The Internal Revenue Service has awarded roughly $9 million in matching grants to low income taxpayer clinics for the 2008 grant cycle, which runs from Jan. 1, 2008, through Dec. 31, 2008. LITCs are organizations independent from the IRS that provide low-income taxpayers with pro bono or nominal fee representation in federal tax controversies with the IRS. The clinics also provide tax education and outreach for taxpayers who speak English as a second language. IRS Publication 4134, Low-Income Taxpayer Clinic List, provides information on local clinics and contains details about the languages each clinic serves in addition to English. Through the LITC program, the IRS awards matching grants of up to $100,000 a year to qualifying organizations. For the 2008 grant cycle, the IRS awarded LITC grants to 154 organizations representing all 50 states, plus the District of Columbia, Puerto Rico and Guam.
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Gary Shapley and Joseph Ziegler reached settlements with the IRS and the Justice Department, and their lawsuit against Biden's attorney was dismissed by a judge.
October 17 -
Video game developers are benefiting from research and development tax credits and recent changes in the rules for deducting R&D expenses.
October 17 -
IFAC announces new advisory group chairs; TSCPA helps proclaim November as Accounting Opportunities Month in Tennessee; and more news from across the profession.
October 17 -
Plus, KPMG hails AI partnerships with Salesforce, Google; and other accounting technology news and updates.
October 17 -
Deloitte will partially refund the Australian government for an advisory report containing inaccuracies introduced by one of its AI models.
October 16 -
The expiration of premium tax credits for health insurance could lead to hundreds of thousands of job losses and billions in reductions to state revenues.
October 16