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Platinum Professional Services
Jun 24, 20241 min read
IRS Issues Guidance on Exceptions to Additional Tax for Early Retirement Plan Distributions
The IRS has released Notice 2024-55, offering guidance on exceptions to the 10% additional tax for early retirement plan distributions...
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Platinum Professional Services
Jun 17, 20241 min read
Educational Assistance Programs
Taxpayers can exclude certain educational assistance benefits from their gross income if these benefits are provided under an educational...
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Platinum Professional Services
Jun 6, 20243 min read
IRS AFTR Courses Available for the 2025 Tax Season
Platinum's IRS approved AFTR tax courses for the annual filing season program are available now for the 2025 tax season. What are the...
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Platinum Professional Services
May 28, 20241 min read
Tax Return Deadlines for Taxpayers Living Abroad is June 17
The IRS has issued a reminder for U.S. taxpayers living and working abroad to file their 2023 federal income tax return by June 17. This...
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Platinum Professional Services
May 20, 20243 min read
IRS announces tax relief for taxpayers impacted by tornadoes in Ohio; various deadlines postponed to Sept. 3, 2024
The Internal Revenue Service announced today tax relief for individuals and businesses in Ohio that were affected by tornadoes that began...
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Platinum Professional Services
May 13, 20242 min read
By law, taxpayers have the right to challenge the IRS’ position and be heard
Every taxpayer has fundamental rights when working with the IRS. Collectively their rights are known as the Taxpayer Bill of Rights. One...
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Platinum Professional Services
May 8, 20241 min read
Time to Claim $1 Billion in Tax Refunds from 2020 Expires May 17
The Internal Revenue Service reminded the 1 million people who didn’t file their tax year 2020 returns they may be eligible for a refund...
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Platinum Professional Services
May 2, 20242 min read
When a taxpayer should file an amended federal tax return
When a taxpayer realizes that their federal tax return has a math error, missing income or other mistake, they should file an amended tax...
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Platinum Professional Services
Mar 19, 20245 min read
March 22 deadline approaching to resolve incorrect Employee Retention Credit claims
With a key March 22 deadline rapidly approaching to resolve incorrect Employee Retention Credit claims, the Internal Revenue Service...
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Platinum Professional Services
Mar 12, 20242 min read
IRS finalizes rules on elective payments of certain clean energy credits under the Inflation Reduction Act
The Department of the Treasury and Internal Revenue Service issued final regulations for applicable entities that earn certain clean...
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Platinum Professional Services
Feb 29, 20241 min read
Spokane Area Tax Relief
The Internal Revenue Service has announced Spokane area tax relief for individuals and businesses in parts of Washington state affected...
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Platinum Professional Services
Feb 21, 20241 min read
Michigan Tax Relief
The Internal Revenue Service (IRS) has announced tax relief measures aimed at aiding individuals and businesses in Michigan who were...
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Platinum Professional Services
Feb 14, 20241 min read
Watch out for “new client” email scam - IRS warns
Tax professionals are warned about a rising "new client" scam during the busy tax filing season. In this scheme, cybercriminals...
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Platinum Professional Services
Feb 6, 20242 min read
Tax Relief for Maine
The Internal Revenue Service (IRS) has announced tax relief measures for individuals and businesses in areas of Maine impacted by severe...
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Platinum Professional Services
Feb 1, 20242 min read
Disaster victims with extensions must file their 2022 tax returns by February 15th
The Internal Revenue Service reminded disaster-area taxpayers, disaster victims with tax extensions to file their 2022 returns, that...
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Platinum Professional Services
Dec 26, 20231 min read
IRS Releases Standard Mileage Rates for 2024
Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 67 cents per...
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Platinum Professional Services
Dec 14, 20231 min read
2024 Tax Season: IRS Online Account enhancements
The IRS has made online account enhancements. Taxpayers and Individual Taxpayer Identification Number (ITIN) holders can now access...
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Platinum Professional Services
Dec 7, 20231 min read
Reminder - Renew Your PTIN before 12/31 for 2024
Paid tax return preparers with a PTIN expiring on Dec. 31, 2023: You need to renew your PTIN for 2024 with the online renewal process. It...
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Platinum Professional Services
Nov 13, 20232 min read
Signing up to be an IRS-certified volunteer is a great way to help people
IRS-certified volunteers play a crucial role during tax filing season, serving as the often-overlooked heroes. Each year, these dedicated...
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Platinum Professional Services
Nov 3, 20233 min read
Reminder: IRS AFSP Deadline 12/31/23 - IRS AFSP Courses available
The deadline for the IRS AFSP (Annual Filing Season Program) is December 31st. Make sure to have your IRS AFSP CE courses completed by...
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