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The Addition, ASCPA Weekly Digital Newsletter
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Megan Hughes
Helen Freeman
Jeannine Birmingham
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ORGANIZATIONAL SESSION UPDATE
The Alabama Legislature convened for the 2023 Organizational Session this week. The purpose of the session was to elect…
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National Taxpayer Advocate Delivers Annual Report to Congress; Focuses on Taxpayer Impact of Processing and Refund Delays
(From the IRS Newswire, Issue IR-2023-04) National Taxpayer Advocate Erin M. Collins today released her 2022 Annual Report…
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IRS Completes Automatic Corrections of Tax Year 2020 Accounts Related to Unemployment Comp Exclusion; 12 Million Refunds Issued
The Internal Revenue Service recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid…
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IRS Issues Standard Mileage Rates for 2023: Business Use Increases 3 Cents Per Mile
The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of…
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IRS Announces Delay for Implementation of $600 Reporting Threshold for Third-Party Payment Platforms’ Forms 1099-K
The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to…
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IRS Releases FAQs about Energy Efficient Home Improvements and Residential Clean Energy Property Credits
Yesterday, the Internal Revenue Service released frequently asked questions (FAQs) about energy efficient home improvements…
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Saver’s Credit Higher Limits can Help Low- and Moderate-Income Workers Save More in 2023
The Internal Revenue Service reminds low- and moderate-income workers that they can save for retirement now and possibly…
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AICPA Letter on Revised 1099-K Reporting Threshold
Last week, AICPA sent a letter to Congressional leadership of the Senate Finance Committee and the House Ways and Means…
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Before Toasting the New Year, Taxpayers Should Review This To-Do List
The Internal Revenue Service today released a to-do list for taxpayers to get ready for 2023. Whether they plan to stay up…
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