Wisconsin Storm Victims get Tax Relief
Residents of eight Wisconsin counties who fell victim to recent severe weather events there have been granted tax relief measures by the IRS.…
IRS Impersonators Sentenced to Federal Prison Terms
Five members of a criminal ring that posed as IRS agents to extort money from taxpayers have been sentenced to federal prison. Their sentences ranged from over 11 years to nearly 4 years.…
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PTIN Renewals Underway for Tax Pros
Now that the 2018 tax season is officially over, it’s time for tax professionals to renew their Preparer Tax Identification Number, or PTIN. All current PTINs will expire on Dec. 31.…
TIGTA Audit Finds IRS Needs to Improve 501(c)(4) Examinations
The Treasury Inspector General for Tax Administration (TIGTA) released a report on October 4 that found the IRS needs to do a better job when investigating section 501(c)(4) organizations suspected of engaging in “impermissible political activity.”…
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IRS Offers Webinars for Tax Reform Changes
The Internal Revenue Service has scheduled three national webinars giving tax professionals an overview of the tax reform changes they’ll face in the coming 2019 tax season.…
IRS Future State Shifted to Part of Five-Year Plan
The “Future State” initiative debuted in 2014 and featured an online portal that allowed taxpayers to communicate with the IRS and to deal with their taxes online.…
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Tax Relief Coming for Taxpayers Affected by Hurricane Michael
According to NOAA, we are well into the worst part of hurricane season—a fact punctuated by two significant storms making landfall less than one month apart. While emergency workers brave treacherous conditions to restore shattered communities, other state and federal agencies help the recovery effort in other ways.…
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GAO Sees Good News, Bad News in IRS Security Efforts
The Internal Revenue Service has done a lot over the last few years to bring its systems up to speed with the latest online security measures.…
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More Time to Replace Livestock due to Drought
While too much rain due to tropical storms and hurricanes has been the big news in the eastern U.S. recently, out west, the problem has been not enough rain. Many farmers and ranchers have had to sell off their herds of livestock because of the dry conditions.…
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IRS Addresses Deduction for Business Meals
While the Tax Cuts and Jobs Act removed the deduction for entertainment that many businesses enjoyed in years past, the IRS announced Notice 2018-76, which outlines when business owners can deduct half of the price tag for business meals.…
