March 18, 2024

March 22 deadline approaching to resolve incorrect Employee Retention Credit claims; IRS urges businesses to review questionable claims to avoid future compliance action

With a key March 22 deadline rapidly approaching, the Internal Revenue Service renewed calls for businesses to review the Employee Retention Credit (ERC) guidelines to avoid […]
March 14, 2024

Seven warning signs of incorrect Employee Retention Credit claims

Some unscrupulous promoters have marketed misleading information about Employee Retention Credit eligibility rules to well-intentioned businesses. The IRS is highlighting seven suspicious signs and urging business to seek a trusted tax […]
March 13, 2024

IRS alert: Beware of companies misrepresenting nutrition, wellness and general health expenses as medical care for FSAs, HSAs, HRAs and MSAs

Amid concerns about people being misled, the Internal Revenue Service today reminded taxpayers and heath spending plan administrators that personal expenses for general health and wellness […]
March 11, 2024

Tax Time Guide: Taxpayers should report digital asset transactions, gig economy income, foreign source income and assets

The Internal Revenue Service reminds taxpayers they’re generally required to report all earned income on their tax return, including income earned from digital asset transactions, the […]
March 5, 2024

Time is running out: IRS encourages eligible non-filers in 2020 to claim their Recovery Rebate Credit before May 17 deadline

The Internal Revenue Service today reminded those who may be entitled to the COVID-era Recovery Rebate Credit in 2020 that time is running out to file […]
March 4, 2024

IRS: Never mind the myths; know the facts about receiving a Form 1099-K in 2024

To help taxpayers with filing, the Internal Revenue Service today debunked some common myths to help taxpayers understand what to do with Form 1099-K. Read the full […]
February 29, 2024

Tax pros: Watch out for EFIN scams

A recurring scam this filing season targets tax professionals with a spearphishing email to collect their Electronic Filing Identification Numbers. Tax pros should be alert to […]
February 28, 2024

Low Income Taxpayer Clinic is now taking applications for supplemental grants

The Internal Revenue Service today announced it will accept supplemental applications from all qualified organizations for Low Income Taxpayer Clinic (LITC) matching grants from Feb. 26 […]
February 22, 2024

Interest rates remain the same for the second quarter of 2024

The Internal Revenue Service today announced interest rates will remain the same for the calendar quarter beginning April 1, 2024. Read the full article from IRS […]