Featured News
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IRS releases new EITC guidance
The IRS issued a new FAQ for the 2021 earned income tax credit (EITC) to educate eligible taxpayers on how to properly claim the credit.
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Overcoming mental blocks at work
Unlocking optimism and a growth mindset can help finance professionals move closer to their career goals.
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PPP forgiveness too slow in some cases, report finds
The SBA did not meet the 90-day statutory requirement to remit PPP forgiveness payments to lenders, according to a new report from the Office of the Inspector General.
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New phishing scams target tax pros
With tax season underway, the IRS and state tax agencies are warning tax professionals of email scams attempting to steal tax software credentials.
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IRS updates premium tax credit FAQ
The IRS updated its FAQ on the premium tax credit to include several revisions and additions regarding eligibility, reporting, claiming, reconciling and more.
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Interest rates to increase for Q2 2022
Interest rates for the second quarter of 2022 will increase starting April 1, the IRS recently announced.
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DOR fact sheet explains manufacturing tax exemptions for fuel, electricity use
A new fact sheet from the Wisconsin Department of Revenue (DOR) explains state sales and use tax exemptions for fuel and electricity consumed in manufacturing.
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WICPA joins nationwide call for delaying Schedules K-2, K-3
The WICPA is strongly supporting nationwide efforts to urge the IRS and Treasury to delay the implementation of Schedules K-2 and K-3 for the 2021 tax year.
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Proposed regulations update RMDs for SECURE Act changes
The IRS has proposed regulations that would update existing rules for required minimum distributions (RMDs) from qualified retirement plans and annuity contracts.
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Taxpayers can opt out of facial recognition program, IRS says
After significant backlash to its plans to use a facial recognition program to authenticate an individual’s identity, the IRS is offering live interviews as an alternative.