Recent Tax Updates
Recent Tax Updates
Resubmission Deadline for E-Filed Individual, Corporate, and Fiduciary Returns Rejected on April 15
This article provides insight into the deadlines for resubmitting e-filed tax returns that were rejected on April 15 for individual (1040), corporate (1120), and fiduciary (1041) returns.
2024 Federal Filing Deadline and Extensions for Tax Year 2023
This guide simplifies the federal filing deadlines for 2023, including extensions for disaster-affected areas, IRA contributions, and health savings account contributions. Whether you’re filing for yourself or advising clients, this article provides a clear roadmap for meeting tax obligations in 2024.
Safeguarding Tax Professionals: Watch Out for Tax Season Scams
In today’s digital era, tax professionals are prime targets for cybercriminals. With sophisticated schemes lurking around every corner, it’s crucial for tax experts to stay alert and informed about the latest threats in their field.
Read now to learn about three prevalent scams that tax professionals should be wary of.
IRS Reopens Registration Process for Certified Acceptance Agent Program
On January 19, 2024 the IRS officially ended the moratorium on the Certified Acceptance Agent (CAA) program, signaling the reopening of applications for both new participants and renewals. Read more to learn how to apply or renew your application.
Child Tax Credit Expansion: Tax Relief Act for American Families and Workers Act of 2024
The Tax Relief Act for American Families and Workers Act (HR 7024) successfully passed the House on January 31, 2024. It is currently awaiting consideration and potential voting by the Senate in the near future. Learn more:
Reminder: Include Form 8962 (Premium Tax Credit) with Your Federal Return if You Received a Health Insurance Subsidy
A reminder to include Form 8962 with your federal return if you received a health insurance subsidy. Learn more:
Tax Updates 2021
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.
Advance Child Tax Credit Payments Facts and IRS Update Tool
Facts about Advance Child Tax Credit