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Tax School Blog

Practical tax insights for working tax professionals.
Written by tax professionals for CPAs, EAs, and tax preparers.

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What’s New in Digital Asset Reporting

What’s New in Digital Asset Reporting

As digital assets grow more popular, governments and agencies are actively developing regulations to bring greater structure to the area. The IRS is increasingly focusing on how taxpayers, both individuals…
Legislative Limbo: Deciding When to File 2023 Taxes

Legislative Limbo: Deciding When to File 2023 Taxes

The IRS started accepting tax returns on January 29th, but on January 31st, the House passed the Tax Relief for American Families and Workers Act of 2024, which could impact…
Tax Bill Impacts Filing Season

Tax Bill Impacts Filing Season

On January 19, 2024, the bipartisan House Ways and Means Committee advanced H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024,” to the House floor by a…
FBAR Failure to File Penalty: Bittner v. U.S.

FBAR Failure to File Penalty: Bittner v. U.S.

The following is a reprint from the 2023 University of Illinois Federal Tax Workbook, Chapter 12: Rulings and Cases. The video is a discussion of the case by instructor Jerry Brune during…
BOI: New Federal Reporting for Small Businesses

BOI: New Federal Reporting for Small Businesses

Guest video blogger, Larry Gray (AGC Solutions), explains the basics of Beneficial Ownership Information (BOI). BOI is issued by the Financial Crimes Enforcement Network (FinCEN). According to BOI, qualifying small…
IRS Introduces Voluntary Disclosure Program for Ineligible ERC Claims

IRS Introduces Voluntary Disclosure Program for Ineligible ERC Claims

Since highlighting the Employee Retention Credit (ERC) on its annual Dirty Dozen list of tax scams, the IRS’ latest measure to help correct an influx of inaccurate credit claims is…