AICPA Provides Recommendations to Simplify Procedures for Generation-Skipping Tax Exemption
These recommendations will simplify filing for taxpayers and practitioners and will reduce the administrative burden on the IRS as well.
These recommendations will simplify filing for taxpayers and practitioners and will reduce the administrative burden on the IRS as well.
The new guidance pertains to the Inflation Reduction Act's 1% excise tax owed on corporate stock repurchases or buybacks.
When it comes to taxes, misleading information on social media can lead to financial or even legal problems, the IRS said.
The key to securing and maintaining clients will always be trust. In order to safeguard your CPA firm's reputation and integrity, security is paramount.
The IRS told tax professionals last week it’s making changes that will impact how practitioners obtain a client's tax transcripts.
Residents of New York state are burdened by taxes the most, while Alaska residents have the lowest tax burden, a WalletHub study found.
However, taxpayers will need to reduce the basis of the property when they sell it by the amount of the rebate, the IRS said last week.
Clients are constantly facing the risk of encountering tax scams, even outside of the annual tax season, as digital threats evolve. It’s important to remain vigilant by staying informed and building up defenses against attacks.