Taxing Subjects

  • IRS Says It’s Time to Settle Syndicated Conservation Easement Cases

    The Internal Revenue Service says taxpayers with docketed abusive syndicated conservation easement transaction Tax Court cases should seriously consider settling. The warning comes less than a week after a U.S. Tax Court decision striking down four types of these transactions. Oh, and time is running out to accept the government’s settlement offer. What is an…

  • What is the taxable income QBI threshold for 2018?

    There are two income thresholds for claiming QBI in tax year 2018: $157,500 for single taxpayers, heads of household, qualifying widows and widowers, or trusts and estates $315,000 for married couples filing jointly Return to Taxing Subjects frequently asked questions. Related FAQs: What is the Qualified Business Income Deduction? What types of business income qualify…

  • Tax Season Survival Guide for Tax Preparers: IRS Tips + Smarter Workflow

    Practical tax season tips for preparers, including IRS compliance, workflow improvements, and stress management strategies.

  • What are TaxPro Websites from SiteDart Hosting?

    SiteDart TaxPro Websites are more than an online business card. These template-driven, tax professional websites let you choose the features you need, so you can continue providing the convenient, quality service clients expect—even when you’re not in the office:  Accept secure online payments for tax preparation services Allow customers to schedule appointments that sync to your…

  • What are the signs of identity theft tax refund fraud?

    The IRS’ “Taxpayer Guide to Identity Theft” details seven signs that your information may have been stolen: You get a letter from the IRS inquiring about a suspicious tax return that you did not file. You can’t e-file your tax return because of a duplicate Social Security number. You get a tax transcript in the mail…

  • What is a specified service trade or business (SSTB)?

    Businesses or trades involved in the following service fields are considered a specified service trade or business for the purposes of claiming the QBI deduction: Health Law Accounting Actuarial science Performing arts Consulting Athletics Financial services Brokerage services Investing and investment management Trading or dealing in securities Partnership interests Commodities The IRS also identifies “any…

  • What is an intranet?

    An intranet, unlike the Internet, is generally a private network that is only accessible to directly connected or credentialed devices. Propriety business intranets house private resources that are used by employees during the course of their work, often serving as communication hubs for the entire company. Some businesses also host bulletin boards and other idea-sharing…

  • What is employee unauthorized access?

    Employee unauthorized access occurs when an employee illicitly gains access to proprietary information or company-held personally identifiable information and financial data. This type of security breech is typically tied to identity theft schemes, and it can be carried out in a number of ways: Accessing company databases without prior authorization Looking at private information on…

  • What is a virtual private network?

    A virtual private network, or VPN, is a third-party service that creates an encrypted connection that can be used to securely access the Internet. Since they provide an extra layer of security, the Security Summit has recommended VPNs as an additional tool for tax professionals who work remotely or routinely send and receive PII and…

  • What is Identity Theft Tax Refund Fraud?

    Identity theft tax refund fraud occurs when identity thieves use stolen personal identifying information (PII) to file fraudulent tax returns to receive a tax refund check from the Department of Treasury. Identity thieves commonly steal PII through phishing scams, Dark Web auctions, hacking databases, installing malware, and employee unauthorized access. Return to Taxing Subjects Frequently…