Many businesses are familiar with manual notice handling. It’s the default position for most startups. And for more established companies, it may be the permanent solution. Having qualified accounting professionals who are responsible for manually...
Many businesses start out handling tax and compliance notices manually. That’s to be expected, as new enterprises may not yet understand how much time it can take or the scope of the responsibility. Unfortunately, they often underestimate the true cost...
Celebrating the completion of MCIL this week in New York City, our CEO, and co-founder Amanda Reineke was featured on Morgan Stanley’s Jumbotron in the center of Times Square. “The journey has been a once-in-a-lifetime experience that has poised Notice...
Cryptocurrencies have emerged from the obscurity of blockchain to the popularity of Super Bowl commercials. There are currently over 18,000 different virtual currencies, from Bitcoin and Ethereum to thousands of tiny or defunct currencies. They are...
Federal tax notices are frozen for much of 2022, but state departments of revenue have been busy sending notices out regularly.While the IRS is struggling with larger mandates, more complex tax laws, and declining budgets. States are not facing the same...
The Taxpayer Advocate Service is an independent unit within the IRS that is charged with the mission to “strive that every taxpayer is treated fairly and knows and understands their rights.” Most taxpayers and many preparers aren’t even aware that the...
Up until 2015, people who wanted to file taxes electronically could do it very easily and the IRS had little power to verify that the return was legitimate. This led to enormous abuses a decade ago and millions of dollars in fraudulent tax refunds being...
Entering tax season 2022, the Internal Revenue Service still had a significant backlog of unprocessed tax returns and amended returns from previous years.In some cases, computer generated notices related to these unprocessed returns have been going out,...
There is a disappearing notice that used to be essential for most tax returns. It’s the form 1099-G from state governments that tells taxpayers if they had a state income tax refund in the prior tax year. This form still gets reported to the IRS, but few...