IRS Voluntary Continuing Education Program and PTIN Requirement for Federal Tax Return Preparers
This page is designed to help you understand PTINs and the IRS requirement to have one and renew it each year, as well as the IRS Voluntary Education Program.
IRS Direct File Pilot Program
On October 17, 2023, the IRS announced more details on the new IRS Direct File Pilot which will be introduced during the upcoming 2024 filing season.
2023 Energy Efficient Home Improvement Credit
Energy Efficient Home Improvement Credit Included in the Inflation Reduction Act of 2022 was the Energy Efficient Home Improvement Credit (formerly known as the Nonbusiness Energy Property Credit). Is the Energy Efficient Home Improvement Credit Refundable? Taxpayers that make qualified energy-efficient improvements to their existing home in 2023 can qualify for a nonrefundable tax credit […]
2023 Used and Commercial Clean Vehicle Credits
Used and Commercial Clean Vehicle Credits The Inflation Reduction Act included two new credits for clean vehicles. They are the Credit for Previously Owned Clean Vehicles and the Commercial Clean Vehicle Credits. Both credits go into effect in 2023 and are available through 2032. Here are the details for each of these two credits: Used […]
2023 Residential Clean Energy Credit
The Inflation Reduction Act of 2022 extended and increased the Residential Energy Credit and renamed it the Residential Clean Energy Credit.
2023 IRS Security Summit
This year’s Security Summit tax professional summer campaign is emphasizing the following series of simple actions that they can take to better protect their clients and themselves from sensitive data theft.
34 Latest States with a Pass-Through Entity Tax
Pass-Through Entity Tax A total of 34 states have enacted legislation that creates a pass-through entity tax as a workaround to the $10,000 cap on the state and local taxes (SALT) itemized deduction. What is Pass-Through Entity Tax? The pass-through entity tax (PTE) allows partnerships and S Corporations to elect to be taxed at the […]
Clean Vehicle Tax Credit: Qualifications and Rules for Electric Vehicle Purchases
Clean Vehicle Tax Credits for 2023 and Beyond This article provides details on the three credits for electric vehicles and fuel cell vehicles that are included in the Inflation Reduction Act that became law in August of 2022 and go into effect in 2023. New Clean Vehicle Tax Credit Tax Credit for Used Clean Vehicles […]
Understanding Form 1099-K
Form 1099-K is an IRS information return used to report payment card and third-party network transactions on a federal tax return for businesses, sole proprietors, individuals, and gig economy workers.
2023 Tax Filing Deadline
The federal 2023 tax filing deadline for Tax Year 2022 individual tax returns, also known as Tax Day, is Tuesday, April 18, 2023. This day is also the filing deadline for calendar year C Corporations (1120) and Estate/Trust (1041) returns.