IRS Temporarily Stops Employee Retention Credit Processing
A rash of bogus ERC claims in recent months has prompted the IRS to put the program on hold through at least the end of 2023.
A rash of bogus ERC claims in recent months has prompted the IRS to put the program on hold through at least the end of 2023.
The Internal Revenue Service said Thursday it’s putting an immediate stop to processing of new claims for the Employee Retention Credit after receiving a surge of questionable claims. The immediate moratorium will be in effect until the end of the year.
Senate Majority Leader Chuck Schumer hopes to kickstart federal AI legislation with a major DC conclave that prioritized the industry’s Goliaths
The IRS is launching plans with boosted technology and artificial intelligence to collect unpaid taxes from higher earners, partnerships and large corporations, which could transform tax compliance or spark challenges for the agency, experts say.
The Internal Revenue Service plans to leverage artificial intelligence to identify patterns of noncompliance in large partnerships, while also ramping up its examinations of high-income taxpayers and big corporations.
Artificial intelligence at the IRS isn’t new, but the recent infusion of funding from the Democrats’ tax-and-climate law gives the agency more fuel to address compliance gaps.
Agriculture has always been a complicated business in a constant state of change. Those who recognize and embrace this reality will succeed while others will be left behind.
Former IRS Commissioner Mark Everson compares the efforts of the IRS to go paperless to the interstate highway system of the 1960s, when he was a child.
More than 300,000 accountants left the profession during the past two years either to start retirement, enter a new line of work or for other reasons, alliantTALENT said, citing Bureau of Labor Statistics data.
The piece is currently living on the site’s homepage and the stats included show that CPA leaders are unable to find the accountants they need are turning toward