Most tax-season-preparation checklists include updating software, reviewing tax law changes, earning continuing professional education credits, and training seasonal staff. Creating or updating a written information security plan (WISP) is one often-overlooked item that should make everyone's list. After all, tax professionals are required by the Federal Trade Commission’s Safeguards Rule to have one of these plans in place to protect client information.…

Read more about Security Summit Announces New Sample Security Plan

Many people review user ratings for critical insight when considering a new product, and annual tax-preparation software surveys are a rich resource for tax professionals. The surveys draw clear comparisons of user experience in areas that directly impact office performance. Seeing how applications stack up against the competition can influence the decision to switch, especially when peers overwhelmingly praise one solution.…

Read more about Drake Takes 10 Categories in Journal of Accountancy Survey!

It would be an understatement to suggest that interest in virtual currency grew during the early days of the pandemic. By 2021, virtual currency (or cryptocurrency) had seemingly arrived as a mainstream investment vehicle—with exchanges even purchasing Super Bowl ads featuring Hollywood celebrities.…

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This summer, the country has been hammered by extreme weather—from oppressive heat waves to torrential rains. In response to deadly flooding in Eastern Kentucky, the Internal Revenue Service announced tax relief for counties the Federal Emergency Management Agency declared disaster areas.…

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It’s never too early to start planning for the next tax season. For millions of tax pros, that means figuring how to make their operations more secure.…

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The pandemic forced businesses across the country to adjust how they served customers. Many customer-facing businesses adopted services like curbside pickup to protect both their employees and customers—programs proving so popular they outlived the restrictions that gave rise to them.…

Read more about 2022 Contactless Tax Preparation [Infographic]

One of the Internal Revenue Service’s main advisory committees is asking Congress to give the agency the funding it needs to function well. The recommendations, split into two categories, come from the Electronic Tax Administration Advisory Committee, or ETAAC, in its annual report to Congress.…

Read more about ETAAC Recommends IRS Funding, MeF Enhancements

Every year, the Internal Revenue Service hosts the Nationwide Tax Forum, providing tax professionals the opportunity to learn more about topics like tax law and cybersecurity. Unfortunately, the registration window for this year's event is about to close.…

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National Taxpayer Advocate Erin Collins says the Internal Revenue Service is concerned about the 21.3 million paper-return backlog. In her midyear report to Congress, Collins notes that low-income families could face financial burdens as affected refunds are frequently delayed by 10 months.…

Read more about IRS Delays, Backlog Concerning to National Taxpayer Advocate

The Internal Revenue Service started using voice bots on many of its toll-free telephone lines around the first of the year. The system has already helped more than 3 million taxpayers avoid wait times for simple questions about payments or notices, and the agency is adding more options.…

Read more about IRS Voice Bots Get New Options