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05/23/2018-The Internal Revenue Service today released a new five-year Strategic Plan outlining goals to improve taxpayer service and tax administration.
The Fiscal Year 2018-2022 IRS Strategic Plan will serve as a roadmap to help guide the agency's programs and operations. The plan will also help meet the changing needs of taxpayers and members of the tax…
The U.S. Department of the Treasury and the Internal Revenue Service issued a notice today stating that proposed regulations will be issued addressing the deductibility of state and local tax payments for federal income tax purposes. Notice 2018-54 also informs taxpayers that federal law controls the characterization of the payments for federal income tax purposes regardless of the characterization of the payments under state…
The IRS is beginning a 10-part series of news releases over 10 weeks called "Protect Your Clients; Protect Yourself: Tax Security 101," with each new tip released the following Tuesday. To mark the start of this awareness campaign, the IRS revised Publication 4557, Safeguarding Taxpayer Data, to better reflect the current threats to tax professionals. The guide outlines basic steps tax professionals should take, how to take them and provides details on how to comply with requirements for a data security plan. The IRS also created a new product, Publication 5293, Data Security Resource Guide for Tax Professionals, which highlights a compilation of IRS.gov resources for tax preparers. Click…