As we’re on the brink of 2024, taxpayers and tax professionals are eagerly gearing up for the upcoming IRS tax season – a time that may seem daunting, but fear not, as we navigate the financial landscape ahead. Mark your calendars for January 29, 2024, as the official kickoff when the IRS will begin accepting …
Navigating the 2024 Tax Season: A Guide to IRS Updates Read More »
Are you a CPA or a tax professional looking to take your career to the next level? The world of IRS tax resolution services and the coveted title of Enrolled Agent (EA) might be the perfect next step for you. At Crystal Clear Tax, we’re here to provide you with a comprehensive guide to becoming …
Your Roadmap to Success: A Practical Guide to Becoming an Enrolled Agent Read More »
In the intricate world of tax resolution, where time is of the essence, efficiency is paramount. One essential tool that tax resolution professionals can leverage is the Centralized Authorization File (CAF) number. Let’s explore the significance of CAF numbers, the process of obtaining one, potential pitfalls to avoid, and how Crystal Clear Tax stands ready …
Unlocking Efficiency: The Power of CAF Numbers in Tax Resolution Read More »
As the fiscal year starts on October 1st, there’s growing uncertainty about the approval of appropriations legislation to fund parts of the government, including the IRS. In this context, the potential shutdown raises concerns about the availability of crucial taxpayer assistance services. This blog post explores the ramifications of a government shutdown on the Taxpayer …
If Government Shuts Down, Taxpayer Advocate Service Can’t Help: What You Need to Know Read More »
In this article, we will emphasize the importance of electronic filings using Eastern Time (ET) and offer insights into a case where the lack of adherence to this guideline led to the loss of a taxpayer’s right to a prepayment review. Understanding Timely Filings According to Tax Court Rule 22, all petitions, regardless of format, …
Mastering Timely Tax Filings: A Guide to Avoiding Jurisdiction Pitfalls Read More »
As of January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) has implemented the beneficial ownership reporting rule, a key component of the Corporate Transparency Act (CTA). This rule mandates certain entities to file reports with FinCEN, disclosing information about beneficial owners and individuals involved in the entity’s creation or registration. In this blog post, …
In a recent announcement, the Internal Revenue Service (IRS) introduced a valuable tool for businesses, tax-exempt organizations, and various entities to streamline the utilization of tax credits. The new IRA/CHIPS Pre-filing Registration Tool is designed to facilitate the elective payment or transfer of credits, allowing eligible taxpayers to leverage incentives offered under the Inflation Reduction …
Unlocking Tax Credits with the IRA/CHIPS Pre-filing Registration Tool Read More »
There are a number of common tax errors made by parents which can be costly. Here are several of the most frequent, and how to avoid them. 1. Not getting a Social Security Number (SSN) quickly for each new child. You can’t claim them on your taxes if they don’t have a number! 2. Not writing …
Plan Ahead to Take the Stress Out of Tax Day April 15 is a grim day for many people because it’s the deadline for filing income taxes. This day doesn’t have to be unpleasant or overwhelming. You can reduce your stress and improve your financial future simply by getting a jump on your income tax …
10 Planning Strategies To Take the Stress Out of Tax Day Read More »
In the wake of tragic crises and natural disasters, people around the world are eager to lend a helping hand by donating to relief efforts. However, the Internal Revenue Service is warning taxpayers to be cautious, as there are fraudulent charities posing as legitimate organizations. These fake charities not only deceive unsuspecting donors, but the …
Beware: Fraudulent Charities Lurk Amongst Disaster Relief Efforts, IRS Warns Read More »
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