Advice

The IRS is opening the application period for the 2020 Compliance Assurance Process program, and for the first time since 2015 new corporate applicants who meet eligibility requirements can apply. The application period runs Sept. 16 to Oct. 31. The IRS will let applicants know if they’re accepted into the program around the end of
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Tax resolution — appearing before taxation authorities to untangle the knots of a practitioner’s own clients, and sometimes the referred clients of others — seems a natural extension of tax prep. Some preparers dive into this work, while some do it only for select clients, and some draw the line at a distinct point in
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Even as the Internal Revenue Service grappled with tax-related identity theft in recent years, the number of ID theft cases investigated by its Criminal Investigation division dropped significantly, according to a new report. The report, from the Treasury Inspector General for Tax Administration, was the result of a review of CI’s efforts against identity theft
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From preparer regulation and Section 199A to the ramifications of the Wayfair decision and the various new versions of the Form 1040, Natonal Conference of CPA Practitioners president Neil Fishman discusses the main issues that the group raised with legislators and regulators in its annual visit to Washington, as well as the topics of concern
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The Internal Revenue Service issued a revenue procedure Tuesday adding one country, Georgia, a former Soviet republic that’s located between Europe and Asia, to the list of countries with which the U.S. has in force an information exchange agreement so that interest paid to the residents of those jurisdictions must be reported by payors. Revenue
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Some advantage; Justice done; everyone needs a hobby; and other highlights of recent tax cases. Santa Ana, California: Preparer Karla Montano, a.k.a. Karla Cervantes Montano and Karla Esmeralda Montano, 31, has admitted that she submitted fraudulent income tax returns to the IRS, claiming fraudulently inflated tax refunds. Montano has agreed to plead guilty to five
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The Internal Revenue Service is warning taxpayers and tax practitioners about a new email phishing scam in which criminals are impersonating the IRS, sending unsolicited emails with subject lines like “Automatic Income Tax Reminder” or “Electronic Tax Return Reminder” that appear to come from the IRS. The IRS and its partners in the Security Summit
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The Sales Tax Institute is calling for applications for its first-ever Sales Tax Nerd Award, which will recognize a sales tax professional for their passion for the field. Applicants must have attended at least one institute course, currently work in sales tax in some professional capacity and “demonstrate a commitment to learning and a passion
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Most CPAs are familiar with the tax benefit of using an interest charge – domestic international sales corporation, or IC-DISC. What many do not realize is the additional benefit that can be generated by paying particular attention to the method of calculation. Oftentimes IC-DISC commissions are calculated using either the 4 percent qualified export receipts
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