IRS News


covid 19 tax updates for professional tax preparers

COVID-19 Updates for Professional Tax Preparers


This article was last updated at 4 p.m. EST on Thursday, April 16, 2020. The IRS officially announced that Tax Day is now July 15th. Because of the outbreak of COVID-19, many individuals are staying home, working remotely, and even avoiding social contact. As a professional tax preparer, you may be wondering how this will impact your…


Security tax checklist from the IRS

IRS Releases the Taxes-Security-Together Checklist for Tax Professionals


Did you know that federal law requires all professional tax preparers to create and maintain an information security plan for client data? Whether you are the owner of a small business or a member of a major firm, you are a growing target for cyber-criminals who want to gain access to your client’s personal information. Taking the time to implement added…

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Tax Form Changes Coming in 2019


1040 Changes In 2018, the IRS created a shorter “postcard-sized” tax form to replace the existing Form 1040. The new 1040 has six schedules, which report items that in past years were located on the 1040. The line numbering on each additional schedule matches the number that was on the 1040 before the redesign. The six schedules report various items such as income,…

Man accepting new job and researching the new W-4 he may have to fill out.

IRS Releases New Form W-4 Draft


The IRS has released a draft of the new Form W-4, Employee’s Withholding Allowance Certificate which replaces the current W-4 starting in 2020.  Employees complete Form W-4 so that their employer withholds the correct amount of federal income tax from their pay. The redesigned Form W-4  provides taxpayers a simple, more accurate method in determining their…