e-News for Tax Professionals 2023-42: Key Updates and Events

In today’s fast-paced world, staying updated on tax-related news and events is crucial for professionals in the field. This article brings to you the latest information about the Employee Retention Credit (ERC) withdrawal process, the live status of NTFO, tax relief for California storm victims, the Direct File pilot, and more.

Upcoming Events: An Overview

The world of tax professionals is always buzzing with activities. From seminars and workshops to conferences and other practitioner activities, there’s always something happening. These events are organized state-wise, catering to the specific needs and requirements of tax professionals across the country.

Inside the Tax World: Issue 2023-42

This section provides a detailed look into the key issues and updates in the tax world.

Employee Retention Credit (ERC) Withdrawal Process

The IRS has announced a new withdrawal process for Employee Retention Credit claims. This is an important update for tax professionals, as it directly impacts how they manage and process these claims.

New Initiatives by the IRS

The IRS has launched new initiatives using funding from the Inflation Reduction Act. The goal of these initiatives is to ensure that large corporations pay the taxes they owe.

2023 IRS Nationwide Tax Forums

The most popular seminars from the 2023 IRS Nationwide Tax Forums are now available online. This provides a great opportunity for tax professionals to catch up on any sessions they may have missed.

Tax Relief for California Storm Victims

The IRS has postponed the tax-filing and payment deadline for most victims of storms in California. This tax relief aims to provide some respite to those affected by these natural disasters.

Direct File Project for 2024 Tax Season

The IRS is advancing its innovative Direct File project for the 2024 tax season. This project is expected to streamline the tax filing process, making it easier and more efficient for taxpayers.

2024 Tax Counseling and Volunteer Income Tax Assistance Program Grants

Information about the 2024 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants is now available.

News from the Justice Department’s Tax Division

Stay updated with the latest news from the Justice Department’s Tax Division.

Technical Guidance

For tax professionals seeking technical guidance, resources are available to provide the necessary assistance and information.

Remember, staying updated on the latest tax news and events is key to being a successful tax professional. Keep an eye on this space for more updates and information.