The Internal Revenue Service is planning to increase the enrollment and renewal fees for enrolled agents, as the user fees for examinations are also set to rise. Last week, the IRS posted proposed regulations to increase both the enrollment and renewal user fee for enrolled agents to $140 from $67,
The Internal Revenue Service is looking to highlight the “service” in its name with the creation of its first Taxpayer Experience Office. The new office will focus on “all aspects” of taxpayer interactions with the IRS. Ken Corbin “Whether checking the status of a tax return, meeting with a revenue
I have two young daughters (ages four and seven) who love playing with Legos. I enjoy helping my girls with their building projects, but I decided to go all in and buy an adult Lego project for myself. At over $100, the grown-up Legos are serious business. It’s a high-end,
What many tax preparers have often suspected turns out to be true: The decision to use either DIY software or a paid professional comes down to, basically, cost versus accuracy, according to a recent study. A study recently published in the American Accounting Association’s journal Accounting Horizons finds that what
One accurate, one false; rotten fruit; security alert; and other highlights of recent tax cases. Pittsburgh: Tax collector Jeanne Bowser, 63, of Aliquippa, Pennsylvania, has been sentenced to a year and a day in prison to be followed by three years of supervised release after being convicted of wire fraud
Accounting firms and their clients are growing worried about upcoming changes in the ability to deduct research and development costs and are asking Congress to do something about it. On Wednesday, a group of officials from RSM US LLP sent a letter to leaders in Congress explaining their concerns, co-signed
It’s been a long time coming, but after years of analysis, position papers, discussions, negotiation, proposals and counter-proposals, the international tax arena is moving ahead toward goals set by international agreement years ago. The European Commission recently released its proposal for the Pillar Two Directive, which would require large multinational
The Employer-Provided Child Care Credit can save employers with eligible expenses more money in taxes than using a deduction alone, and it also helps employees by letting them exclude some childcare benefits from their taxable wages, according to a new report. The report, released Thursday by the Government Accountability Office,
The National Association of State Boards of Accountancy and the American Institute of CPAs have released a notice updating candidates on the transition policy that will impact the 2024 Uniform CPA Examination. The 2024 changes are a result of the new CPA Evolution model, which aims to better prepare CPAs
Surrogate scam; truck stop; the nose job; and other highlights of recent tax cases. Las Vegas: Tax preparer Jesus S. Castro, 39, has been sentenced to 46 months in prison for failing to collect and pay over federal employment taxes, causing a tax loss to the IRS of more than