JUST IN: 🇺🇸 President Trump to close over 120 IRS tax offices nationwide.

Tonight FinCEN announced that no fines or penalties will be issued, and no enforcement actions will be taken, until a forthcoming interim final rule becomes effective and the new relevant due dates in the interim final rule have passed. No later than March 21, 2025, FinCEN

The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines…

JUST IN: 🇺🇸 IRS drafts plans to fire half of its 90,000-person staff.

IRS refunds are 32% lower on average so far this tax season, per FORTUNE.

JUST IN: 🇺🇸 Trump administration to "rescind and amend" all previous IRS crypto guidance.

BREAKING: Trump is considering increasing the tax rate on the richest Americans' in return for cutting taxes on tips, per Axios.

Q for #TaxTwitter NC person timely filed 2021 ext. but hasn't filed 1040 yet - refund due of Fed W/H, no est. or ext. payments. Last date to claim refund? And why? Jeremy Wells Mike Sylvester, CPA

So now we have until Sept 25 to file 2023 returns and file/pay 2024 in NC. Of course NCDOR’s policy isn’t clear yet. Another one of those times where people could’ve “won” by waiting. NC #TaxTwitter friends what do we think? Sabrina the SALTy CPA James Upton III, EA

Who are all of our NC #TaxTwitter friends? I know of TaxBirdie Sabrina the SALTy CPA James Upton III, EA Who else?

JUST IN: 🇺🇸 Federal Reserve withdraws crypto activity reporting requirement for banks.

JUST IN: 🇺🇸 31% of IRS tax auditors quit following DOGE downsizing.

How do tax pros, cpa firms, lawyers, doctors, dentists & other professionals who see clients periodically keep up with client life events to reach out to clients timely? e.g. relative passes away, wedding, birth of a baby, etc. #taxtwitter #lawtwitter

Do you hands any recommendations @tryjasononline

JUST IN: 16 billion login credentials leaked in world's largest data breach, affecting Apple, Google, Facebook, Telegram & more.

How could they not have thought this would be a risk? Or how much were they making to be blind on this engagement?

We put together a (new) 50-minute masterclass on how to optimize your 1040 tax prep process 5 members of my team spent 2 weeks on this one. It may be the most complete 1040 workflow resource on the web. It's broken down into 11 steps: 1. Engage 2. Schedule 3. Intake 4.

What are we doing when there are very old NOL’s carrying forward for which we don’t have tax returns to provide detail for filling out Forms 172? Mike Sylvester, CPA Adam Markowitz, EA, CSLP #TaxTwitter