2024-2025 IRS Priority Guidance—Want to Opine? Per Notice 2024-28, 2024-13 IRB, the IRS invites the public to submit recommendations for items to be included on the 2024-2025 Priority Guidance Plan. This document is used by the IRS to identify and prioritize tax...
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IRS announces new effort focused on high-income taxpayers who have not filed returns
In the recent past, the IRS was not aggressively pursuing taxpayers who failed to file returns, including high income taxpayers, because of a lack of funding. This is all now changing. On February 29, 2024. the IRS announced in IR-2024-56, a new initiative focusing...
Recent case explores the IRS’ ability to take retirement assets as part of installment agreement
Installment agreements offer an alternative for taxpayers to pay off their tax debt. Instead of paying in a lump sum, those who qualify for an installment agreement can make smaller, more manageable monthly payments. There are different types which can include a...
IRS Tax Exempt/Government Entity Division 2023 Accomplishments Letter Achievements Highlighted
IRS Tax Exempt/Government Entity Division focuses on its Operational Improvements in its 2023 Accomplishments Letter which runs through the agency’s Sep. 30, 2023, fiscal year-end. The Achievements Highlighted Include: The hiring of 197 new employees: 113 Revenue...
Employment Tax Audits: What Employers Need to Know
Worried about the possibility of an employment tax audit for your business? Here are specific areas the IRS may scrutinize closely.
Inside Tax Season 2023: Updates and Intrigues
Get ready for Tax Season 2023 with updates and insights on IRS changes, court rulings, and more. Stay informed about tax filing, deadlines, and significant developments in the ever-evolving tax landscape.
The Basics of Offshore Taxes: What You Need to Know
Discover the basics of Offshore Taxes: Learn how to safeguard your wealth and navigate IRS compliance requirements.
What is a CDP and When Does It Apply?
A CDPH is an administrative hearing held before the IRS Office of Appeals (“Appeals”) offered only once per tax period for a lien and once for a proposed levy action. Prior to taking forced collection action and shortly right after a lien is filed, the IRS allows a...
Ms. Kundra is moderating the IRS Employment Tax Update and State Employment Tax at the ABA Virtual 2023 Fall Tax Meeting
October 18th, 2023, from 12:30pm EST to 2pm EST. Panels: IRS Employment Tax Update Legislative Updates - State Employment Taxes
Tax Updates In October 2023
IRC §61: Fringe Benefits & Noncommercial Flight Valuation IRS provides Standard Industry Fare Level cents-per-mile rates and terminal charge in effect for 2nd half of 2023 to determine value of non-commercial flights on employer-provided aircraft under Reg. §...