal Revenue Service says millions of families across the U.S. should see their advance payment of the Child Tax Credit (CTC) in their bank accounts or mailboxes any day now.…
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New Notice Includes Work Opportunity Tax Credit Relief
New guidance from the Internal Revenue Service seeks to clear the air on the Work Opportunity Tax Credit (WOTC) for employers and gives relief to them as well.…
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Security Summit Shines Light on Phishing Scams
The Security Summit is this week broadening the scope of its 2021 “Protect Your Clients; Protect Yourself” campaign to include the different types of phishing scams that taxpayers may see in the coming months. This immediately follows the Summit highlighting recent unemployment compensation scams.…
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New Guidance Aimed at Employers Claiming Employee Retention Credit
New guidance from the Internal Revenue Service aims to help employers better understand the employee retention credit—and how they can qualify for it.…
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IRS: Update EIN Responsible Party Information
Some IRS forms are considered “file and forget” documents, meaning once filed they normally don’t require any additional attention. The Internal Revenue Service, though, is reminding that the application for an Employer Identification Number (EIN) isn’t one of them.…
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COVID Paid Leave Credit Clarified for Employers
The Internal Revenue Service has updated its guidance on expanded paid sick and family leave tax credits available to employers who provide the leave to their workers.…
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Security Summit Recommends IP PINs for Taxpayers
Tax professionals are a frequent target for identity thieves and cybercriminals, who are interested in accessing client tax records and, in some cases, the software used to file tax returns. The second week of the Security Summit’s “Protect Your Clients; Protect Yourself” campaign focuses on helping taxpayers protect their return by highlighting the benefits of an IP PIN.…
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More Unemployment Tax Refunds Coming, IRS Says
The Internal Revenue Service says it’s not done issuing refunds for tax paid on COVID unemployment benefits. Another 1.5 million taxpayers are now slated to get refunds averaging over $1,600 as part of the IRS adjustment process in the wake of recent legislation.…
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