Featured News
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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.
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Alerting clients to tax season scams
If clients report getting suspicious calls claiming to be from the government or a financial institution, direct them to resources that can help identify the risks.
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IRS seeks new TAP volunteers
The IRS is now accepting applications to serve on its Taxpayer Advocacy Panel (TAP).
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PPP, ERC lead to sustained business for firms, survey finds
Compliance and consulting work tied to COVID-19 relief created new business opportunities for CPA firms, a recent consulting firm survey finds.
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More updates to 2021 recovery rebate credit FAQs
The IRS recently updated its FAQs for the 2021 recovery rebate credit.
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IRS offers further relief for Schedules K-2, K-3
Most passthrough entities will not have to file Schedules K-2 and K-3 for tax year 2021, according to new guidance from the IRS.
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Updated Form 14457 expands virtual currency section
The IRS has revised its Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, to include an expanded section on reporting virtual currency.
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U.S. Finance Committee to discuss IRS service challenges
The U.S. Senate Committee on Finance will discuss IRS customer service challenges at 9 a.m. CST on Thursday, Feb. 17.
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Firms consider keeping certain pandemic-led changes
Accounting firms are assessing pandemic-led shifts in the workplace moving forward, according to a new survey.