October 18, 2023

IRS announces 2024 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants

The Internal Revenue Service recently awarded $51 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants to organizations that provide […]
October 16, 2023

IRS updates tax gap projections for 2020, 2021; projected annual gap rises to $688 billion

The Internal Revenue Service today released new tax gap projections for tax years 2020 and 2021 showing the projected gross tax gap increased to $688 billion […]
October 13, 2023

IRS reminds extension filers to have all their info before visiting a tax professional

The deadline is around the corner for taxpayers with an extension to file. It’s important for taxpayers to gather all their records and get copies of […]
October 9, 2023

IRS issues guidance for the transfer of clean vehicle credits and updates frequently asked questions

The Internal Revenue Service issued proposed regulations, Revenue Procedure 2023-33 and frequently asked questions today for the transfer of new and previously owned clean vehicle credits […]
October 5, 2023

IRS warns taxpayers of improper art donation deduction promotions; highlights common red flags

The Internal Revenue Service today warned taxpayers to watch for promotions involving exaggerated art donation deductions that can target high-income filers and offered special tips for […]
September 29, 2023

Oct. 16 tax filing extension deadline nears for millions of taxpayers

The Internal Revenue Service today reminded taxpayers about the upcoming tax filing extension deadline. To avoid a possible late filing penalty, those who requested an extension […]
September 28, 2023

Individual retirement accounts can be important tools in retirement planning

It is never too early to begin planning for retirement. Individual retirement accounts provide tax incentives for people to make investments that can provide financial security […]
September 26, 2023

Businesses must electronically file Form 8300 for cash payments over $10,000

Beginning Jan. 1, 2024, businesses that file 10 or more information returns must e-file Form 8300, Report of Cash Payments Over $10,000, instead of filing a […]
September 25, 2023

Reminder: Educational assistance programs can help pay workers’ student loans

Employers that offer educational assistance programs can also use those programs to help pay their employees’ student loans. Read the full article from IRS here: https://www.irs.gov/…/reminder-educational-assistance… […]