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The Internal Revenue Service (IRS) and the Security Summit partners have issued a warning about a new wave of filing season-related email schemes where cybercriminals pose as potential clients. Recognizing the Threat In recent years, the IRS has witnessed a surge in “new client” scams during tax season, typically from January through April. These scams …

Stay Informed, Stay Secure: IRS Warns Tax Pros of Emerging Scams in 2024 Filing Season Read More »

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 »

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, …

Navigating FinCEN’s Beneficial Ownership Reporting Rule: Crystal Clear Tax Guides the Way Read More »

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 …

Ten Common Tax Mistakes by Parents Read More »