The IRS sent this press release about the 2019 tax-filing season on Jan. 29, 2019.
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When the Tax Cuts and Jobs Act (TCJA) was passed, it affected millions of individual taxpayers and tax preparers. As part of its implementation, the IRS adjusted its withholding tables. However, the adjusted withholding tables did not account for factors such as the elimination of personal and dependency exemptions or reduced itemized deductions. The result: many taxpayers have been unable to accurately calculate their tax liability for 2018 and may have inadvertently under-withheld their taxes. Recently, the AICPA sent a letter to the Department of Treasury and the IRS urging them to provide more extensive relief to taxpayers.
As this year’s tax filing season approaches, the AICPA and the Arizona Society of CPAs are receiving questions from members about the impact of the government shutdown on the IRS. Continuing the profession’s long-standing role as a resource to the IRS, the AICPA recently sent a letter to the Secretary of the Treasury and the IRS Commissioner expressing concern that the ongoing shutdown is burdening taxpayers and practitioners as they attempt to file complete and accurate tax returns. The letter identifies some of the more common challenges CPAs are already facing and offers recommendations to mitigate the long-term impact of the shutdown where appropriate.
This month’s update includes information on Arizona’s legislative session, ASCPA’s legislative podcast with Ryan DeMenna, an update on Accountancy Board rules and information from this month’s Accountancy Board meeting.
This month’s update includes information on new state House and Senate committee leadership, a meeting with Governor Ducey’s new Chief of Staff, an update on conformity and information from the Accountancy Board’s December meeting.
This month’s update includes information on the results of the mid-term elections, including the ban on services taxes, conformity for 2018, a summary of the Accountancy Board meeting and a reminder that PAC contributions make sure our CPA voice is heard.
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This month’s update includes information on the Arizona Department of Education’s Seal of Personal Finance, a meeting with the ADOR, Proposition 126 to ban the taxation of services and voter views on federal income tax conformity.
This month’s update includes information on a meeting at the Arizona Department of Revenue, an update on Proposition 207 and information from last month’s Accountancy Board meeting.