Taxpayers who owe more federal taxes than they can pay may be able to seek an Offer in Compromise (OIC) with the IRS. An OIC allows a taxpayer to settle a debt for less...

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The IRS recently halted the processing of Employee Retention Credit (ERC) claims through at least the end of 2023 as a result of numerous fraudulent claims. If you filed an Employee Retention Credit (ERC) claim...

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The Social Security Administration (SSA) has announced that for 2024 the maximum earnings subject to Social Security tax will increase $8,400, from $160,200 to $168,600. The $168,600 wage base for 2024 is slightly greater...

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If the IRS wants to talk to you about a specific tax matter, you can authorize a third-party to handle it on your behalf. But whether it’s an unpaid friend or relative or a...

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New IRS guidance is available for a tax credit for eligible home contractors of up to $5,000 per home. Eligible contractors must construct or substantially reconstruct and rehab qualified new energy efficient homes. The...

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In recent months, the IRS has repeatedly indicated that it intends to focus audit activity on affluent taxpayers with more than $400,000 in annual income, large partnerships and big corporations. Taxpayers in these groups...

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Compliance that’s “holistic, smarter, broader and stronger” is the hoped-for result of the IRS Tax Exempt and Government Entities (TE/GE) unit’s plan for Fiscal Year (FY) 2024. In its recently released FY 2024 Program...

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Taxpayers that owe more taxes than they can currently pay can request a Collection Due Process (CDP) hearing, but cooperation with the IRS is key. One taxpayer timely filed a return but didn’t include...

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The IRS has just announced special per diem rates for ordinary and necessary business travel expenses in fiscal year 2023-24. The rate for incidental expenses when traveling in or outside the continental United States...

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Did you request a six-month extension to file your 2022 income tax return? The IRS is reminding those taxpayers who requested an extension that the Oct. 16 deadline to file their Forms 1040 is...

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