WPVCPA Posts

January 8, 2024

Tax credits and deductions for individuals

Tax credits and deductions change the amount of a person’s tax bill or refund. People should understand which credits and deductions they can claim and the […]

October 27, 2023

IRS encourages employers to electronically file payroll tax returns

The Internal Revenue Service today reminded employers that the best way to file their next quarterly payroll tax return by the Oct. 31, 2023, due date is electronically. […]

October 24, 2023

IRS: Beware of fake charities; check before donating

With the tragic crises and natural disasters happening around the globe, many are responding to the call to give what they can to help. The Internal […]

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 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 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 15, 2023

Tips to help taxpayers make sure their donations go to legitimate charities

Scammers solicit donations to fake charities and can pose as employees of legitimate charities or federal agencies to dupe disaster victims trying to get disaster relief. […]