TPAW: Tax Return Preparer Penalties

A tax return preparer is a person who prepares a tax return, or a substantial portion of a tax return for payment. An individual who prepares a tax return for free is not considered a tax return preparer for these … Read More

What You Need to Know to Protect Your Client’s Refund and Appeal Rights

It is your responsibility as a tax professional to ensure you protect your client’s right to claim a tax refund. Tax professionals must be vigilant in tracking deadlines and advising their clients to take timely actions. Time for Filing a … Read More

January 1 deadline approaching for reporting Beneficial Ownership Information

Are you one of one of millions of business owners who are affected by the Corporate Transparency Act (CTA)? If so, you may be required to report Beneficial Ownership Information (BOI) to Treasury’s Financial Crimes Enforcement Network (FinCEN). FinCEN has … Read More

NTA Blog: A Cautionary Tale About Tax Court Filing Dates

November 30, 2023 – Today, I want to remind taxpayers about the importance of filing electronic petitions by the applicable filing date using Eastern Time (ET). In a prior NTA Blog: Have You Recently Filed a Petition With the U.S. … Read More

Success Story: TAS Advocates to Resolve Large Liability

November 20, 2023  – The taxpayers filed an amended return showing that they actually lost money on the real estate sale and were due a refund. However, the IRS hadn’t processed the amended return.      Success Story: TAS Untangles Complex Refund … Read More

Important Tax Information for People Experiencing Homelessness

November 9, 2023 – The Taxpayer Advocate Service asks that you to help spread the message about resources available to the homeless.   Tax benefits and resources for people experiencing homelessness As of January 2020,  End Homelessness.org reports that there were over … Read More

TAS Tax Tip: Resolving an Improper ERC Claim

November 1, 2023 – If you have determined you do not quality for an Employee Retention Credit (ERC) you claimed, the IRS has provided guidance on whether you can withdraw your claim, and if so, how to withdraw your claim.   … Read More

TAS Tax Tip: When Can You Deduct Digital Asset Investment Losses

October 19, 2023 – In the current digital asset climate of plummeting values, frozen accounts, and bankruptcy filings, if you own investments in digital assets, such as virtual currency, cryptocurrency and/or non-fungible tokens (NFTs), you might wonder when it is … Read More

NTA Blog: Nationwide Tax Forum FAQs – Part Two

October 17, 2023 – NTA Blog: Nationwide Tax Forum FAQs – Part Two Top Questions From the NTA Town Hall Series and Resources – Just for You! Tax professionals and our tax industry partners are the backbone of tax administration. … Read More

NTA Blog: Filing and Payment Relief for Taxpayers Affected by the Terroristic Action in the State of Israel

October 13, 2023 – As the National Taxpayer Advocate, I advocate for all taxpayers, regardless of whether they reside in the United States or abroad. Our hearts go out to the impacted people in Israel, the West Bank, and Gaza … Read More