Main Street Practitioner Blog

Tax and Accounting News for Practitioners from Main Street to Wall Street

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    IRS e-Services update

    The IRS will announce this afternoon that e-Services must be accessed via a Secure Access account.  The changeover will occur on the afternoon of December 10.   The IRS website will be updated with this information this afternoon, along with FAQs and other information.   ...

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    Senate Passes Tax Reform Bill

    The Senate passed its version of the tax reform bill early Saturday morning on a vote of 51-49. The vote came after last-minute negotiations between Senate leadership and key holdouts who had concerns about the treatment of pass-through entities, the state and local tax deduction, and the effect the ...

  • House Republican leaders today formally introduced what they hope will be their signature legislative achievement in the 115th Congress: a sweeping tax reform bill that lowers individual and business tax rates, while also broadening the base by repealing or limiting many tax preferences. The "Tax ...

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    e-Services update from IRS

    This is an update  on critical issues currently affecting e-Services users.    Because the IRS is still reviewing its contract options for an identity-proofing vendor, the move of e-Services to Secure Access authentication will be delayed. The transition was originally planned for later this ...

  • Secretary Mnuchin has announced that David J. Kautter, Treasury’s Assistant Secretary for Tax Policy, will serve as Acting IRS Commissioner when my term ends next month. As Treasury’s top tax official, Kautter oversees development and implementation of tax policies and programs as well as reviews ...

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    E-Services Scam Alert

    The IRS is sending the following QuickAlert today to users of e-Services: The IRS today warned all e-Services users to beware a new phishing scam that tries to trick tax professionals into “signing” a new e-Services user agreement. The phishing scam seeks to steal passwords and data. All tax professionals ...

  • The National Society of Accountants (“NSA”) is pleased to submit comments on the Exposure Draft of Proposed Section 14(q) of the Uniform Accountancy Act, or UAA. As you may know, NSA is a voluntary association of Certified Public Accountants, Enrolled Agents, licensed public accountants, and other financial ...

  • The House Ways and Means Committee this afternoon released a bill that would provide tax relief to those impacted by the recent hurricanes.  It is expected the bill will receive consideration in the House and Senate in the very near future. Enactment of the “ Disaster Tax Relief and Airport and Airway ...

  • Brian L. Thompson, CPA, of Bailey & Thompson Tax & Accounting in Little Rock, AR was elected President of the National Society of Accountants (NSA) at its recent 72nd Annual Convention in Reno, NV. He will serve in the position for one year. Thompson has more than 20 years of experience as an ...

  • The IRS today released Announcement 2017-13  which provides relief to victims of Hurricane Irma, which caused damage to Florida and several other areas.  It permits easier access to victims’ funds held in workplace retirement plans and in IRAs, for the period beginning September 4, 2017, and ending ...

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