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IRS urges taxpayers to choose tax preparers carefully to protect their personal information

— The Internal Revenue Service today reminded taxpayers that choosing the right tax professional is essential to helping them avoid tax-related identity theft and financial harm. 

IRS, national partners launch EITC Awareness Day on 50th anniversary of the Earned Income Tax Credit

— The Internal Revenue Service and partners around the nation today celebrated the 50th anniversary of the Earned Income Tax Credit (EITC) with the launch of this year’s EITC Awareness Day campaign. 

IRS offers top tips to make tax time easier

— The Internal Revenue Service today provided taxpayers with six tips to make filing their 2024 tax return easier. 

2025 tax filing season starts as IRS begins accepting tax returns today; taxpayers have many options for help

— The Internal Revenue Service opened the 2025 tax filing season today and is accepting and processing federal individual tax year 2024 returns. 

IRS provides updated frequently asked questions for the energy efficient home improvement and residential clean energy property credits

— The Internal Revenue Service today updated the frequently asked questions in Fact Sheet 2025-01.  

IRS issues guidance for the District of Columbia and states that have paid family and medical leave programs

— The IRS today issued guidance on the income and employment tax treatment of contributions and benefits paid in certain situations under a state paid family and medical leave program, as well as the related reporting requirements. Rev. Rul. 2025-4 provides guidance to the District of Columbia and states that have mandatory paid family and medical leave programs and for employees working in and employers operating in those states. 

IRS reminder: Wage statements and certain information returns due by Jan. 31

— As tax filing season nears, the Internal Revenue Service reminds businesses to submit wage statements and certain information returns to the federal government by Jan. 31.

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BOI penalties increase while reporting rules remain on hold

The Financial Crimes Enforcement Network list includes inflation-adjusted amounts for the civil monetary penalties for violating beneficial ownership information reporting rules.

FinCEN hints at BOI reporting changes in court filing

If an injunction is lifted, FinCEN will extend BOI filing deadlines for 30 days and reassess the types of companies required to file beneficial ownership information reports, the government said in its filing in a Texas case.

IRS delays resignation offer for critical tax season workers

IRS employees received an email Wednesday advising them that workers in “critical filing season positions” must work until mid-May.

FBAR penalties are not extinguished upon taxpayer’s death

FBAR penalties accrue on the date the FBAR form is due, not the date the penalty is assessed, a district court held.

Frivolous-tax-return penalty sustained

The Tax Court found all requirements of Sec. 6702(a) were met regarding the taxpayer’s zero-wage and -income return.

Line items

Final regs. modernize process for sale of taxpayers’ property ... Inflation adjustments to retirement account limits issued for 2024 ... IRS to end automatic penalties for late filing of foreign gift, bequest forms ... Fraudsters get $47 million from practitioner priority service line scheme

‘A big tax year’: What practitioners need to know now

An AICPA tax leader updates listeners on the status of beneficial ownership information reporting, explains advocacy focus areas related to proposed Circular 230 regulations, and discusses the issues that would need to be negotiated to produce an extension of the Tax Cuts and Jobs Act. Listen to the podcast episode or read the Q&A.

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Trump Trade Nominee Defends Plan to Reorder International Trade

Jamieson Greer advocated restructuring the international trading system and defended the president’s aggressive actions against Canada and Mexico as he testified before the Senate.By Ana Swanson

Target Went All In on D.E.I.; Its Sudden Pullback Has Black Sellers Reeling

Black-owned brands got a foot in the door through accelerator programs at big retailers like Target and Amazon. Now they worry the door might be closing.By Jordyn Holman and Julie Creswell

Small-Business Owners Say Tariffs Will Squeeze Them, and Their Customers

Consumer electronics, electrical equipment, and textiles and apparel are among the top categories of goods imported into the United States from China.By Danielle Kaye

Sundance Made Park City the It Town. Not Anymore.

After holding the event for 40 years in the Utah ski town, organizers plan to take it elsewhere starting in 2027.By Nicole Sperling

Can Improv Comedians Make a Living? Yes, in Your Office.

For some improv comedians, Fortune 1000 companies can help make the funny business more lucrative.By Sam Sanders

What 7 Americans Thought About Trump’s Inauguration Speech

We’ll be regularly checking in with this group of people during President Trump’s first 100 days in office. Here’s what they thought on Day 1.By The New York Times

Against All Odds, a Vegas Theater Scene With a ‘Sense of the Wild West’

Local artists straddle aesthetic and artistic worlds in the land of mega-spectacles and oversize flash.By Elisabeth Vincentelli and Mikayla Whitmore

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To Make Your Office More Neurodivergent-Friendly, Make It More Human-Friendly

When you foster an environment based on true inclusion and belonging that doesn’t single out individuals, you create a workplace where everyone can succeed.

Privacy Versus Confidentiality: What Every Business Needs To Know

Your business has an ethical—and legal—obligation to protect consumers' private information.

10 Business Lessons From 2024 That Founders Should Embrace For Success

This is a time for embracing agility, innovation and efficiency.

Navigating Immigration Law Challenges To Achieve Business Success

Obtaining authorization to work in the U.S. is crucial to your business operations; don't treat it as an afterthought.

How To Impact Your Business By Impacting Society

What exactly defines a purpose-driven business?

Four Housing Market Predictions For Industry Professionals To Watch In 2025

The year ahead promises both opportunities and challenges for real estate investors, landlords and property managers.

5 ChatGPT Prompts For Instant Clarity On Your Next Move In Business

Find your next step in business with powerful ChatGPT prompts. Get crystal clear on your million dollar move and make it today. No excuses.

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Trump 2.0 or Project 2025?

Project 2025, is a 900-plus page blueprint for a conservative President. It was unveiled in the spring of 2023, well before Donald Trump had won the republican presidential nomination.

Fired by Trump, EEOC official fears what the anti-discrimination agency will become

Jocelyn Samuels was Trump's pick in 2020 to fill a Democratic seat on the U.S. Equal Employment Opportunity Commission. She was fired in January, accused of embracing "radical" ideology.

A Stradivarius violin sells for $11.3 million at auction, falling short of record

The violin, made over 300 years ago by a legendary luthier, had been expected to sell for a higher price. The proceeds will go toward a scholarship program at the New England Conservatory.

New CFPB chief closes headquarters, tells all staff they must work remotely for the week

The edict comes as Russell Vought takes over at the Consumer Financial Protection Bureau. Vought has ordered work to halt at the consumer finance watchdog, and is cutting off new funding.

How conspiracy theories about Politico led Trump to cancel subscriptions

Less than 24 hours after misleading claims started circulating that tied Politico to USAID, the White House vowed to end subscriptions for the insider news outlet's services and others.

Musk's team takes control of key systems at Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau is the latest target of Elon Musk's Department of Government Efficiency.

Egyptian Singer Umm Kulthum Still Enthralls, Fifty Years After Her Death

The musical diva of the Arab world is commemorated in Paris. And tariff threats have Prosecco lovers stocking up.