Featured News
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IRS bolsters digital scanning abilities
The IRS has scanned more than 120,000 paper forms 940 since the start of this year as part of its new digital intake initiative.
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New standard provides risk-based approach to group audits
The AICPA Auditing Standards Board recently issued SAS No. 149, a standard that introduces a risk-based approach to planning and performing a group audit.
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FASB studying AI use in financial data analysis
The surge in the use of conversational artificial intelligence (AI) has prompted scrutiny of the technology’s role in financial decisions.
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IRS clarifies required minimum distribution reporting
The IRS has provided guidance to financial institutions regarding reporting for required minimum distributions (RMDs), the rules for which the SECURE 2.0 Act changed.
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2023 supplemental application period now open for LITC grants
The IRS is now accepting supplemental applications for Low Income Taxpayer Clinic (LITC) matching grants from all qualified organizations.
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DOR releases February 2023 Economic Forecast Update
The Wisconsin Department of Revenue’s (DOR’s) latest economic forecast update indicates a mild recession of two quarters during the first half of 2023.
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IRS again warns of improper ERC claims
The IRS is again urging people to carefully review the employee retention credit (ERC) guidelines before trying to claim the credit.
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IRS tax forums resume in person this summer
For the first time since the onset of the COVID-19 pandemic, the IRS is holding its in-person forums for CPAs and other tax professionals this summer.
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DOR to send $10.4M in unclaimed property to owners
The Wisconsin Department of Revenue (DOR) is sending $3.9 million to unclaimed property owners in March, and for many, the delivery of a check will come as a surprise.
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New filing season scam involves Form W-2 wages, IRS warns
The IRS issued a consumer alert to warn taxpayers of new scams that urge people to use wage information on a tax return to claim false credits in hopes of getting a big refund.