Income Tax

 ADP Testing New W-2 Verification Code to Fight Tax ID Theft

December 11, 2015 

ADP Testing New W-2 Verification Code to Fight Tax ID Theft

For selected clients, ADP will include the Verification Code in a designated box of the 2015 Forms W-2 issued to its clients’ employees. ADP will generate the alphanumeric code based on select data elements on each Form W-2, and an algorithm provided ...

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December 9, 2015 

AICPA Objects to New Bill to Regulate Income Tax Preparers

The new bill was proposed after a prior regulatory program was successfully challenged in court by unlicensed tax return preparers (Loving, et. al. v. IRS, CA- D.C., No. 13-5061, 2/11/14). Subsequently, the IRS instituted a voluntary program.

How to Differentiate from Screen Printing 1  565f168ca2d57

December 3, 2015 

5 Ways to Differentiate Your Firm From The Pack This Tax Season

In differentiating your firm, you can speak in greater detail about the focused services you offer and the value of those solutions to clients. Furthermore, you no longer have to communicate to the masses, but rather can directly target to the ...

 Report Says Enforcing Payment Card Reporting Could Narrow Tax Gap

November 30, 2015 

Report Says Enforcing Payment Card Reporting Could Narrow Tax Gap

The IRS received 2,933 Forms 1099-K with gross transactions totaling $543.9 million for which the payee TIN was that of a deceased individual. TIGTA identified that the TIN Matching Program, used by payers to verify a payee TIN, does not alert the ...

Tax ID Theft 1  54d6d07eafd9c

November 29, 2015 

Stopping Taxpayer ID Theft: The IRS Means Business

The three main partners in the program – the IRS, the states and other tax industry sources –will also be releasing additional YouTube videos highlighting these tips as the tax filing season approaches. The first video in the series is now available ...

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November 23, 2015 

IRS Updates FATCA Registration Website

The Foreign Account Tax Compliance Act (FATCA) Online Registration System is a secure, web-based system that financial institutions and other entities can use to register for FATCA purposes. Launched in 2013, the system allows the IRS to identify ...