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IRS urges tax professionals, taxpayers to protect tax software accounts with multi-factor authentication
The IRS and its Security Summit partners today called on tax professionals and taxpayers to use the free, multi-factor authentication feature being offered on tax...
IRS, Treasury issue proposed regulations updating income tax withholding rules
The U.S. Department of the Treasury and the Internal Revenue Service today issued proposed regulations updating the federal income tax withholding rules to reflect changes...
2020: The year of the amended tax return
The Further Consolidated Appropriations Act, enacted on Dec. 20, 2019, included a number of tax changes with retroactive impact, requiring taxpayers and their advisors to...
Help staff let off steam during busy season
As accounting teams trudge into the long winter months, laboring to make hard busy season deadlines, it can help to turn down the pressure from time to time. We asked...
IRS launches Identity Theft Central
The Internal Revenue Service today launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for...
Tax Identity Theft Awareness Week Runs Feb. 3-6: Resources You Need to Know
Tax identity thieves and IRS imposters are ready for tax season, whether you are or not. Join the FTC and its partners for Tax Identity Theft Awareness Week to find out...
IRS outlines new tax law effect on tax exempt organizations
The Internal Revenue Service wants tax-exempt organizations to know about recent tax law changes that might affect them. The Taxpayer Certainty and Disaster Tax Relief...
Churches, nonprofits win repeal of federal tax
While Democrats have repealed much of the GOP’s tax overhaul, there have been some tweaks, including the elimination of a tax levied on churches, universities and other...
IRS: Don’t Rush To Take 2020 IRA RMDs, You Might Not Have To
The Internal Revenue Service is giving financial institutions a break when it comes to notifying retirement account holders about the new rules for taking required payouts...
How the TCJA Affected Deductions for Hobbies
It’s more than just semantics when it comes to the difference between a “business” and a “hobby.” While you can deduct ordinary and necessary business expenses—and even a...