IRS Tax Tip 2022-49, March 30, 2022
Once taxpayers file their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers.
IRS Tax Tip 2022-49, March 30, 2022
Once taxpayers file their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers.
If there is one thing we’ve learned over the past two years, it is that the Internal Revenue Service is vital to the economic health of our nation. In the midst of a pandemic it has delivered $800 billion in economic impact payments, or stimulus checks, almost $93 billion in advance child tax credits, and additional billions in employee retention and sick and family leave credits.
PMA echoes the lawmakers’ enthusiasm for providing high quality and effective taxpayer services. We are also equally concerned regarding the current state of the IRS. However, there is an apparent disconnect between Congressional demands and the IRS’s practical capacity to address them. This disconnect exacerbates inefficiencies and results in negative taxpayer experiences, as well as excessive burden on our members and their staff.
The Internal Revenue Service will kick off the 2022 tax-filing season in a state of crisis as it grapples with a backlog of millions of unprocessed returns from one of the “most challenging years” for the agency.
IR-2022-08, January 10, 2022
WASHINGTON — The Internal Revenue Service announced that the nation’s tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.
This free 100-minute webinar is open to ALL
This webinar will cover the following:
– Provide background on United States citizenship by birth and relinquishing citizenship
– Discuss tax implications of relinquishing citizenship
– Describe the purpose and scope of the new Relief Procedures for Certain Former Citizens (“relief procedures”)
– Explain specific filing requirements under the relief procedures and discuss common issues taxpayers may encounter
– Discuss how submissions under relief procedures will be handled by the Service
– Plus a live Q & A
Are you caught on the borderline? Are you a U.S. Citizen, Green Card holder, born on U.S. soil or born abroad to a U.S. parent and live in Canada? Do…
This course delves into the global intangible low tax income (GILTI) regime that takes effect for many taxpayers in tax year 2018 and how it has evolved over the last year. We will provide an overview of the final regulations and their intent, define the new terms of art in the regulations, calculate GILTI, demonstrate how the regulations affect entities and individuals differently, and outline strategies to mitigate potential tax consequences.
Instructor: Mary Beth Lougen, EA, USTCP IRS Program Number: NMVBP-T-00114-18-O The IRS is focusing their resources on international tax compliance; as such, practitioners are seeing increasing numbers of examinations in…
Date: December 4, 2018
Time: 2pm – 4pm EDT
Instructor: Mary Beth Lougen, EA, USTCP
IRS Program Number: NMVBP-T-00114-18-O
The IRS is focusing their resources on international tax compliance; as such, practitioners are seeing increasing numbers of examinations in this area along with FBAR and international information return penalties. We will discuss in detail methods to defeat these penalties, such as reasonable cause, as well as how to effectively represent clients in either an international non-compliance examination or penalty abatement engagement. In addition, we will look at case studies to bring a real-life perspective to these issues.
Learning Objectives: