by Jawad Khan | Jul 13, 2024 | Uncategorized
Week 1 of Protect Your Clients; Protect Yourself Series Focuses on Emerging and Ongoing Threats The Internal Revenue Service (IRS) and the Security Summit have issued a renewed warning to tax professionals to remain vigilant against a variety of new and evolving...
by Jawad Khan | Jul 13, 2024 | Uncategorized
Missed the April filing deadline for your 2023 federal income tax return? The IRS has several options to help you get back on track. Here’s what you need to know to minimize penalties and interest charges and get your taxes squared away. Payment Programs and Penalty...
by Jawad Khan | May 20, 2024 | Uncategorized
In a significant move for environmental justice and renewable energy initiatives, the Department of the Treasury and the Internal Revenue Service (IRS) have released Announcement 2024-25, detailing the carryover amounts for the 2024 program year under the Low-Income...
by Jawad Khan | May 20, 2024 | Uncategorized
In light of recent tax scams and misleading social media advice, the Internal Revenue Service (IRS) has issued a warning to taxpayers about filing inflated refund claims. These fraudulent claims primarily involve the Fuel Tax Credit, the Sick and Family Leave Credit,...
by Jawad Khan | Apr 3, 2024 | Uncategorized
Digital assets have become increasingly popular in recent years, with virtual currencies, cryptocurrencies, stable coins, and non-fungible tokens gaining widespread attention. As a taxpayer, it’s important to understand the reporting and tax requirements...
by Jawad Khan | Apr 3, 2024 | Uncategorized
In recent years, the Internal Revenue Service (IRS) has issued warnings about aggressive promoters who deceive taxpayers into making questionable claims for the Employee Retention Credit (ERC). These unscrupulous individuals or organizations put businesses at risk of...
by Jawad Khan | Mar 12, 2024 | Uncategorized
As the time for paying taxes approaches, citizens are urged to be mindful of their responsibility of accurately accounting for various sources of income on their tax returns. Specifically, in order to be compliant with tax regulations, taxpayers should report digital...
by Jawad Khan | Mar 12, 2024 | Uncategorized
The IRS offers no-charge tax preparation services through Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE). These programs are designed to help eligible individuals prepare their taxes at no cost. VITA Program: For more than half a...
by Jawad Khan | Feb 14, 2024 | Uncategorized
If you’ve recently filed your tax return and are eagerly anticipating a refund, it’s natural to wonder when you’ll receive it. This article provides an estimated tax refund schedule and offers key details about the refund process. Qualifying for a...
by Jawad Khan | Feb 14, 2024 | Uncategorized
Attention tax professionals: The IRS, along with its Security Summit partners, wants to alert you about a scam email that specifically targets tax professionals like you. This fraudulent email pretends to be from various software companies and aims to steal your...