Newsletters

Tax Alerts
Tax Briefing(s)

Proposed regulations spell out the critical mineral and battery component requirements of the new clean vehicle credit, while also clarifying several other components of the credit. The proposed regs, along with modified Frequently Asked Questions on the IRS website, largely adopt previous IRS guidance, including Rev. Proc. 2022-42, Notice 2023-1, and Notice 2023-16


The IRS is obsoleting Rev. Rul. 58-74, 1958-1 CB 148, as of July 31, 2023. Rev. Rul. 58-74 generally allows a taxpayer that adopted the expense method for research and experimental (R&Eexpenses to use a refund claim or amend a return to deduct R&E expenses that the taxpayer failed to deduct when they were paid or accrued.


The IRS has issued safe harbor deed language that may be used to amend eligible easement deeds intended to qualify for conservation contribution deductions under Code Sec. 170(f)(3)(B)(iii), to comply with changes to the law created by section 605(d) of the SECURE 2.0 Act of 2022.


The IRS closed out the 2023 Dirty Dozen campaign with a warning for taxpayers to beware of promoters peddling tax avoidance schemes. These schemes are primarily targeted at high income individuals seeking to reduce or eliminate their tax obligation. The IRS advice taxpayers to seek services from an independent, trusted tax professional and to avoid promotres focused on aggressively marketing and pushing questionable transactions.


As part of the annual Dirty Dozen tax scams effort, the IRS and the Security Summit partners have urged taxpayers to be on the lookout for spearphishing emails. Through these emails, scammers try to steal client data, tax software preparation credentials and tax preparer identities with the goal of getting fraudulent tax refunds. These requests can range from an email that looks like it’s from a potential new client to a request targeting payroll and human resource departments asking for sensitive Form W-2 information.


The American Institute of CPAs is recommending the Internal Revenue Service place a greater emphasis on service as the agency works on its strategic plan for the $80 billion in additional appropriations provided to the IRS in the Inflation Reduction Act.


National Taxpayer Advocate Erin Collins offered both praise and criticism of the Internal Revenue Service’s Strategic Operating Plan outlining how it will spend the additional $80 billion allocated to the agency as part of the Inflation Reduction Act of 2022.


On April 4, 2023, the Internal Revenue Service released the Strategic Operating Plan, which details the agency’s plans to use Inflation Reduction Act resources to transform the administration of the tax system and services provided to taxpayers.


The American Institute of CPAs is calling on the Internal Revenue Service to issue guidance related to how digital asset losses affect tax obligations.


2021 Individual Tax Return Preparation Engagement Letter


  • TAX STRATEGIES FOR INDIVIDUALS AND FAMILIES
  • INVESTMENT PLANNING
  • TAX PLANNING FOR BUSINESS
  • PLANNING FOR THE FUTURE

  • TAX STRATEGIES FOR INDIVIDUALS AND FAMILIES
  • INVESTMENT PLANNING
  • TAX PLANNING FOR BUSINESS
  • PLANNING FOR THE FUTURE
  • THE CURRENT 2020 TAX CLIMATE
  • NATIVE MINIMUM TAX (AMT)
  • TAX CREDITS & DEDUCTIONS
  • EDUCATION STRATEGIES
  • ESTIMATED TAX PAYMENTS
  • TAXES FOR DOMESTIC HELP
  • CHILDREN’S TAXES
  • CHANGES TO EXEMPTIONS
  • SUPPORTING YOUR PARENTS
  • TAX STRATEGIES FOR HOMEOWNERS
  • IRAs FOR KIDS
  • TAXES & DIVORCE
  • MANAGING RECEIPT OF INCOME
  • YEAR END TAX PLANNING TIPS
  • CAPITAL GAINS & LOSSES
  • APPRECIATING INVESTMENTS
  • OTHER CONSIDERATIONs
  • PASSIVE ACTIVITIES
  • MUTUAL FUNDS
  • BONDS
  • REAL ESTATE
  • INVESTING IN SMALL BUSINESSES
  • THE CARES ACT: $2 TRILLION STIMULUS PACKAGE INCLUDES SMALL BUSINESS LOAN RELIEF
  • INVESTING IN SMALL BUSINESSES
  • EMPLOYER-PROVIDED BENEFITS
  • BUSINESS TAX CREDITS & DEDUCTIONS
  • CHOOSING THE BEST INVENTORY METHOD
  • BENEFITING FROM BUSINESS LOSSES
  • DEDUCTIONS FOR MEALS, ENTERTAIN- MENT, AND TRANSPORTATION COSTS
  • EMPLOYEE OR INDEPENDENT CONTRACTOR?
  • RETIREMENT STRATEGIES
  • ESTATE PLANNING

  • INTRODUCTION
  • 2020 MAY BE OUR LAST CHANCE TO TAKE ADVANTAGE OF THESE TRADITIONAL  BUSINESS TAX BREAKS 
  • HIGHLIGHTS OF SELECTED COVID-RELATED TAX PROVISIONS IMPACTING BUSINESSES
  • SELECTED TAX CHANGES INCLUDED IN OTHER RECENT LEGISLATION
  • TRADITIONAL YEAR-END TAX PLANNING TECHNIQUES  
  •  FINAL COMMENTS                                   

  • INTRODUCTION
  • 2020 MAY BE OUR LAST CHANCE TO TAKE ADVANTAGE OF THESE TRADITIONAL TAX BREAKS
  • HIGHLIGHTS OF RECENT LEGISLATIVE CHANGES
  • HIGHLIGHTS OF TRADITIONAL YEAR-END TAX PLANNING TECHNIQUES