Featured News

The IRS is warning tax professionals of a two-stage email scam from cybercriminals posing as clients soliciting tax services.

The IRS has provided transition penalty relief to partnerships in complying with new rules for reporting partners’ capital account balances.

Certain individuals will not be subject to the Sec. 6654 penalty on the underpayment of estimated income taxes if the underpayment is solely attributable to the recent repeal of the excess business loss limitations, the IRS announced.

The Wisconsin DOR has updated its instructions to state 2020 income/franchise tax forms, explaining how to report Wisconsin differences from federal law.

The DOR has opened its electronic filing system to manufacturers required to file 2021 Manufacturing Personal Property (M-P) and Real Estate (M-R) Returns (M-Forms).

Notice 2021-11 addresses how employers who elected to defer certain employees’ taxes can withhold and pay the deferred taxes throughout 2021 instead of just the first four months.

The IRS will host a special webinar to highlight major tax changes from a tax forms perspective at 2 p.m. CST on Tuesday, Feb. 2.

The IRS is reminding taxpayers of several important dates for taxpayers to keep in mind for this filing season.

The SBA and Treasury have published updated PPP loan forgiveness guidance and forms, including a one-page application for borrowers that received a PPP loan of $150,000 or less.

Newly issued guidance from the SBA and Treasury details how PPP borrowers should calculate revenue reduction and maximum loan amounts for second-draw loans.