Jessica L. Jeane, J.D. Managing Director, Public Policy President Biden has signed an Executive Order (EO) effectively requiring new IRS online tools and services. The White House on December 13, 2021, issued the Executive Order on Transforming Federal Customer Experience...
Alexandria, VA, November 22, 2021 — NSA sent a letter to the IRS and Congress calling attention to the need for improved transparency from the IRS in its communications with both taxpayers and practitioners, as well as the importance of increased funding for the agency. It is NSA’s position...
The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million...
IRS Definition of a Farm IRC Section 2032A(e)(4): The term “farm” includes stock, dairy, poultry, fruit, furbearing animal, and truck farms, plantations, ranches, nurseries, ranges, greenhouses or other similar structures used primarily for the raising of agricultural or...
It’s difficult to claim you prepare a better tax return than someone down the street. However, you can claim an area of expertise your competition doesn’t have. A Narrow Focus Will Help You Spur Growth As a small business owner, the concept of saying “no” to a prospect seems...
Most tax professionals know by now that under The Protecting Americans from Tax Hikes (PATH) Act of 2015, the rules for eligibility as Qualified Leasehold Improvements (QLI), Qualified Restaurant Property, and Qualified Retail Property with a 15 year recovery period are now permanent....
Many students get summer jobs. It’s a great way to earn extra spending money or to save for later. Here are some tips for students with summer jobs: 1. Withholding and Estimated Tax. If you are an employee, your employer normally withholds tax from your paychecks. If you are self-employed...
A complicated tax code is hurting the U.S. economy, according to a Tax Foundation report. Americans will spend more than 8.9 billion hours filing taxes in 2016—an "eye-popping amount of time" that costs the economy $409 billion in lost productivity, according to the report, released June...
The Internal Revenue Service just announced that the publicly available data on electronically filed Forms 990 will now be available for the first time in a machine-readable format through Amazon Web Services (AWS) . The publicly available data does not include donor information or other...
If you filed for an extension of time to file your 2015 federal tax return – and you benefit from advance payments of the premium tax credit being made to your coverage provider – it’s important you file your return sooner rather than later. You must file your 2015 tax return and...
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