BEST

IRS releases new FAQs on Child Tax Credit

By Michael Cohn       2 min read

The service issued a set of frequently asked questions Monday for filing season, with new material added on the expanded Child Tax Credit. Read story →

IRS warns Child Tax Credit portal may have wrong amounts

By Michael Cohn       6 min read

The dervice is urging people to use the information in their online taxpayer accounts for the most up-to-date figures on the amount of the advance CTC. Read story →

IRS managers defend automated penalty notices

By Michael Cohn       7 min read

A group representing managers at the service is pushing back against demands to stop sending automated tax notices to taxpayers. Read story →

New bill would change tax rules for cryptocurrency purchases

By Michael Cohn       3 min read

A group of lawmakers teamed up Thursday to introduce bipartisan legislation that aims to create a workable structure for taxing purchases made with cryptocurrency. Read story →

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IRS update: A focus on communications

By Roger Russell       3 min read

The service is working on text bots and chat bots to improve access, and managing issues around the ACTC and EIPs.  Read story →

IRS to add 1,200 employees as agency confronts delays, backlog

By Laura Davison       2 min read

The additional staff are to help the agency navigate what will likely be one of the most challenging tax filing seasons in years, according to a person familiar with the plans. Read story →

Intuit CEO warns of tax bill shock for Bitcoin, NFT traders

By Joe Williams       2 min read

Sasan Goodarzi warned that Americans who invested in speculative assets like Bitcoin or nonfungible token could be dumbfounded at this year’s tax bill. Read story →

Liberty becomes latest prep chain to offer banking

By Jeff Stimpson       1 min read

The new DeepBlue Debit offering is aimed at customers who are underbanked. Read story →

Art of Accounting: 153 Ed Mendlowitz checklists free

By Edward Mendlowitz       2 min read

There are 128 tax season, practice management and personal tips checklists, and a Getting Your Affairs in Order Tool Kit with 25 added checklists.  Read story →

Demystifying sales tax nexus

By Nellie Akalp       4 min read

Help clients determine their sales tax obligations in the jurisdictions where they sell taxable products and services. Read story →

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