The Internal Revenue Service recommends that employers, payers and their agents begin using a new, improved version of the agent-appointment form immediately, to avoid delays in having the IRS approve the agent appointments. All versions prior to the May 2007 form are now obsolete. Form 2678, Employer/Payer Appointment of Agent, authorizes an agent to file tax returns and deposit and pay employment or other withholding taxes on an employer or payer's behalf. However, the employer retains responsibility for filing Form 940, Employer's Annual Federal Unemployment Tax Return, and depositing and paying FUTA tax. The IRS recently redesigned Form 2678 to make it clearer and more user-friendly. The redesign resulted from an initiative led by the IRS Office of Taxpayer Burden Reduction. The IRS will return any obsolete versions of Forms 2678 that are filed and ask senders to submit the May 2007 revision instead. When the IRS approves Form 2678, both the employer or payer and the agent are liable for the employer's employment tax.
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The Public Company Accounting Oversight Board plans to host a series of five in-person forums this year, with different members of the board visiting cities including Chicago, Los Angeles, Denver, Miami, and Jersey City.
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The first class members of the AICPA and NASBA's pilot Experience, Learn & Earn program are completing their inaugural semester.
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A phish, a mill and a stroll overseas are just three of the 12 major scams the Internal Revenue Service identified for this year's rogues gallery.
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The process of becoming a remote partner isn't much different from the traditional path — but it may take a little extra effort.
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The Internal Revenue Service is extending tax relief on required minimum distributions from inherited retirement accounts not made in 2024 after providing similar relief in recent years.
April 16 -
Internal Revenue Service commissioner Danny Werfel testified at a hearing of the Senate Finance Committee to discuss this past tax season and the proposed budget for carrying out the agency's future plans.
April 16