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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Taxpayer Advocate Service Feed

It’s That Time of the Year Again: Remember to Renew Your Preparer Tax Identification Number

Wed, Nov 13, 2024

All Paid Return Preparers Must Have a Preparer Tax Identification Number A Preparer Tax Identification Number (PTIN) generally is required […] The post It’s That Time of the Year Again: Remember to Renew Your Preparer Tax Identification Number appeared first on Taxpayer Advocate Service. ...

IRS Proposed Regulations on Third Party Contacts Unfairly Erode Taxpayer Notice Requirements

Thu, Nov 07, 2024

Proposed regulations permitting the IRS to shorten third-party notice requirements in certain circumstances erode important taxpayer protections and could result […] The post IRS Proposed Regulations on Third Party Contacts Unfairly Erode Taxpayer Notice Requirements appeared first on Taxpayer Advocate Service. ...

Ahead of filing season, TAS introduces a new design for the Taxpayer Roadmap pages

Fri, Nov 01, 2024

Newly Designed Taxpayer Roadmap Pages Ahead of Filing Season Ahead of filing season, TAS introduces a new design for some Taxpayer Roadmap […] The post Ahead of filing season, TAS introduces a new design for the Taxpayer Roadmap pages appeared first on Taxpayer Advocate Service. ...

A Grave Error: Don’t Allow “Ghost Preparers” to Turn Your Taxes Into a Horror Story

Wed, Oct 30, 2024

Preparing your taxes doesn’t have to be scary, but this spooky season I would like to share an example of […] The post A Grave Error: Don’t Allow “Ghost Preparers” to Turn Your Taxes Into a Horror Story appeared first on Taxpayer Advocate Service. ...

IRS Hears Concerns from TAS and Practitioners, Makes Favorable Changes to Foreign Gifts and Inheritance Filing Penalties

Thu, Oct 24, 2024

Spoiler Alert:  The IRS has ended its practice of automatically assessing penalties at the time of filing for late-filed Forms […] The post IRS Hears Concerns from TAS and Practitioners, Makes Favorable Changes to Foreign Gifts and Inheritance Filing Penalties appeared first on Taxpayer Advocate Service. ...

Protecting yourself and your clients from evolving tax scams

Thu, Oct 24, 2024

Protecting yourself and your clients from evolving tax scams Tax professionals need to be on the lookout for a variety […] The post Protecting yourself and your clients from evolving tax scams appeared first on Taxpayer Advocate Service. ...

TPAW: Tax Return Preparer Penalties

Wed, Oct 23, 2024

A tax return preparer is a person who prepares a tax return, or a substantial portion of a tax return […] The post TPAW: Tax Return Preparer Penalties appeared first on Taxpayer Advocate Service. ...

Giving Back: Recognizing the 2024 National Celebration of Pro Bono

Tue, Oct 22, 2024

The American Bar Association will highlight the importance of pro bono services with its annual National Celebration of Pro Bono during […] The post Giving Back: Recognizing the 2024 National Celebration of Pro Bono appeared first on Taxpayer Advocate Service. ...

What You Need to Know to Protect Your Client’s Refund and Appeal Rights

Mon, Oct 21, 2024

It is your responsibility as a tax professional to ensure you protect your client’s right to claim a tax refund. […] The post What You Need to Know to Protect Your Client’s Refund and Appeal Rights appeared first on Taxpayer Advocate Service. ...

TAS Celebrates Tax Professional Awareness Week

Tue, Oct 15, 2024

From October 20 – 26, TAS is joining the IRS in celebrating Tax Professional Awareness Week (TPAW). TPAW is a week dedicated […] The post TAS Celebrates Tax Professional Awareness Week appeared first on Taxpayer Advocate Service. ...