Recent Tax Updates

Updated Publication 1345 is Now Available

The IRS has posted an updated Publication 1345 (Handbook for Authorized IRS e-file Providers of Individual Income Tax Returns) to their website. It is important that all EROs read this publication to be sure they are complying with all of its requirements.

Here are highlights of the areas that have changed:

  • Added information about using some basic security steps to protect taxpayer’s data to the Safeguarding IRS E-File section
  • Made changes to reporting security incidents in the IRS e-file Security, Privacy and Business Standards section.
  • Updated the Credit and Debit Card Payments section.
  • Updated Payment Options section.
  • Added Reporting of Potential Identity Theft Refund Fraud to Transmission Section.
  • Added information on the addition of 1040X (Amended) returns to the e-file program.

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.

Read More »
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.

Read More »
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.

Read More »

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.

Read More »