News & Helpful Information
Individual Retirement Accounts Can Be Important Tools In Retirement Planning
It is never too early to begin planning for retirement. Individual retirement accounts provide tax incentives for people to make investments that can provide financial security when they retire.
Builders Of Qualified New Energy Efficient Homes May Qualify For An Expanded Tax Credit Under Section 45L
The Internal Revenue Service issued Notice 2023-65 today which provides guidance on the new energy efficient home credit as amended by the Inflation Reduction Act (IRA).
Builders of new energy efficient homes may qualify for an expanded tax credit
Eligible contractors who build or substantially reconstruct qualified new energy efficient homes may be eligible for a tax credit up to $5,000 per home.
Avoiding identity theft scammers posing as the IRS
Imitation may be the sincerest form of flattery, but when scammers pose as the IRS it means trouble for taxpayers.
Tax Credits for New Electric Vehicles Purchased in 2022 or Before
See post to view videos from the IRS.
To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims; concerns from tax pros, aggressive marketing to ineligible applicants highlights unacceptable risk to businesses and the tax system.
The moratorium begins immediately and will run through at least Dec. 3, 2023.
Educator Expense Deduction Helps Teachers Cut Classroom Costs
Teachers often buy classroom supplies with their own money. The Educator Expense Deduction helps them get some of that money back.
Reminder to employers and employees: Educational assistance programs can be used to help pay workers’ student loans; free IRS webinar will offer details
As part of a wider effort to promote this benefit the IRS will hold a free webinar on Sept. 14 to help interested taxpayers and tax professionals better understand this special provision.
Tax Pros: Stay Vigilant Against Phishing Emails And Cloud-Based Attacks
The IRS and its Security Summit partners continue to see a steady stream of attacks aimed at the nation’s tax professionals to steal sensitive tax and financial information from their clients.
Everyone Has The Right to Finality When Working With The IRS
By law, all taxpayers have the right to finality of tax matters. For example, taxpayers have the right to know when the IRS has finished an audit. This is one of ten basic rights — known collectively as the Taxpayer Bill of Rights.