Legal News
Proposed Regulations on Charitable Contributions and State and Local Tax Credits
The Treasury Department and the IRS issued proposed regulations this week providing rules on the availability of charitable contribution deductions when the taxpayer receives or expects to receive a corresponding state or local tax credit. The proposed regulations are...
New Redacted Tax Transcript to Debut Sept. 23
The IRS this week unveiled a new format for individual tax transcripts that makes taxpayer information more secure. The new format redacts personally identifiable information but keeps financial entries visible, allowing tax professionals and third-parties the data...
IRS Withholding Calculator How To
See a demonstration of how to do a paycheck checkup using the IRS Withholding Calculator by watching this new YouTube video, https://youtu.be/xjsVeXccfHY. You can also watch this video on IRS Withholding Tips and other videos on the IRS’s YouTube Channel. IRS e-News...
Updated Foreign Account Tax Compliance Act Registration System
The IRS has updated the Foreign Account Tax Compliance Act (FATCA) Registration System to incorporate the certification of pre-existing accounts and periodic certification process. The updated Registration System also includes: A new option to submit a certification...
Protect Your Clients, Protect Yourself: Beware of Spear Phishing Emails
In the fourth part of the Tax Security 101 series, the IRS and its Security Summit partners remind tax professionals that spear phishing remains the most common way data thieves enter practitioner’s digital networks and steal client information. Tax professionals who...