IRS Notes TCJA Changes to ABLE Accounts
The Internal Revenue Service last week issued a Tax Tip outlining how the Tax Cuts and Jobs Act (TCJA) will affect section 529A ABLE accounts.…
Delaware Governor Signs Tax Preparer Regulations
Delaware Gov. John Carney has signed legislation aimed at protecting the state’s taxpayers from unscrupulous tax professionals.…
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IRS Says Changes Coming to Compliance Assurance Program
According to a recent IRS press release, changes are coming to the Compliance Assurance Program (CAP), which has helped large corporations avoid tax problems by working closely with the IRS Large Business and International division prior to filing since 2005.…
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Audit Finds Business Identity Theft Controls Still Lacking
A report from the Treasury Inspector General for Tax Administration (TIGTA) finds that despite measures by the Internal Revenue Service to flag possibly fraudulent business returns, a significant number of bogus returns are slipping through.…
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IRS Clarifies Charitable Contribution Regs
The Department of the Treasury and the IRS have issued some clarification on proposed regulation changes covering deducting charitable contributions when there’s also a state or local tax credit for the same contributions.…
Robin Miles and Bob Nolan on TCJA Individual Changes - EP16
Drake Software's Federal Tax Manager, Robin Miles, and Lead Tax Analyst, Bob Nolan, joined me in the studio to discuss the broader implications of the Tax Cuts and Jobs Act for the Tax Year 2018 filing season.…
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IRS to Revamp Tax Transcript
When it comes to getting our information from the IRS now, security is king. So it only makes sense that the Internal Revenue Service is changing how it delivers the individual tax transcript to those taxpayers and tax pros who request it.…
IRS Updates Guidelines for Passwords
Strong passwords are the first “lock” hackers and identity thieves will hit if they break into your computer. These new recommendations will help ensure those locks hold.…
Security Push Aims to Protect EFINs
The Internal Revenue Service, along with its Security Summit partners, are warning tax professionals to pay close attention to their IRS-issued identification numbers.…
NATP Annual Software Survey Results
The NATP recently released the results to their annual tax software survey—giving 1,324 participating tax professionals a chance to rate their current tax preparation package. Categories range from overall satisfaction with the product to whether respondents intend to use the same software next tax season. As in years past, Drake Software had a strong showing.…
