Congress Introduces Tax-Preparer Regulation Legislation
Anyone preparing a tax return for compensation must have a PTIN issued by the IRS, but there are no requirements associated with obtaining a PTIN&mdas…
Taxes
35 Million: The Total Backlog of Tax Returns The IRS Had At The End Of Tax Season
The IRS had a backlog of more than 35 million tax returns at the end of tax season this year – and many of those people are awaiting tax refunds….
Did You Get a Letter from the IRS? Don’t Panic.
Now that most tax refunds are deposited directly into taxpayers’ bank accounts, the dream of opening your mailbox and finding an IRS refund check is…
The IRS is Resuming Collection & Enforcement Activities That Were Paused During COVID-19
The IRS is reporting that it is resuming “certain collection and enforcement processes that had been suspended because of the coronavirus pandem…
Don’t Lose Your Passport Because of Unpaid Federal Debt
The IRS has begun issuing notice CP508C to taxpayers with “seriously delinquent” tax debt and the service has resumed its program of notif…
Made a Mistake on Your Tax Return – What Happens Now?
Generally speaking, tax return mistakes are a lot more common than you probably realize. Taxes have grown complicated and COVID tax relief has made ma…
Are You at Risk for A Trust Fund Penalty?
When an employer withholds Social Security and income taxes from an employee, those funds are the property of the government, and the employer must ho…
Unpaid Debt Taking Your Tax Refund?
We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never arrived? It may be because you have outstanding…
The US Loses Out On $1 Trillion a Year Due to Tax Cheats, IRS Estimates
IRS Commissioner Chuck Rettig has announced the US may be losing up to $1 trillion a year in evaded taxes. Among the tax evasion techniques are crypto…
Tax Filing Deadlines Are Rapidly Approaching
Just a reminder to those who have not yet filed their 2020 federal tax return that thanks to the IRS extending the filing due date, May 17, 2021, is t…
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