Taxes June 23, 2023
Transcripts From Hunter Biden Probe Released by House Ways and Means
The panel voted along party lines to make public 400 pages of transcripts from interviews with two IRS employees.
Taxes June 22, 2023
H&R Block Partners with Microsoft for Tax Prep AI
The system uses thousands of machine learning models trained with millions of tax returns, AI algorithms, and generative AI technology.
Taxes June 22, 2023
Ex-NFL Linebacker Bill Romanowski Owes $15 Million in Unpaid Taxes, Court Filing Says
The IRS seeks to finally collect on a ballooning tax bill for the 16-year NFL star and his wife that dates back 25 years.
Taxes June 21, 2023
House Ways and Means to Review Tax Documents of ‘High-Profile Individual’
The panel scheduled the June 22 meeting on Tuesday hours after Hunter Biden agreed to plead guilty to tax evasion charges.
Taxes June 21, 2023
‘What a Difference a Year Makes!’: IRS Has Made a Huge Dent in Tax Return Backlog
In her midyear report to Congress, National Taxpayer Advocate Erin Collins shared several IRS improvements this filing season.
Taxes June 20, 2023
Democrats’ Latest Child Tax Credit Plan Pushes Bonus for Babies
House Democrats’ latest proposal to expand the child tax credit includes a new feature: a $2,000 payment for newborn babies.
Technology June 15, 2023
MyLawCLE and Tax Rep Network Partnership Provides Insider Knowledge on Working with the IRS
In addition to training sessions for IRS representation, the partnership will enable attorneys and law firms to explore adding new revenue streams to their practices with tax resolution services.
Taxes June 15, 2023
TIGTA: IRS Gave Out More Than $10 Billion in Excess Child Tax Credits in 2021
The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, TIGTA said.
Taxes June 15, 2023
Ins and Outs of the Home Sale Exclusion
Here are several key points about the home sale exclusion that you should know about before you hand over the keys.
Taxes June 15, 2023
Key In on Improved Home Energy Credits
The IRS is reminding taxpayers that they may qualify for expanded home energy credits in 2023 (IR-2023-97, 5/4/23) There are two types of credits.
Accounting June 14, 2023
WISP Required! Key Components in Your Firm’s Written Information Security Plan
While primarily targeted at companies maintaining more than 5,000 client records (think tax returns), certain safeguard components are required for firms with fewer than 5,000 records.
Taxes June 14, 2023
IRS, Treasury Issue Proposed Guidance on Monetization Options for Energy Tax Credits
The proposed rules released on June 14 focus on elective pay and transferability of credits under the Inflation Reduction Act.