• Call us: (904) 536-0673
  • Email: marti@redwoodtaxandaccounting.com
Make An Appointment
Redwood Tax & Accounting
  • Home
  • About
  • Services
  • News
  • Contact

Home

TIGTA: Delayed screening of IRS new hires risked taxpayer data

  • 12 Jul 2022
  • Admin
  • Uncategorized
  • Comments Off on TIGTA: Delayed screening of IRS new hires risked taxpayer data
Temporary waiving of fingerprinting and identification procedures for new federal employees due to the pandemic could have allowed access to taxpayer data by individuals who were ineligible for federal employment.

Estates can now request late portability election relief for 5 years

  • 11 Jul 2022
  • Admin
  • Uncategorized
  • Comments Off on Estates can now request late portability election relief for 5 years
The IRS extended to five years the period under which a taxpayer can use a simplified method (in lieu of a letter ruling request) to obtain an extension of time to make a portability election.

Proposed regs. would define Sec. 1256 foreign currency contracts

  • 05 Jul 2022
  • Admin
  • Uncategorized
  • Comments Off on Proposed regs. would define Sec. 1256 foreign currency contracts
The IRS’s definition would exclude foreign currency options or other derivatives, but such instruments may still be subject to the Sec. 1256 mark-to-market rules under other provisions.

IRS sets procedure for Superfund list changes

  • 28 Jun 2022
  • Admin
  • Uncategorized
  • Comments Off on IRS sets procedure for Superfund list changes
The IRS also has posted general Superfund FAQs and tax rates for some chemical substances subject to the recently reinstated excise tax.

Regs. proposed for present value of estate deductions

  • 27 Jun 2022
  • Admin
  • Uncategorized
  • Comments Off on Regs. proposed for present value of estate deductions
Administrative expenses and claims against estates allowable under Sec. 2053 beyond a three-year grace period would be discounted for current deduction, under proposed rules issued by the IRS.

IRS extends e-filing to more 1040-series amended returns

  • 23 Jun 2022
  • Admin
  • Uncategorized
  • Comments Off on IRS extends e-filing to more 1040-series amended returns
Nonresident alien amended returns and those for Puerto Rico residents are added; superseding returns can be designated.

National Taxpayer Advocate report targets IRS service

  • 22 Jun 2022
  • Admin
  • Uncategorized
  • Comments Off on National Taxpayer Advocate report targets IRS service
In her Objectives Report to Congress for fiscal 2023, National Taxpayer Advocate Erin Collins describes steps the IRS can take to improve its return and correspondence processing and telephone service to taxpayers.

Supreme Court to resolve FBAR penalty dispute

  • 21 Jun 2022
  • Admin
  • Uncategorized
  • Comments Off on Supreme Court to resolve FBAR penalty dispute
By agreeing to hear a Romanian-born businessman’s appeal, the Supreme Court will address a circuit split over how to stack maximum penalties for multiple nonwillful civil violations for failure to file the FBAR.

IRS voice bots help set up payment plans

  • 17 Jun 2022
  • Admin
  • Uncategorized
  • Comments Off on IRS voice bots help set up payment plans
The IRS deploys more AI-powered phone abilities, enabling taxpayers calling the Service to authenticate their identifies and arrange to pay tax liabilities.

Senate Finance airs post-Wayfair sales tax burdens

  • 15 Jun 2022
  • Admin
  • Uncategorized
  • Comments Off on Senate Finance airs post-Wayfair sales tax burdens
Small business owners describe scrambling to comply with varying sales tax compliance rules across a welter of jurisdictions.
1 2 3 … 44

Recent Posts

  • Key tax provisions in the Senate reconciliation bill
  • National taxpayer advocate appeals IRS response on scanning tech
  • Regulations streamline partnership basis elections
  • CHIPS and Science Act with semiconductor tax credit passes Congress
  • Senate passes CHIPS Act with semiconductor tax credit

Our Brochure

View our 2019 accounting brochure for an easy to read guide on all of the services offered.

Download .PDF

Download .DOC

Copyright 2019 Redwood Tax & Accounting
  • Website Design By Birdine Productions