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1.35M Taxpayers Could See Their IRS Penalties Automatically Removed Each Year (Accounting Today) - In 2001, the IRS implemented its first-time penalty abatement program to reward taxpayers who had a good compliance history....Since its inception in 2001, many taxpayers havenât taken advantage of this waiver. In 2012, the IRSâs watchdog, the Treasury Inspector General for Tax Administration, reported that only 8 percent of individual taxpayers requested and received the FTA waiver. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Top 10 Tax and Accounting Pros to Follow on Social Media in 2018 (Canopy Tax) - Big shifts are taking place in the accounting industry âfrom the new tax policy to the increasing relevance of blockchain and AIâand tax and accounting professionals are doing their best to keep up. AccountantsWorld's Hitendra Patil is one! Excel Users: The Haves and the Have-Nots (CPA Practice Advisor) - Historically once a version of Excel was released then it's feature set was locked for the typically three-year lifespan of that version. Conversely, the Office 365 version of Excel 2016 has been receiving periodic updates, sometimes as frequently as monthly, that are adding and sometimes taking away functionality within the software. Help Small Businesses Choose the Right Employee Retirement Plans (JofA) - Retirement plans offer significant tax advantages to small business owners and give them and their employees incentive to save for the future. The Best Way For Trusts And Estates Lawyers To Source New Wealthy Clients (Forbes) - There are many ways to potentially source high-net-worth clients. Some are unquestionably more powerful than others. Accounting/Audit |  TOP 5 MOST READ
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