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Archive for the 'Breaking News' Category

Tax Pros: Beware of New Scam Targeting Your Computer Systems

Posted on April 15th, 2016 · Posted in Breaking News, Industry News, Latest Updates

4/15/16 – In advance of the tax deadline, the Internal Revenue Service today warned tax professionals of a new emerging scam in which cybercriminals obtain remote control of preparers’ computer.. read more

CA Supreme Court Denies BOE Petition in Lucent Sales and Use Tax Case

Posted on January 28th, 2016 · Posted in Breaking News, Industry News

1/28/16  The California Supreme Court denied the BOE’s Petition for Review in the case of Lucent Technologies, Inc. and AT&T Corp. v. State Board of Equalization (Lucent) sales and use.. read more

IRS Taxpayer Assistance Centers Will No Longer Stock Forms W-2, W-3 and 1099

Posted on January 12th, 2016 · Posted in Breaking News, Industry News, Latest Updates

1/12/16 – The IRS reminds small business owners not to wait until the last minute to get blank Forms W-2, W-3 or 1099. The demand for paper tax products is.. read more

IRS Sending EITC Letters to Taxpayers

Posted on January 11th, 2016 · Posted in Breaking News, Industry News

1/11/16 – The IRS is sending 5621 and 5621-A letters to some taxpayers who may not be entitled to some or all of the Earned Income Tax Credit (EITC) claimed.. read more

ACA: Extended Due Dates for 1095s

Posted on December 29th, 2015 · Posted in Breaking News, Industry News, Latest Updates

On December 28, the IRS extended the due dates for new health care information reporting forms in 2016. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have.. read more

Tell Your Clients about the College Access Tax Credit

Posted on November 24th, 2015 · Posted in Breaking News, Industry News, Latest Updates

11/24/15 California’s Senate President pro Tempore Kevin de León is working with CSEA to promote California’s College Access Tax Credit. This tax credit leverages federal tax deductions through $500 million in.. read more

2016 PTIN Fees Revised

Posted on October 29th, 2015 · Posted in Breaking News, Industry News

10/29/15 – Effective Nov. 1, 2015 the annual fee for 2016 Preparer Tax Identification Numbers (PTINs) will be $50 for both new applications and renewals. The IRS will collect $33.. read more

FTB provides guidance on cancellation of debt income following Governor’s veto of AB 99

Posted on October 13th, 2015 · Posted in Breaking News, Industry News, Latest Updates

10/13/15 – FTB Tax News California law remains out of conformity with the federal statutory exclusion for certain discharges of qualified principal residence indebtedness for discharges of indebtedness occurring on.. read more

Breaking News: Mortgage Debt Forgiveness Bill Vetoed by Governor

Posted on October 13th, 2015 · Posted in Breaking News, Industry News, Latest Updates

10/12/15 – On Saturday, October 10, Governor Jerry Brown vetoed AB 99 (Perea, D-Fresno), a bill that would have resulted in state law conforming with federal law by extending tax.. read more

IRS – Tax Relief for Victims of Valley and Butte Fires

Posted on September 25th, 2015 · Posted in Breaking News, Industry News, Latest Updates

9/25/15 – Victims of the Valley and Butte fires that took place beginning on September 12, 2015 in parts of California may qualify for tax relief from the Internal Revenue.. read more