Staying Ahead of the Curve
The Internal Revenue Service has released a new, expanded guide for tax professionals that can be used in the fight to protect data.…
GAO Urges IRS to Beef Up Taxpayer Authentication
By most accounts, the Internal Revenue Service has made big advances in data security over just a few years ago.…
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States Sue Over SALT Cap
New York, Connecticut, Maryland, and New Jersey are suing the federal government, claiming the SALT limitation is unconstitutional.…
Audit Finds FATCA Enforcement Failed
The Internal Revenue Service has spent millions of dollars trying to get taxpayers located in foreign countries to report their holdings for tax purposes. A new federal audit, however, finds the IRS has fallen short in the effort.…
IRS Now Accepting ITIN Renewals
ITINs that haven’t been used at least once in three consecutive years or contain middle digits 73, 74, 75, 76, 77, 81, or 82 will expire on December 31, 2018—unless, of course, affected ITIN holders renew before the end of the year.…
Tax Treatment of Dependents is a Different World Now
The passage of the Tax Cut and Jobs Act in December, 2017 marked a sea change in how dependents are treated on the average Form 1040.…
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So You Got a Letter from the IRS
At a time when phishing scams have consistently been in the news, it’s understandable that taxpayers would be cautious about responding to letters from “the IRS.” Luckily, the IRS has suggestions for…
Postcard-Sized Form 1040 Rumored to Replace 1040A and 1040EZ
While Treasury Secretary Mnuchin teased the imminent release of the administration’s newly resurrected promise of a postcard-sized Form 1040 last Thursday, a leak seems to have stolen some of his thunder. Namely, it’s rumored that the new Form 1040 is expected to also replace the 1040A and 1040EZ.…
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New 1040 is a Postcard
Look for big changes in the look of Form 1040. The tax code behind it, however, won’t be all that different.According to a published report in Accounting Today, Treasury Department officials plan to…
Don’t Miss the Deadline for the IRS Tax Forum in Atlanta
The Internal Revenue Service is reminding tax professionals that they don’t have much longer to attend the IRS Nationwide Tax Forum event held in Atlanta, GA on July 10-12.…
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