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Taxpayer Advocate Collins Optimistic for 2023
Despite a significant number of challenges faced by taxpayers in 2022, National Taxpayer Advocate Erin Collins has reason to be more optimistic for 2023. "We have begun to see the light at the end of the tunnel," Collins wrote in the 2022 annual NTA report to...
IRS Delays New Third-Party Settlement Reporting Threshold Enforcement, Notice 2023-10
The IRS announced a delay in reporting thresholds for third-party settlement organizations (TSPOs). As a result of this delay, third-party settlement organizations will not be required to report tax year 2022 transactions on a Form 1099-K to the IRS or the payee for...
Treasury Announces Clean Vehicle Tax Benefits, FAQS, Planned Guidance, Notice 2023-1, FS-2022-42
The IRS and Treasury have announced have released a list of clean vehicles that meet the requirements to claim the new clean vehicle tax credit, along with FAQs to help consumers better understand how to access the various tax incentives for the purchase of new and...
Heckler & O’Keefe CPAs, P.C. is a full-service accounting firm with a long history and a steady path to the future which will successfully guide you in this complex and ever-changing world.
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