Tag Archives: IRS
Last year, the IRS announced new Schedules K-2 and K-3 for the 2021 tax year. These schedules were introduced to standardize the reporting of international tax items that were previously reported on Schedule K-1. The IRS published updated instructions for Forms 1065, 1120-S and 8865 on Jan. 18, 2022, stating that entities with no foreign […]
The Service recently responded to widespread confusion surrounding changes made through the Tax Cuts and Jobs Act by announcing that taxpayers can often still deduct interest on a home equity loan, home equity line of credit or second mortgage, without regard to the label placed on the loan. Tax reform imposed a lower limit of […]
Did you know that, as part of the IRS’s new program, whistleblowers may recover 15 to 30 percent of the amount collected (provided the taxes and amounts in dispute exceed $2 million)? The fact is that over the last 10 years, the federal government issued record-breaking awards to whistleblowers to reward those who report misconduct. Several federal agencies […]
Here’s what you need to know about Revenue Procedure 2017-34.
(Video) Tax Professionals Are the Target of This Phishing Scam – Don’t Become a Victim
By Surgent CPE
We talked to Craig W. Smalley, EA, Founder & CEO of CWSEAPA, PLLC, a multi-state tax firm, about a phishing scam that’s targeting tax professionals. CPAs, EAs, and tax preparers: find out how not to become a victim.
The IRS announced the latest “Dirty Dozen” scams. As this year’s tax season nears the finish line, keep in mind that taxpayers are subject to these scams year-round.
On January 17, the IRS published draft Form 7004 Instructions, extending the due date for C corporation returns to October 15, 2017.
Lien Foreclosure & Subsequent Sale of Property Owned by Innocent Party OK’d in District Court: What this Means for Property Co-Owners
By Surgent CPE
Lien Foreclosure & Subsequent Sale of Property Owned by Innocent Party was recently OK’d in District Court. Surgent’s Director of Tax & Advisory Content shares his thoughts on why tax delinquency issues should be explored among co-owners prior to purchase and titling.
IRS Guidance Permits Same-Sex Couples to Recalculate Tax Treatment on Prior Gifts or Bequests
By Surgent CPE
The IRS posted guidance (2017-15) permitting same-sex married couples to recalculate the prior transfer tax treatment of gifts and bequests made before the U.S. Supreme Court deemed Defense of Marriage Act (DOMA) unconstitutional.
As you prepare to file taxes for your clients and yourselves this tax season, we’ve highlighted the most important tax court decisions, tax law changes, and IRS rulings that will impact your filings.
