States Sue Over SALT Cap
New York, Connecticut, Maryland, and New Jersey are suing the federal government, claiming the SALT limitation is unconstitutional.…
"Security Six" Help Safeguard Tax Pros’ Client Data
When it comes to keeping your business’ data secure – and that of your clients – you now have some new items on your to-do list.…
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Tax Pros Urged to Increase Data Safeguards
The Internal Revenue Service and members of the Security Summit warn the nation’s tax professionals that it’s time to improve security measures for protecting their data and the data of their clients.…
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.…
LTPA on How to Help Multi-Cultural Clients – EP13
In this episode, Drake Software Vice President John Sapp and I are joined by two representatives from the Latino Tax Professionals Association to discuss issues facing multi-cultural clients: President and CEO of Lopez Tax Service and LTPA Executive Director, Carlos Lopez, EA, and LTPA Vice President of Business Development, Tony Martinez, EA.…
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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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ETAAC Annual Report Stresses Importance of Data Security
The Electronic Tax Administration Advisory Committee (ETAAC) presented an annual report to Congress on June 27 emphasizing the importance of fighting identity theft tax refund fraud.…
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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…
IRS Says New 1040 to use “Building Block Approach”
Last week, draft copies of the new Form 1040 that is also rumored to be a replacement for the 1040A and 1040EZ began circulating. By the end of the week, the IRS confirmed several rumors when it issued a press release outlining the pending changes in broad terms.…
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