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June 18, 2024 – Electric vehicles, typically referred to as “EVs,” are all the rage these days, not just because of environmental friendliness but also because of the significant financial incentives available to buyers. The Inflation Reduction Act of 2022 amended IRC § 30D for new clean vehicles and added IRC § 25E for previously owned…

From smartphones to social media algorithms and virtual assistants, artificial intelligence (AI) has permeated nearly every aspect of our lives, even taxes. But advice you get from an AI chatbot may not be as good as you think it is. In reality, AI is a rapidly evolving new technology, and may not be able to…

June 6, 2024 – No one asks to become a victim of identity theft. When taxpayers deal with these challenges, the last thing they need is an unreasonable delay in receiving their tax refunds. Yet sadly, hundreds of thousands of taxpayers each year discover they are victims of tax-related identity theft when they electronically submit…

May 21. 2024 – International information return penalties are often thought of as primarily affecting rich people or multinational corporations with significant overseas assets. This is not true. Taxpayers – many of whom are lower- and middle-income individuals, small and midsize business owners, and immigrants – face significant and potentially life-changing penalties, even when they…

Join the Taxpayer Advocate Service at the 2024 IRS Nationwide Tax Forum Join hundreds of tax professionals at the 2024 IRS Nationwide Tax Forum. It is a great place to earn Continuing Professional Education Credits, network with other tax experts, learn about tax law changes, the latest news from the IRS, and resolve your difficult…

Disasters can happen at any time, so it’s important to be prepared. Good recordkeeping can help you get back on your feet quickly when disaster strikes.   One of the best things you can do to keep your records safe is to take advantage of paperless recordkeeping options in addition to your paper records. This way,…

On March 11, 2024, the Treasury Department released its fiscal year (FY) 2025 Green Book of revenue proposals, which includes a proposal to essentially eliminate almost all remaining requirements to obtain written supervisory approval for penalties. Rather than focus on training IRS employees and enforcing the law enacted by Congress to protect taxpayer rights, Treasury…

Did you know that if you’re an eligible educator, you can deduct up to $300 of unreimbursed business expenses? And if you and your spouse are both teachers and file jointly, that number goes up to $600.   To be considered an eligible educator you must:   Work as a teacher, counselor, principal, or aid for students…

Volunteers play a vital role in our tax communities, especially for the Low-Income Taxpayer Clinic (LITC) Program and the Taxpayer Advocacy Panel (TAP). Low Income Taxpayer Clinics This week, we celebrate National Volunteer Week to recognize and thank those who give their time to serve their communities, assist taxpayers in need, and provide support for…

Direct Deposit Refunds and Refund Offsets Your tax return may show you’re due a refund from the IRS. You can generally get your refund faster by filing electronically and requesting direct deposit. See our TAS Tax Tip: Tax return filing is as easy as 1-2-3 for more information, including direct deposit options if you don’t…