Accounting May 30, 2023
The CPAs asked members of Congress to support the Freedom to Invest in Tomorrow’s Workforce Act, a bill that would expand eligible uses of 529 savings plans.
Taxes May 30, 2023
The agency says marketing fraudsters are misrepresenting and exaggerating who can qualify for the employee retention credit.
Taxes May 29, 2023
Biden and McCarthy announced a deal to increase the government's debt limit, enabling the nation to avoid a debt default and economic turmoil.
Taxes May 26, 2023
The IRS is actively auditing and conducting criminal investigations related to these false claims. People need to think twice before claiming this.
Taxes May 25, 2023
The bill would allow taxpayers to automatically qualify for an extension without fear of penalty by paying a simple, easily-calculated amount of 125 percent of their prior year’s tax liability.
Taxes May 24, 2023
The $141 million settlement stems from allegations that Intuit charged people for services that should have been free.
May 24, 2023
The American Institute of CPAs (AICPA) has endorsed bipartisan legislation introduced by Representatives Judy Chu (D-CA) and Mike Carey (R-OH) to simplify the tax filing extension process.
Taxes May 24, 2023
As of March 2, the IRS flagged 1.1 million tax returns with $6.3 billion in refunds for potential identity fraud, said TIGTA in a new report.
Taxes May 24, 2023
Beginning on July 1, the rate for overpayments and underpayments for individuals will be 7% per year, compounded daily.
Taxes May 22, 2023
As the IRS plans to prioritize providing additional guidance as stated in the IRS Strategic Operating Plan, the AICPA encourages the IRS to issue guidance on recommended areas.
Taxes May 22, 2023
What if the IRS was more digitized? Well, they’re trying to do just that.