Taxes August 31, 2022
Lawmaker Says Massachusetts Students Will Not Pay $500 in Taxes on Student Debt Cancellations
Rep. Steven Owens said the state Legislature has exempted forgiven student loans from taxable income.
August 30, 2022
California Man Pleads Guilty to $25 Million PPP Loan Fraud Involving Pro Athletes
Conspired to prepare and file with the IRS a series of false and fraudulent income tax returns on behalf of at least nine professional athletes.
August 30, 2022
Florida Tax Preparer Gets 1 Year in Prison for Contempt
Convicted of criminal contempt for continuing to prepare and file tax returns with the IRS in violation of a federal court order barring him from doing so.
August 30, 2022
AICPA CEO Says Claims of a Militarized IRS are Misleading Myths
In a statement, AICPA president and CEO, Barry Melancon, CPA, CGMA, addressed various false claims about militarization of the agency ...
Advisory August 30, 2022
New Intuit Tax Advisor System Integrates Tax Prep and Advisory
ITA generates client-friendly reports with recommendations that are personalized for estimated tax savings strategies.
August 29, 2022
AICPA Releases Exposure Draft and Invitation to Comment on Proposed Revisions to Tax Standards
Updates to the SSTSs will better reflect the issues and needs of members and the tax practices of today and in the future.
Accounting August 29, 2022
AICPA Submits Comments on Virtual Currency Question on Form 1040 and Instructions
The AICPA is requesting that the question can be clarified before the 2022 forms are finalized in order to provide greater certainty to taxpayers and their preparers and to ...
August 25, 2022
IRS Sending Extra Refunds to 1.6 Million Americans in 2022
Many Americans may receive an extra refund this fall from the Internal Revenue Service. Those who were assessed a late penalty on their ...
August 25, 2022
IRS to Send $1.2 Billion in Penalty Relief Refunds in September 2022
The Internal Revenue Service will be sending out $1.2 billion in refunds in September to millions of American individuals and businesses, the agency has announced.
August 25, 2022
The Tax Blotter – Aug. 2022
The Tax Blotter is a bite-sized round-up of recent tax issues.
August 24, 2022
How to Speak to Your Clients About the IRS
There are several factors that explain how the IRS has failed to meet their commitment to service for the American people.
August 19, 2022
AICPA Endorses Bipartisan Letter Urging Action on IRS Tax Return Backlog
The backlog of unprocessed mail, returns and adjustments at the IRS has reached a critical stage that is adversely impacting taxpayers and tax practitioners.