Tax Practice News
Surviving the Second Tax Season
The IRS reports a 30% increase in tax extensions over the past five years, with 19 million taxpayers filing for automatic extensions this year. This trend is reshaping our profession (and driving us all nuts). Read more
Oct 3, 2024
IRS Expands AI-Powered Chatbot Capabilities
The Internal Revenue Service (IRS) is leveraging artificial intelligence (AI) chatbots to enhance taxpayer assistance, with potential implications for tax practitioners and their clients. Read more
Oct 1, 2024
Changes Coming to Individual Estimated Tax Payments
The current system of quarterly individual estimated tax payments poses significant challenges for taxpayers, particularly those in the gig economy. Recently, the California Lawyers Association Taxation Section proposed changes to the IRS to help. Read more
Sep 26, 2024
The Changing Landscape of Tax Work
In an era of rapid technological advancement, small tax practitioners find themselves at a crossroads, pondering the potential impact of artificial intelligence (AI) on their profession. Read more
Sep 24, 2024
Limited Partners Can No Longer Avoid Self Employment Tax
The Tax Court's recent ruling in Soroban Capital Partners has significant implications for determining whether a limited partner's distributive share qualifies for the self-employment tax exception under Section 1402(a)(13). Read more
Sep 19, 2024
