TAXATION




New Filing Season Scam Targets Tax Preparers
 

New Filing Season Scam Targets Tax Preparers

Posted: February 2, 2018
Only a few days into the filing season, the IRS has already identified a new scam that began with cybercriminals stealing data from several tax practitioners’ computers and filing fraudulent tax returns.

IRS Issues More Guidance on Withholding Rules for New Tax Law
 

IRS Issues More Guidance on Withholding Rules for New Tax Law

Posted: January 30, 2018
A new IRS notices extends the use of the existing 2017 Form W-4; temporarily suspends the rule that employees must notify their employers of changes in status that affect their withholding within 10 days; provides the new rate of optional withholding on supplemental wages; and more.

The Section 179 Deduction: It Has Come a Long Way
 

The Section 179 Deduction: It Has Come a Long Way

Posted: January 30, 2018
Internal Revenue Code Section 179, Election to Expense Certain Depreciable Business Assets, allows taxpayers other than estates and trusts to expense in full various fixed asset additions used in their trade or business in the year of acquisition with certain limitations. Find out what's necessary to claim a Section 179 expense deduction.



Understanding Tax Return Identity Theft
 

Understanding Tax Return Identity Theft

Posted: January 19, 2018
What exactly is tax identity theft and how can you tell if your client has fallen prey to it? Taxpayers may be made aware of tax return identity theft upon attempting to file their own return or may be alerted when the IRS issues a notice to the taxpayer that it suspects that tax return identity theft has occurred.


The Federal Taxation Interest Group provides an open forum to discuss and educate members on Federal taxation issues, both domestic and international. 

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