Tax Practice News
When to File an Amended Federal Tax Return: A Guide for Taxpayers
When taxpayers realize their federal tax return has a math error, missing income or other mistake, they should file an amended tax return. Read more
Apr 26, 2024
Understanding Reportable Transactions: What Tax Preparers Need to Know
While rare, tax preparers must disclose reportable transactions on most returns. Understanding which transactions require disclosure is crucial for all preparers to ensure compliance. Read more
Apr 25, 2024
If You Missed the Federal Tax Filing Deadline, IRS Assistance is Available
Missed the April tax deadline? File ASAP. IRS aids those unable to pay in full. File promptly if you owe to reduce penalties and interest. Read more
Apr 24, 2024
The New Dirty Dozen: Top 2024 Tax Scams
The IRS released its 2024 "Dirty Dozen" list of top tax scams, cautioning taxpayers and preparers. Clients may face ERTC credit claim scams. Stay alert to protect against fraudulent claims. Read more
Apr 23, 2024
The Fate of a Finished Filing Season Still in Limbo
The 2024 tax season is ending with fewer hiccups and changes compared to previous years. Pending legislation and court decisions may bring uncertainty for preparers in the future. Read more
Apr 16, 2024