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Tax

Tax (1229)

Intuit Readying New Tax Planner

Plan idea actionmIntuit will introduce  the Intuit Tax Advisor during the summer, the company says on its website this month. Tax Advisor is described as providing substantially broader tax planning capabilities than the currently available Lacerte Tax Planner,

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Intuit Targets CPA/EA Biz

target dartsIntuit is continuing to go after the assisted tax preparation market. And the new head of the company’s consumer tax business, EVP Varun Krishna, this month talked about being “able to offer a more disruptive offering”

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More Forms to be Electronically Amended

Eraser pencil The Internal Revenue Service has increased the number of forms that can be amended electronically. The IRS said this month  the additions will aid it in working on its backlog of amended returns.

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IRS Completing 1040 Backlog

Letters pileThe Internal Revenue Service will complete work on the backlog of 1040 paper returns from 2021 this week, according to the agency. Business returns from last year will be completed “shortly after”, it said.

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TurboTax Extensions Doubled

Taxes with penThe number of extensions filed by TurboTax users doubled during the last filing season, Intuit EVP Varun Krishna said this month. Krishna said the rise came as the Internal Revenue Service reported a 50-percent increase  in extensions year over year.

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IRS Widens Use of Voice Bots

Bot newThe Internal Revenue Service has expanded the use of voice bots to help verify taxpayers their identifies to set up or modify a payment plan. 

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Preparer Pleads in Biz Sale Scam


 Police light newA Nevada tax preparer who used police lights on his car and posed as FBI agent to collect a fee, has pleaded guilty in a case involving ID theft and money laundering. King Isaac Umoren, 41, of Las Vegas was also charged with using a phony client list to sell his business for $3.8 million.

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IRS Hikes Mileage for 2H 2022

 Car mileageThe Internal Revenue Service is hiking standard mileage for business travel for the second half of 2022. An increase to 62.5 cents per mile will be in effect starting July 1.

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IRS Seeks More than 4,000 Reps

Irs 2015The Internal Revenue Service this month is holding virtual and in-person information events in support of its effort to hire more than 4,000 customer service representatives. The effort comes as the the ability of the IRS to provide service declined during the pandemic.

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Preparers Charged in ID Theft Case

gavel Two Orange County, Calif., tax preparers have been charged in a case involving ID information provided to them by a social worker. The preparers, Anton Nguyen and Rosemary Pham, have pleaded not guilty to conspiring to defraud the United States.

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