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IRS to Try Out Its Free E-Filing Tax Return Program in 13 States Next Year

CPA Practice

According to the IRS, Arizona, California, Massachusetts, and New York have decided to work with the agency to integrate their state taxes into the Direct File pilot program for the 2024 filing season. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

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IRS Direct File Launches for Low-Income Taxpayers in 12 States

CPA Practice

It’s back to regular IRS deadlines this year, but with a new tool for many low- and moderate-income households: a service that will prepare and file their tax returns online for free. That sort of virtual hand-holding is similar to what you’d get by using commercial tax preparation software.

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What Happens if You Don’t Report Cryptocurrency on Taxes?

inDinero Tax Tips

That means you must disclose any cryptocurrency trading activity conducted over the past year on your tax return. Taxpayers are required to report all cryptocurrency transactions, including buying, selling, and trading, on their tax returns. How Do Businesses Report Capital Gains Tax on Cryptocurrency?

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What Happens if You Don’t Report Cryptocurrency on Taxes?

inDinero Tax Tips

That means you must disclose any cryptocurrency trading activity conducted over the past year on your tax return. Taxpayers are required to report all cryptocurrency transactions, including buying, selling, and trading, on their tax returns. How Do Businesses Report Capital Gains Tax on Cryptocurrency?

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Friday Footnotes: Tim Ryan Works Too Hard; Fake CPA Gets Violent Over QuickBooks Files; PwC PR | 10.20.23

Going Concern

Nevada CPA Pleads Guilty To Filing False Tax Returns [ U.S. Attorney’s Office, District of Nevada ] According to court documents and statements made in court, Lance K. LLB provided accounting services including tax preparation, audit and consulting services.

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IRS Direct File is Now Officially Open for Use in 12 States

CPA Practice

After several weeks of testing , the IRS said on Tuesday that eligible taxpayers in 12 states can now use its new Direct File service to submit their tax returns online for free directly with the agency. This includes 5.2 million in California, 3.8 million in Texas, 2.8 million in New York, 2.4 million in Florida, and 1.1

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Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

Going Concern

McCabe — happened after their tax returns were randomly selected for inclusion in the initial pools from which the agency drew to carry out the examinations. Las Vegas Tax Preparer Sentenced to Prison for Multiple Fraud Schemes [ Department of Justice ]. This one is a doozy: A Nevada man was sentenced Nov.