Tax School Blog

Practical tax insights for working tax professionals.
Written by tax professionals for CPAs, EAs, and tax preparers.

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Gifting vs Inheriting

This post includes an overview of the differences between gifting property and inheriting property, touching on concepts of estate tax and property basis.

IRS Representation: What Tax Professionals Need to Know

This article will outline the basics you need to know about IRS representation, including how representation is obtained, the information you must provide, and how to limit the information the IRS has access to.

S Corp and Partnership Due Date Reminder

The deadline for calendar year-end S corp (Form 1120-S) and partnership (Form 1065) tax returns falls on the same day in 2023 for the 2022 tax year: March 15. With the deadline fast approaching and some businesses not having all documents or statements ready for return preparation, it may be necessary to file an extension.

Don’t Fall for ERC Scams – Qualify the Correct Way

Guest blogger, Larry Gray (AGC Solutions) review how to qualify for the employee retention credit the right way, and how you should be on your guard against advertising scams on social, telemarketing, radio, and television channels regarding this issue.

Cryptic Territory – An Update on Digital Assets and Tax Implications

Activity in cryptocurrency and digital assets is on the rise by individuals and businesses. Because of this, the IRS has increased its efforts to provide updated guidance on the tax treatment and reporting requirements tax practitioners and their clients should be aware of.

How Do I Report State Tax Rebates?

Among the many unusual things that happened during the COVID-19 pandemic, perhaps the most unusual was states rebating tax money to their citizens. As described in IRS notice IR-2023-23, 21…