First Thursday Minutes – August 1, 2019

Tax Professional Attendees: Gail Bates Darrel Beadle Velma Bjorgum Carrie Christensen Tracy Danzer Brad Decker Jodi Eckhout Jessica Gatzke Jacen Gondringer Cindy Hockenberry James Hockenberry Carrie Houchins-Witt Todd Koch Rick Kollauf Nathaniel Krautkramer Ken Larsen Lief Mattila Ruth Ann Michnay Sandra Newman Christopher Olson Darian Panasuk Kathy Reiniger Vincent Schamber William Schmidt Barbara Steponkus Dianna […]

IRS NEWS FOR TAX PROFESSIONALS – July 2019

►UPCOMING WEBINARS Check Webinars for Tax Practitioners for upcoming webinars. ►IRS Video Portal Recently posted to the IRS Video Portal: Understanding Tax Relief for Disasters This webinar will give an extensive overview of tax relief for victims of disasters. Topics will include: Identifying types of relief available to taxpayers in a disaster area; Calculating disaster […]

First Thursday Minutes June 6, 2019

Attendees: Tax Professionals: Darrel Beadle, Jacob Borash, Barbara Brown, Carrie Christensen, Robin Clemmensen, Brad Decker, Jodi Eckhout, Maria Gaffney, Jacen Gondringer, Truman Hardy, Steffanie Haring, Marshall Heap, Cindy Hockenberry, James Hockenberry, Stephanie Jerge, Terry Johnson, Bill Kelly Judy Lashinski, Linda Martin, Ruth Ann Michnay, Kaye Nabo, Dan Ogard, Jodee Paape, Darian Panasuk, Joshua Prince, Kathy Reiniger, […]

IRS Communications Alert: June 2019 Withholding Outreach Campaign

This week, the IRS has communication to determine the proper amount withheld from employees and estimating accurate tax for the year. There are various links, social media, webinars, YouTube videos, Fact sheets, resources, and newsletters.  Let me know if you share with your members, employees, and others to assist with accurate withholding.  Information is attached […]

Victory! The Taxpayer First Act of 2019 passes!

It has taken five years, but Congress has finally passed the Taxpayer First Act of 2019, the first comprehensive IRS reform measure to pass in twenty years. NAEA worked closely with tax writers during the entire process and secured a number of provisions that will benefit enrolled agents and their clients. Most importantly, the bill directs […]

IRS takes additional steps to protect taxpayer data on tax transcripts

IRS takes additional steps to protect taxpayer data; plans to end faxing and third-party mailings of certain tax transcripts IR-2019-101 WASHINGTON — As part of its ongoing efforts to protect taxpayers from identity thieves, the Internal Revenue Service today announced it will stop its tax transcript faxing service in June and will amend the Form […]

IRS NEWS FOR TAX PROFESSIONALS

June 2019 ►UPCOMING WEBINARS Check Webinars for Tax Practitioners for upcoming webinars. May 30 Qualified Business Income Deduction (199A) June 6 Foreign Earned Income Exclusion June 13 U.S. Taxation of Employees of Foreign Governments & International Organizations June 19 U.S. Territories – Self Employment Tax June 27 Tax Residency Status ► IRS VIDEO PORTAL The […]

FAQs on the Early Release of the 2020 Form W-4

Why redesign Form W-4? The new design reduces the form’s complexity and increases the transparency and accuracy of the withholding system. While it uses the same underlying information as the old design, it replaces complicated worksheets with more straightforward questions that make accurate withholding easier for employees. What happened to withholding allowances? Allowances are no […]

IRS, Treasury unveil proposed W-4 design for 2020

IR-2019-98 WASHINGTON –Today the Internal Revenue Service issued a draft of the 2020 Form W-4, Employee’s Withholding Allowance Certificate, that will make accurate withholding easier for employees starting next year. The revised form implements changes made following the 2017 Tax Cuts and Jobs Act, which made major revisions affecting taxpayer withholding. The redesigned Form W-4 […]

Qualified Business Income Deduction (199A)

Thursday, May 30, 2019 2 p.m. Eastern Time; 1 p.m. Central Time; 12 p.m. Mountain Time; 11 a.m. Arizona; 11 a.m. Pacific Time; 10 a.m. Alaska; 8 a.m. Hawaii This webinar highlights the basics of the qualified business income deduction, updated to incorporate guidance issued in January 2019. This free 100-minute webinar for Tax Professionals […]