ThomsonReuters

APRIL 25, 2024

As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. Let’s take a look at some commonly asked questions on retirement income taxes and how your firm can best advise clients as they approach their retirement years.

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CPA Practice

FEBRUARY 29, 2024

By Erin Schilling, Bloomberg News (TNS) The IRS said it expects to get hundreds of millions of dollars from high-income people who haven’t filed federal income tax returns under a new initiative in the agency’s fight to get the money it’s owed from wealthy taxpayers.

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KROST

SEPTEMBER 14, 2021

New applicants or loans less than $500,000: Federal Income Taxes. Submit a loan modification request to receive up to $2 million. Receive a decision after October 8, 2021, or within 6 weeks of application submission. Required Documents. IRS Form 4506-T. Loan modification requests over $500,000. ODA Form P-022 – Standard Resolution.

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Xero

JANUARY 30, 2024

Property investment accounting, or landlord accounting, manages your property portfolio assisting with tax compliance and return on investment. property exchanged between spouses) Land tax: An annual tax paid to state/territory governments by landowners (except in the Northern Territory).

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CPA Practice

JANUARY 10, 2024

The report says the IRS virtually eliminated its backlog of unprocessed original individual income tax returns (Forms 1040) and substantially improved telephone service. Delays in processing amended tax returns and taxpayer correspondence. million users accessed individual online accounts. That’s just over 10%. “To

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CPA Practice

DECEMBER 13, 2023

During his career, Corbin has acquired an extensive background in IRS campus operations from 10 years in submission processing, three in accounts management, six in compliance services, and three in taxpayer advocate services, as well as numerous executive assignments across the agency. Corbin began his IRS career in 1986.

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CPA Practice

JUNE 21, 2023

Despite these improvements, the report says the IRS is still behind in processing amended tax returns and taxpayer correspondence. Typically, employees in the agency’s accounts management function perform two roles: they answer telephone calls and they process taxpayer correspondence, amended returns, and other cases.

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