Taxes

As previously scheduled by the IRS, the voluntary disclosure program has come to an end. Through its various compliance efforts, the IRS has addressed over $1 billion in erroneous ERC claims.

Latinos—as well as individuals of any background— may fall victim to unqualified service providers who prey on their community.

Lawyers for President Biden's son asked a federal judge in Los Angeles on March 27 to throw out nine tax-related charges.

The agency further postponed until Aug. 7 various filing and payment deadlines for those affected by the Aug. 8, 2023, wildfires.

Note that a QDRO may be used for qualified plans, like 401(k) or pension plans, but this option isn’t available for IRAs. IRAs are subject to other rules.

More than half (53%) of respondents said one of their most significant challenges is that tax rules and rates are complex and subject to change.

As of the week ending March 15, the IRS had issued just over 49 million tax refunds, close to 9% lower than at that point last year.

As taxpayers navigate the challenges of tax season, the AICPA wants individual filers to be aware of what’s new for this filing season.