Recent Tax Updates

2021 National Cyber Security Awareness Tips

As the 2022 filing season approaches, the IRS, states, and tax industry are warning taxpayers and tax preparers to remain vigilant due to the constantly evolving threats and scams from fraudsters. These ever-evolving threats and scams can mimic the IRS and others in the tax community with fake emails, texts, and online scams. They can lurk underneath COVID-related messages, stimulus payments, or tax refunds. And they are frequently using recent tragedies or charitable groups to trick people into sharing their sensitive financial data.

National Cyber Security Awareness Week

As part of their awareness effort, the IRS held their 6th Annual National Security Awareness Week between November 29 and December 3, 2021. The goal of this awareness effort was to offer basic security guidance for individual taxpayers, tax preparers, and business taxpayers to protect themselves and their tax information from tax-related identity theft.
This year, the IRS is emphasizing the following subjects related to security and how taxpayers and tax preparers can protect themselves from identity thieves:

National Cyber Security Awareness Toolkits

The 2021 National Security Awareness Week page on the IRS website also offers the following resources and information:

  • Tax Tips for tax preparers
  • Links to posters on the topics covered by this year’s National Security Awareness week
  • Videos on security topics for tax preparers

See the following on the IRS, FTC and NIST websites for more information on what tax preparers and taxpayers can do to protect themselves from identity thieves:

Mark Castro, CPA

Mark Castro, CPA

Mark has been with CrossLink Professional Tax Solutions (CPTS) since 2008, but has been in the tax industry since 1990. As the government/tax industry liaison for CPTS, Mark has been very active in working with the IRS, States, and other tax industry members to help improve communications, promote standardization, and simplification of eFile systems. Mark has also been active with industry associations as a board member of the National Association of Computerized Processors (NACTP) and the Council of Electronic Revenue Communication Advancement (CERCA) for many years. These two associations work with the IRS and States to help solve key eFile and electronic tax system issues and work to improve the operations of the State and IRS eFile systems.

Recent Tax Updates

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.

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Form 1099-K

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.

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2023 tax filing deadline

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.

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Understanding NFT Taxes

Today’s crypto audience is seeing digital artists’ lives changed by the increase in sales circulating around NFTs, leading investors to wonder about NFT taxes.

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