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IRS NEWS FOR TAX PROFESSIONALS April 2019 ►UPCOMING WEBINARS Filing is the thing to do, even if you have a balance due Date: Thursday April 4, 2019 Free, 60 minutes, 1 continuing education credit Register here: https://www.webcaster4.com/Webcast/Page/1148/29795 Check Webinars for Tax Practitioners for upcoming webinars. ►HOT OFF THE PRESS IRS expands penalty waiver for those […]

IRS Large Business and International to hire hundreds in March 2019

In service of the IRS’ strategic goal to cultivate a well-equipped, diverse, flexible and engaged workforce, LB&I is seeking qualified candidates for a hiring wave in March 2019. Nearly 300 positions will be open from March 11 through March 22. These openings include positions for the following job titles: revenue agent, computer audit specialist, tax […]

The Dirty Dozen represents the worst of the worst tax scams

Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire someone to help with their taxes. Don’t fall prey. For a detailed description of each scam, please refer to the list below: IRS […]

IRS waives estimated tax penalty for farmers, fishermen

02 | 24 | 19 IRS waives estimated tax penalty for farmers, fishermen who file returns and pay tax by April 15 IR-2019-28 WASHINGTON — The Internal Revenue Service will waive the estimated tax penalty for any qualifying farmer or fisherman who files his or her 2018 federal income tax return and pays any tax […]

Relief from Penalty for Underpayment of Estimates by Individual Farmer

Part III – Administrative, Procedural, and Miscellaneous Relief from Addition to Tax for Underpayment of Estimated Income Tax by Individual Farmers and Fishermen Notice 2019-17 SECTION 1. PURPOSE This notice provides a waiver of the addition to tax under section 6654 of the Internal Revenue Code (Code) for underpayment of estimated income tax by qualifying […]

IRS NEWS FOR TAX PROFESSIONALS – March 2019

IRS NEWS FOR TAX PROFESSIONALS March 2019 ►UPCOMING WEB CONFERENCES Check Webinars for Tax Practitioners for upcoming webinars. (None scheduled at this time.) ►Recently added to the IRS Video Portal https://www.irsvideos.gov/ Tax Reform Due Diligence Requirements This webinar gives tax professionals updates and guidance on how the Tax Cuts and Jobs Act (TCJA) provisions will […]

First Thursday Minutes February 7, 2019

Attendees: Tax Professionals: Theresa Abel, Laura Dawson, Jessica Gatzke, Jacen Gondringer, Cindy Hockenberry, James Hockenberry, Carrie Houchins-Witt, Terry Johnson, Tricia Knight, Todd Koch, Rick Kollauf, Ken Larsen, Ruth Ann Michnay, Shania Murphy, Jodee Paape, Darian Panasuk, Kendra Privratsky, Jo Ann Schoen, Portia Vogt, Will Wallace, Doug Wendlandt Stakeholder Liaisons: Karen Brehmer, Kathleen Fox, Alan Gregerson, Mike Mudroncik Stakeholder Liaison Managers: Kristen Hoiby, Area 6 manager; Shane Ferguson, Director Departments of Revenue: Lorie Bowker – ND; Vicki Gibbons – WI; Mark Krause […]

Tax reform law makes changes to employee achievement award rules

Tax Reform Tax Tip 2018-190 December 10, 2018 The IRS reminds employers that last year’s Tax Cuts and Jobs Act made changes to several programs that can affect an employer’s bottom line and its employees’ deductions. This includes employee achievement awards. Here are some facts about these changes: Under previous law: Employers could deduct the […]

Tax reform brings changes to qualified moving expenses

Tax Tip 2018-192 December 12, 2018 For businesses that have employees, there are changes to fringe benefits that can affect a business’s bottom line and their employee’s tax liabilities. One of these changes is to qualified moving expenses. Under previous law, payment or reimbursement of an employee’s qualified moving expenses were not subject to income […]

New Opportunity Zone tax incentive benefits investors

Tax Reform Tax Tip 2018-191 December 11, 2018 Qualified Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act. These zones are designed to spur economic development and job creation in distressed communities throughout the country and U.S. possessions by providing tax benefits to investors who invest eligible capital into these communities. Taxpayers […]