by Rupinder | Apr 22, 2019 | Uncategorized
On April 18, 2019, the IRS released IR-2019-77, announcing a multi-year plan to modernize and update the entity’s IT systems. According to the IRS statement, the drivers for these changes are grounded in customer service for both the consumer and the tax and...
by Rupinder | Feb 13, 2019 | Uncategorized
The IRS has just released information that tax preparers and accountants can share with their clients regarding tax payment options. Read more below. As the 2019 tax filing season gets into full swing, the Internal Revenue Service reminds taxpayers who owe of the many...
by Rupinder | Dec 6, 2018 | Uncategorized
During National Tax Security Awareness Week, be sure to take note of this information provided by the IRS. Be sure to share it with your clients, too. IRS, state tax agencies and the nation’s tax industry joined together to warn small businesses to be on-guard against...
by Rupinder | Nov 19, 2018 | Uncategorized
The Internal Revenue Service and Security Summit partners today warned the public of a surge of fraudulent emails impersonating the IRS and using tax transcripts as bait to entice users to open documents containing malware. The scam is especially problematic for...
by Rupinder | Nov 7, 2018 | Uncategorized
After tax reform, many corporations will pay blended tax rate Last year’s tax reform legislation replaced the graduated corporate tax structure with a flat 21 percent corporate tax rate. This new maximum tax rate for corporations is effective for tax years beginning...
by Rupinder | Nov 7, 2018 | Uncategorized
Just Released: IRS issues final regulations, expanding paid preparer due diligence requirement to head of household filers The Treasury Department and the Internal Revenue Service today issued final regulations expanding the long-standing paid preparer due diligence...
by Rupinder | Nov 1, 2018 | Uncategorized
IRSAC expands to cover more areas of the IRS; IRPAC and ACT to join centralized advisory committee in 2019 The Internal Revenue Service announced today that the Internal Revenue Service Advisory Committee’s role will expand in 2019 to have a wider portfolio and...
by Rupinder | Nov 1, 2018 | Uncategorized
The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. The IRS today issued technical guidance detailing these items in Notice 2018-83. Highlights of...
by Rupinder | Oct 31, 2018 | Uncategorized
The Internal Revenue Service today issued proposed regulations reducing the amount determined under Internal Revenue Code section 956 for certain domestic corporations that own (or are treated as owning) stock in controlled foreign corporations (CFCs). The Tax Cuts...
by Rupinder | Oct 29, 2018 | Uncategorized
Each year, hurricanes and other natural disasters leave widespread damage in their wake. In addition to property losses, disasters can have an effect on victims’ taxes. The IRS wants taxpayers to know that when a disaster strikes, the agency is here to help. Here are...
