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IRS Reports 'Strong Start' to 2024 Filing Season
Taxation
The IRS reported “a strong start to filing season 2024, with all systems running well” after releasing its 2024 Filing…
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House Blocks Bill to Raise SALT Deduction Cap
Taxation
On Feb. 14, the U.S. House of Representatives blocked a bill to increase the state and local tax (SALT) deduction cap, The…
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IRS Sues FDIC Over Silicon Valley Bank Debts
Taxation
The IRS has sued the Federal Deposit Insurance Corporation (FDIC), seeking to recover an estimated $1.45 billion tax debt…
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Taxpayers Should Look out for Seven Warning Signs of Bad Employee Retention Credit Claims
Taxation
As has been well-documented by now, the IRS has been coping with fraudulent claims for the Employee Retention Credit (ERC),…
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Proposed Bill Would End Federal Taxation of Social Security Benefits
Taxation
Rep. Angie Craig (D-Minn.) has introduced a bill to eliminate federal taxes on Social Security income, beginning in 2025,…
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House Bipartisan Tax Bill May Change in the Senate
Taxation
The tax legislation passed by the House of Representatives last month contained extended tax breaks for businesses and an…
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AICPA's Melancon Discusses Pipeline Challenges and Pending Tax Changes
Taxation
In his annual speech to the Accountants Club of America on Feb. 1, AICPA President and CEO Barry C. Melancon presented an…
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Tax Bill Ending Employee Retention Credit Could Affect Some Financial Advisers
Taxation
A bipartisan tax bill passed by the U.S. House of Representatives last month would be paid for by ending the Employee…
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IRS Warns Tax Pros of Scams Targeting EFINs
Taxation
The IRS and its Security Summit partners have raised an alert about fraudulent mails that impersonate various software…
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