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Debunking myths about federal tax refunds
Debunking myths about federal tax refunds

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.

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Five ways to fix the IRS, starting with a halt to most audits
Five ways to fix the IRS, starting with a halt to most audits

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.

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PMA Responds to Congressional Letter Urging IRS Action During 2022 Tax Filing Season
PMA Responds to Congressional Letter Urging IRS Action During 2022 Tax Filing Season

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.

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IRS begins 2022 tax-filing season with backlog ‘crisis’ that could delay refunds
IRS begins 2022 tax-filing season with backlog ‘crisis’ that could delay refunds

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.

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2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline
2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline

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.

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Relief Procedures for Certain Former Citizens
Relief Procedures for Certain Former Citizens

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

PAYING U.S. TAXES IN CANADA – A Complimentary Seminar

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…

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Training: GILTI Take 2 – What We Know Now
Training: GILTI Take 2 – What We Know Now

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.

Training: International Penalties and Abatement Strategies

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…

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International Penalties and Abatement Strategies
International Penalties and Abatement Strategies

International Penalties and Abatement Strategies

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:

  • Describe the penalty structures for FBARs and other international information returns.
  • Explain “reasonable cause” in the context of FBAR and international information return penalties and how to effectively demonstrate reasonable cause and advocate for your client.
  • Understand the different ways to contest FBAR and international information return penalties both pre-assessment and post-assessment.

Webinar Cost:  $149.00

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