Tax & Current Accounting Topics

Interest rates remain the same for the first quarter of 2022 

https://www.irs.gov/newsroom/interest... 

https://accountinginstruction.info/

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2022. The rates will be:

IRS Tax Tip

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

 https://accountinginstruction.info/

IRS resources help taxpayers determine if an offer in compromise is the right way to resolve tax debt

Scam risks remain during pandemic; Security Summit focuses special week on taxpayer, tax professional protection against identity theft https://www.irs.gov/newsroom/scam-ris... 

https://accountinginstruction.info/

With the 2022 tax season and the holidays rapidly approaching, the Internal Revenue Service, state tax agencies and the nation's tax industry today announced a special week focusing attention on taxpayers protecting sensitive financial information against identity thieves.

IRS provides answers to states and local governments on taxability and reporting of payments from Coronavirus State and Local Fiscal Recovery Funds 

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

https://accountinginstruction.info/

The Internal Revenue Service today provided answers regarding Coronavirus State and Local Fiscal Recovery Funds (SLFR Funds).

IRS Criminal Investigation releases annual report highlighting 2,500+ investigations, law enforcement partnerships https://www.irs.gov/newsroom/irs-crim... 

https://accountinginstruction.info/

Over 2,500 criminal investigations, the identification of more than $10 billion from tax fraud and financial crimes,

IRS: All of Mississippi now qualifies for expanded Hurricane Ida relief; Sept. 15, Oct. 15 deadlines, other dates extended to Jan. 3 https://www.irs.gov/newsroom/irs-all-... 

https://accountinginstruction.info/

Victims of Hurricane Ida throughout Mississippi now have additional time--until January 3, 2022--to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

IRS unveils new online identity verification process for accessing self-help tools 

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

https://accountinginstruction.info/

The Internal Revenue Service today announced the launch of an improved identity verification and sign-in process that enables more people to securely access and use IRS online tools and applications.

IRS offers how-to videos to help taxpayers apply for Offers in Compromise and avoid scams 

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

 https://accountinginstruction.info/

The Internal Revenue Service today unveiled a new how-to video series enabling taxpayers to avoid potential scams by considering and applying for an Offer in Compromise (OIC) themselves and avoid paying excessive fees to companies advertising outlandish claims.

IRS Advisory Council issues 2021 Annual Report

Tax professionals can now order more transcripts from the IRS