Preparing for the Filing Season and More: e-News for Tax Professionals 2023-46

As we approach the end of the year, it’s time to get ready for the upcoming tax filing season. The IRS offers a wealth of resources to help tax professionals stay informed and prepared. In this week’s e-News, we’ll cover the 8th annual National Tax Security Awareness Week, how to become an authorized IRS e-file provider, and much more.

What’s New in Tax News?

The 8th annual National Tax Security Awareness Week kicks off on November 27. This is an excellent opportunity to learn about the latest security measures and how to protect your clients’ information.

Additionally, the IRS has scheduled a Webinar on Written Information Security Plan for November 30. This webinar will provide valuable insights into creating a robust information security plan.

Become an Authorized IRS e-file Provider

Tax professionals are encouraged to become authorized IRS e-file providers. This authorization allows you to submit your clients’ tax returns electronically, providing a faster and more efficient filing process.

Online Access for ITIN Holders

ITIN holders can now register for online access. This feature allows ITIN holders to manage their tax information conveniently.

Claim Your Recovery Rebate Credit

The IRS is reminding eligible 2020 and 2021 non-filers to claim their Recovery Rebate Credit before time runs out. This credit can provide significant financial relief for those who qualify.

Transfer Tax-Free Gifts to Charity

Eligible IRA owners can transfer up to $100,000 in tax-free gifts to charity. This provision offers a great way to support charitable causes while also benefiting from tax savings.

Proposed Regulations for Conservation Easement Contributions

The Treasury and IRS have proposed regulations implementing the disallowance of deductions for certain conservation easement contributions. Taxpayers involved in conservation easement contributions should stay informed about these developments.

Protect Against Scams and Schemes

During International Fraud Awareness Week, taxpayers are urged to protect against scams and schemes. Awareness and vigilance are key to preventing fraud.

Energy Efficient Commercial Buildings Deductions

Those who qualify can avail deductions for energy-efficient commercial buildings. These deductions encourage businesses to invest in energy-saving improvements.

News from the Justice Department’s Tax Division

Stay updated with the latest news from the Justice Department’s Tax Division. This information can provide valuable insights into the current tax landscape.

Technical Guidance

The IRS also provides technical guidance to help tax professionals navigate complex tax issues. This guidance can be a valuable resource for resolving your clients’ tax concerns.

Remember, if you have a specific concern about your client’s tax situation, you can call the IRS Practitioner Priority Service at 1-866-860-4259.

Stay informed and prepared with the latest e-News for Tax Professionals from the IRS.