Whether you're a sole practitioner or run a large tax firm, the AICPA's "Tax Practitioner's Marketing Toolkit" is filled with client letters and surveys, presentations, brochures, and more! Show your clients that you're a tax pro - download your resources today. (Note: You must be an AICPA member to download the toolkit.
 
Scam Alert: IRS Urges Taxpayers to Watch Out for Erroneous Refunds; Beware of Fake Calls to Return Money to a Collection Agency
The Internal Revenue Service today warned taxpayers of a quickly growing scam involving erroneous tax refunds being deposited into their bank accounts. The IRS also offered a step-by-step explanation for how to return the funds and avoid being...
Bipartisan Budget Act contains several tax provisions
Early Friday morning, the Bipartisan Budget Act of 2018, H.R.1892, passed the Senate by a vote of 71–28 and the House of Representatives, 240–186. President Donald Trump signed the bill later in the day.
IRS proposes to remove 298 regulations
The IRS proposed to remove 298 regulations that it says have no current or future application to the Internal Revenue Code and therefore no longer provide useful guidance. REG-132197-17, proposing to remove these rules, was issued Tuesday in...
IRS: Homeowners With Failing Foundations Can Deduct Repairs Until 2020
The Internal Revenue Service announced Wednesday afternoon that homeowners with failing concrete foundations have until 2021 to deduct any repairs done to their foundations from their federal taxes.
Sending out client engagement letters? Consider including language relating to electronic data and digital currencies
Do you store data in the cloud and/or e-file your clients’ returns? Do your clients deal with virtual currencies? Here’s some language to consider including in your engagement letters courtesy of CTCPA member John F. Raspante of CPA...
Executive On State Panel: Ending 'Death Tax' Could Boost Economy
A state panel advising the General Assembly on how to reverse Connecticut’s economic decline is considering a revamp of state taxes, including ending the estate tax, a business executive said Wednesday. James Loree, the chief executive officer...
CT, NY and NJ to Sue Feds Over GOP's Tax Overhaul Plan
Connecticut, New Jersey and New York are planning to sue the federal government over the Republican-led federal tax overhaul. Democratic governors Andrew Cuomo, of New York, Dannel Malloy, of Connecticut and Phil Murphy, of New Jersey,...
Three things more important than tax reform in 2018
Your phone’s already ringing. Clients want to know how the new tax law will impact them. This is understandable, but don’t worry if you aren’t ready to answer their questions just yet It’s a big law and the IRS has yet to provide even the most...
IRS: Important Update About Your e-Services Account
All e-Services account holders must register through a new identity proofing process before they can access their accounts. We are adding more personnel to staff the e-Help Desk, but the registration process can be much faster if you can...
FASB Q&As discuss financial reporting implications of tax law
FASB addressed financial reporting issues related to P.L. 115-97, the Tax Cuts and Jobs Act, in four staff Q&As posted to its website Monday.

More >

  Connecticut CPA magazine feature
The IRS Disqualified Employment Tax Levy:
Just When the Client Thought It Was Safe to Owe Money Again …

By Lauren M. McNair, Esq. and Eric L. Green, Esq., Green & Sklarz LLC

Your client calls frantic one morning just as you are sitting down to your desk. “Joe, what’s up?” you ask genially as you reach for your coffee.

“The IRS just cleaned out my bank account!” yells Joe.

“What do you mean? We worked out a payment plan a year ago at our Collection Due Process hearing with the settlement officer. I thought you paid that off.”

Read more>>>