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Justice Department Continues Efforts to Stop Fraudulent Tax Preparers

CPA Practice

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

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Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch

Going Concern

A federal grand jury in Newark, New Jersey, returned an indictment Wednesday charging tax preparer Leon Haynes of Teaneck, New Jersey with fraudulently seeking more than $150 million from the IRS by filing more than 1,600 false tax returns for himself and his clients that claimed COVID-19-related employment tax credits.

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IRS Starts Accepting Returns and Extends Hours at Tax Assistance Centers

CPA Practice

The Internal Revenue Service opened the 2024 tax season on January 29, 2024, accepting and processing federal individual tax returns, and announcing that it expects more than 146 million individual tax returns for 2023 to be filed this filing season. Another option is the Direct File pilot program.

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Tax Season to Start January 29, 2024

CPA Practice

The IRS has announced that it will start accepting and processing tax returns on Monday, Jan. million individual tax returns to be filed by the April 15, 2024, tax deadline. Although the IRS will not officially begin accepting and processing tax returns until Jan. The agency expects more than 128.7

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H&R Block ‘Data Wiping’ and Upgrade Policies Harm Taxpayers, FTC Says

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The Federal Trade Commission (FTC) has filed a complaint against tax preparation company H&R Block, accusing the tax services provider of unfair and deceptive business practices.

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Friday Footnotes: Working Late; The Year of the ESOP?; It’s Not Layoffs, It’s “Repositioning” | 1.5.24

Going Concern

Big 4 Big Four Reshape Consulting Workforce, Strategy With Rare Layoffs [ Bloomberg Tax ] The Big Four accounting firms have leaned into their tech advisory work and data analytics services—areas ripe for revenue growth—as interest rates and the artificial intelligence boom reshaped demand for consulting services.

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How To Fill Out Form 1065

xendoo

With all the responsibilities that come with running a business, it can be difficult to stay on top of the latest tax requirements, regulations, and deadlines. Form 1065 is a complex tax form with many requirements. March 15th is the deadline for calendar year partnerships in 2022 and 2023. To recap, all U.S.