Tax & Current Accounting Topics

Join the Taxpayer Advocacy Panel and help improve the IRS; apply by April 8

 https://www.irs.gov/newsroom/join-the... 

https://accountinginstruction.info/

The Internal Revenue Service today announced it is seeking civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP). Applications will be accepted through April 8.

IRS provides further details on additional relief for certain partnerships preparing schedules K-2 and K-3 for 2021 https://www.irs.gov/newsroom/irs-prov... 

https://accountinginstruction.info/

The IRS today provided further details on additional transition relief for certain domestic partnerships and S corporations preparing the new schedules K-2 and K-3 to further ease the change to these new schedules. Those eligible for the relief will not have to file the new schedules for tax year 2021.

Latest spearphishing scams target tax professionals 

https://www.irs.gov/newsroom/latest-s... 

https://accountinginstruction.info/

With tax season in full swing, the Internal Revenue Service, state tax agencies and tax industry today warned tax professionals of new email scams that attempt to steal their tax software preparation credentials.

Tax Time Guide: Make IRS.gov the first stop for tax help 02.16.22  

https://www.irs.gov/newsroom/tax-time... 

https://accountinginstruction.info/

With phone volumes continuing at historic levels, the Internal Revenue Service reminds taxpayers IRS.gov, should be the first stop for taxpayers seeking information and help with their federal taxes.

IRS updates FAQs for Higher Education Emergency Grants 

https://www.irs.gov/newsroom/irs-upda... 

https://accountinginstruction.info/

The Internal Revenue Service today updated its frequently asked questions (FAQs) on Higher Education Emergency Grants.  This updated FAQ adds questions 8 and 9 in FS-2022-11 PDF.

IRS announces an update to the Form 14457, Voluntary Disclosure Practice Preclearance Request and Application https://www.irs.gov/newsroom/irs-anno... 

https://accountinginstruction.info/

The Internal Revenue Service announced today that Form 14457, Voluntary Disclosure Practice Preclearance Request and Application PDF, has been revised, including expanding a section on reporting virtual currency.

IRS launches resource page on IRS.gov with latest details and information for taxpayers during filing season 

https://www.irs.gov/newsroom/irs-laun... 

https://accountinginstruction.info/

To help taxpayers and tax professionals, the Internal Revenue Service today announced a special new page on IRS.gov to provide the latest details and information affecting the 2022 filing season and ongoing efforts by the agency to address the inventory of previously filed tax returns.

IRS continues work to help taxpayers; suspends mailing of additional letters 

https://www.irs.gov/newsroom/irs-cont... 

https://accountinginstruction.info/

As part of ongoing efforts to provide additional help for people during this period

Tax Time Guide: American Rescue Plan changes can boost refunds for many families; people should file even if they haven’t for years https://www.irs.gov/newsroom/tax-time...  

The Internal Revenue Service today urged Americans to file a 2021 federal income tax return so they can take advantage of key tax benefits included in the American Rescue Plan and other recent legislation.

Low Income Taxpayer Clinics represented nearly 20,000 taxpayers dealing with an IRS tax controversy 

https://www.irs.gov/newsroom/low-inco...

 https://accountinginstruction.info/

The Internal Revenue Service's Low Income Taxpayer Clinic (LITC) Program office today announced highlights from its 2021 annual report PDF.