Recent Tax Updates
Tax Updates 2022
Top Refundable Credits in the Inflation Reduction Act
The Inflation Reduction Act became law on August 16, 2022 and included many new tax provisions. This article highlights the provisions and refundable credits that impact individual taxpayers.
Key Takeaways from the 2022 Summer IRS Security Summit
2022 IRS Security Summit The Internal Revenue Service and the Security Summit partners continue their efforts to remind tax preparers that identity thieves are increasingly
Top 2022 IRS Dirty Dozen Tax Scams
The IRS has posted its annual Dirty Dozen list of tax scams for 2022. Continuing its 20 year legacy, the annual Dirty Dozen list is
31 Latest States with a Pass-Through Entity Tax
Pass-Through Entity Tax A total of 31 states have enacted or are considering legislation that creates a pass-through entity tax as a workaround to the
Changes to Accessing IRS E-Services
In November of 2021, the IRS began switching many of their online services applications to a new authentication platform.
IRS Online Account
On February 22, 2022, the IRS announced they have included a new option for individuals to use to authenticate themselves when setting up their individual IRS Online Account.
Tax Updates 2021
IRS Identity Protection PIN is Available to All Taxpayers
As part of its wider effort to increase security, the IRS is reminding taxpayers that the IRS Identity Protection PIN Opt-In Program is available to all taxpayers who can verify their identity.
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.
Tax Law Changes 2021
The 2021 Consolidated Appropriations legislation that was passed last December and the American Rescue Plan included the following changes to federal tax provisions and extended expiring provisions so that they are still applicable for 2021.
Child and Dependent Care Tax Credit
For taxpayers who had qualifying expenses for their children or other qualifying person, the American Rescue Plan Act of 2021 (ARPA) increases the likelihood that these taxpayers will be able to qualify for the Child and Dependent Care Tax Credit (CDCTC) and receive a larger credit for 2021.
2021 IRS Tax Identity Theft Campaign and Tax Preparers
Continuing what the IRS, tax industry, and State tax agencies started back in 2015, the Security Summit partners have created a 2021 campaign to urge tax preparers to take basic actions to help stop theft of their own personal data and their clients’ tax data from their offices.
Taxpayer Authorizations and Tax Pro Online Account
The IRS has recently added a new feature to Individual Online accounts that allows individual taxpayers to authorize their tax preparer to represent them before the IRS by allowing them to electronically sign the Power of Attorney (POA) that was initiated by their tax preparer.