Tax Blog
The latest tax tips and news from TallyPage Accounting and Bookkeeping
December watch: IRS spotlights tax security; automatic penalty relief on deck
It’s holiday shopping season. It’s also the warm-up for tax season. Two quick updates to know this December. Security push this week The IRS and state tax agencies are using early December to promote National Tax Security Awareness Week. The message is simple: thieves...
What is an IP PIN?
An Identity Protection PIN (IP PIN) is a six-digit number issued by the IRS to safeguard your federal tax return from identity theft and fraud. It ensures that only you, or someone you authorize, can file a tax return using your Social Security Number or Individual...
Just Married? Here’s Your Tax Checklist for a Smooth Start
Summer wedding bells may have just finished ringing, but tax season will be here before you know it. As newlyweds, it’s important to make a few key updates now to ensure a hassle-free tax filing experience next year. Here’s a quick IRS-backed checklist to...
IRS Extends Tax Deadline to January 10, 2025, Following National Day of Mourning
The IRS has announced a one-day extension for taxpayers with federal tax deadlines originally set for Thursday, January 9, 2025. The new deadline is Friday, January 10, 2025. This extension comes in response to a Presidential Proclamation issued on December 29,...
Reminder: Make Estimated Tax Payments by Jan. 15 to Avoid Penalties
If you underpaid taxes in 2024, consider making a fourth-quarter estimated tax payment by Jan. 15, 2025, to avoid penalties. The U.S. tax system requires payments throughout the year via paycheck withholdings or quarterly estimated payments. Missing a quarterly...
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What is FetchRSS? RSS Generator First of all it's an online RSS feed generator.This service allows you to create RSS feed out of almost any web page. Your only task is to provide us with target URL and point on desired blocks in our visual RSS builder.The rest is our...
ERC Voluntary Disclosure Program Deadline is March 22
Many businesses, enticed by misleading information, have found themselves unwittingly in non-compliance with ERC regulations. The IRS has urged tax preparers to act soon to verify their compliance, emphasizing the need for proactive review and correction. To help tax...
IRS Warns Tax Preparers of EFIN Documentation Scam
Tax season is in full swing, and with it comes a surge in scams targeting tax professionals. The Internal Revenue Service (IRS) and Security Summit partners have issued a warning about a new email scam that impersonates various software companies, aiming to steal...
Victims of ERC Fraud Can Use Voluntary Disclosure Program Through March 22
The Employee Retention Credit (ERC), initially introduced as part of the CARES Act in 2020 and extended through subsequent legislation, aims to provide financial relief to businesses impacted by the COVID-19 pandemic. However, claiming this credit requires adherence...
IRS Clarifies Digital Assets Not the Same as Cash—Yet
In a significant move last week, the Treasury Department and IRS announced that digital assets received by businesses do not follow the same reporting requirements as cash assets in 2024, at least until the issuance of specific regulations. This announcement comes...
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