January 16, 2019
The IRS announced recently that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.
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January 7, 2019
The IRS has confirmed it will process tax returns beginning Jan. 28, 2019 and provide refunds to taxpayers as scheduled.
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December 21, 2018
The Internal Revenue Service recently outlined common errors that may delay processing of Centralized Authorization File numbers as well as reminded tax professionals of steps they should take annually to help protect their number from misuse.
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December 20, 2018
The Internal Revenue Service, in partnership with the tax preparation community, has devised a new process that will allow tax practitioners to access employer information needed for return preparation and electronic filing while also protecting taxpayer data.
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December 18, 2018
The IRS has issued guidance on excess business loss limitations and net operating losses post-reform.
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December 17, 2018
The IRS is warning tax professionals about an uptick in phishing emails involving payroll direct deposit, wire transfer and W-2 scams.
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December 14, 2018
The Internal Revenue Service recently issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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December 11, 2018
The Department of Revenue has important updates about business tax and franchise and excise tax. This includes information about new account numbers, consolidation and other filing tips.
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December 10, 2018
The Internal Revenue Service recently issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017. The new rules assist taxpayers in determining the amount of parking expenses that are no longer tax deductible. They also help tax-exempt organizations determine how these nondeductible parking expenses create or increase unrelated business taxable income.
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December 7, 2018
The Internal Revenue Service recently issued Notice 2018-97, offering guidance on a recent tax law change that allows qualified employees of privately-held corporations to defer paying income tax for up to five years on the value of qualified stock options and restricted stock units granted to them by their employers.
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