The employee retention credit (ERC), the refundable tax credit designed to reward business owners for retaining employees throughout the COVID-19 pandemic was signed into law on March 27, 2020, as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and further significantly expanded in 2021. Eligible business owners can claim up to $5,000 in refundable tax credits for each employee on their payroll in 2020 and up to a $7,000 credit per quarter (excluding Q4) for each employee in 2021. The calculation and procedures are complex, and taxpayers continue to seek help from trusted advisers to help them successfully claim their benefit. On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, and Chris Wittich, MBT, CPA, Partner — Boyum Barenscheer, discuss eligibility requirements for the credit, how to help clients with their ERC needs and pitfalls when working with questionable third parties. What you’ll learn in this episode Overview of ERC qualifications (2.47) What is an acceptable government order (4.50) How to collect documentation regarding government orders (9.00) Supply chain disruptions effect on the ERC (11.46) How to handle clients that don’t qualify (13.43) Marketing strategies for clients (17.09) Contingent fees (21.29) Experiences with refund statuses (24.50) Wrap-up (27.14) A page from Chris’s travel journal (28.07)  AICPA resources Employee retention credit guidance and resources — The ERC is an important of the COVID-19 relief legislation for small businesses. This library provides the ins and outs of calculating this credit. Challenges with contingency fees and the ERC | Tax Section Odyssey — Explore the prospect of contingent fees for ERC work and how regulatory rules govern its usage with the AICPA’s April Walker and Ed Karl. Other resources FAQs: Employee Retention Credit under the CARES Act — IRS answers to frequently asked questions on the ERC. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

In this episode of the Tax Section Odyssey, April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, talks with brand, marketing and growth strategists, Manny Torres and Kenny Harper from Growth Amplifiers. Growth Amplifiers works with business advisors to help them increase their profits and the success of their businesses. The organization provides tips, tools and strategies to help advisory businesses elevate the value and experience they provide to their customers and/or clients. What you’ll learn in this episode What Growth Amplifiers offers to business owners (1.52) Strategies to help tax professionals elevate the type of clients that they serve (3.17) Tips for attracting the right clients (8.58) How to decide what range of services to offer to attract ideal clients (13.11) The profit-growth formula (15.35) Communication strategies to overcome the overwhelming feeling during tax season (23.01) Final thoughts (29.16) A page from Kenny’s travel journal (31.24) AICPA resources CPA Marketing Toolkit — The resources in the CPA Marketing toolkit help you communicate with prospects and clients throughout your career. These tools help you demonstrate your strength as a trusted adviser, assisting with all aspects of your clients’ financial situations. Other resources Business Advisor Growth Guide — Growth Amplifiers offers a free downloadable resource to amplify your practice. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Alternative work arrangements such as remote or hybrid options are becoming more prolific making it crucial for firms to fully leverage digital technologies. Mainstays like automation, e-marketing and employee engagement strengthen relevancy  and future proof a business — especially with the “great resignation” looming and client interaction mechanisms evolving. In this episode of the Tax Section Odyssey, April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, talks through these topics with Cari Weston, MST, CPA, CGMA, Executive Director — Center for Accounting Transformation. Cari will be joined by Donny Shimamoto, CPA,CITP, CGMA, Founder and Managing Director — IntrapriseTechKnowlogies LLC, for the webcast Tax Practice Quarterly: A Blueprint for Tax Technology and Digital Optimization on May 17, 2022, 1–3pm ET (rebroadcasted on May 25, 2022, 3–5pm ET) to continue the discussion with an in-depth presentation. What you’ll learn in this episode Important objectives for the Center for Accounting Transformation (2.45) Tips on how to narrow the search for technology stack improvements and ideal implementation timing (4.10) Primary hold ups that impede the progress of firms embracing technological changes (9.45) Potential processes often overlooked that are eligible for the biggest automation improvements (15.00) Alternate work arrangements and related technology improvement needs (16.26) Cari’s final thoughts (20.50) A page from Cari’s travel journal (22.08) AICPA resources Tax Practice Quarterly: A Blueprint for Tax Technology and Digital Optimization — Digital transformation can take a “phoenix” or “evolutionary” approach — the path you take depends on your risk appetite, budget, and business strategy. Attend this non-technical session on May 17, 2022, 1 – 3pm ET (rebroadcast on May 25, 2022, 3 – 5pm ET) to figure out which digital technologies you should be looking at and which transformation strategy may be the right one for you. AICPA Town Hall Series— Bi-monthly, high-impact news broadcast series that delivers the latest news, analysis, insights and practical guidance to accounting and finance professionals and respond to pressing issues facing the profession Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

The April 2022 tax deadline has passed and many tax practitioners are soaking in a well-deserved respite. Now may be the opportune time to think about starting up your own tax practice. While the thought of being a successful entrepreneur may seem daunting, there’s some best practices to get you started. On this episode of the Tax Section Odyssey April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, talks with Kelly Rohrs, CPA, P.C., Owner — Kelly A. Rohrs, CPA, about her transition over the past year to owning her own tax practice and lessons learned for success. What you’ll learn in this episode Motivating factors that influenced Kelly to open her own practice (1.57) Important lessons learned over the past year (4.09) Finding help for administrative tasks (5.38) Knowing your optimal technology stack needs (7.20) Tips for having a successful work-life balance (10.06) Evaluating social media platforms(15.22) Billing practice suggestions (17.53) Final thoughts from Kelly (22.10) A page from Kelly’s travel journal (23.06) AICPA resources Key considerations when buying a CPA practice | Tax Section Odyssey — Raleigh Cutrer, CPA/PFS/ABV, Shareholder at Matthews, Cutrer and Lindsay, P.A., talks about five key areas to consider when exploring whether to acquire another CPA practice. Key considerations when selling a CPA practice | Tax Section Odyssey — Raleigh Cutrer, CPA/PFS/ABV, Shareholder at Matthews, Cutrer and Lindsay, P.A., talks about five key areas to consider when in the process of selling your CPA practice. AICPA Town Hall Series– Bi-monthly, high-impact news broadcast series that delivers the latest news, analysis, insights and practical guidance to accounting and finance professionals and respond to pressing issues facing the profession Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

The homestretch of the tax season is drawing near. On this episode of the Tax Section Odyssey April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, highlights three top-of-mind items lingering on as we near the end of busy season 2022. What you’ll learn in this episode Status of relief around Schedules K-2/K-3 (0.50) Updates to the Gramm-Leach-Bliley Act Safeguards Rule (3.45) Where to hear more about the “billionaire tax” and other proposed tax reforms related to the 2023 fiscal year budget (6.36) AICPA resources Gramm-Leach-Bliley Information Security Plan Template — Tax preparers must implement security plans to protect client data. Failure to do so may result in a Federal Trade Commission (FTC) investigation. Download and customize this template to document your firm’s policies. The 2023 tax revenue proposals released by the Biden Administration — In this March 29, 2022 episode of the PFP Section podcast, Bob Keebler, CPA/PFS, highlights the relevant proposals to CPA financial planners. Other resources General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals — Commonly referred to as the “Greenbook,” the document summarizes the Administration’s tax proposals contained in the fiscal year 2023 budget. FTC Strengthens Security Safeguards for Consumer Financial Information Following Widespread Data Breaches — The FTC announced on Oct. 27, 2021 updates to the Safeguards Rule to better protect the American public from breaches and cyberattacks that lead to identity theft and other financial losses. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

At the end of 2017, the Tax Cuts and Jobs Act (TCJA), P.L. 115-97 delivered the $10,000 state and local tax (SALT) deduction limitation. Before passage of TCJA, individuals who itemized deductions could deduct their state tax payments in full using Schedule A, Itemized Deductions, of their federal Form 1040, U.S. Individual Income Tax Return. Now that the amount of the deduction is limited, shifting the income taxes directly to the passthrough entity swings the deduction upstream. In theory, a basic workaround seems simple. However, the varying mechanics of how each state’s workaround actually works has created complexities for taxpayers and practitioners. On this episode of the Tax Section Odyssey, Alexander Scott, JD, LLM Senior Manager — AICPA Tax Policy & Advocacy, and Annette Nellen, CPA, CGMA, Esq., Tax Professor — MST Program at San Jose State University, and a past Chair of the AICPA Tax Executive Committee, join April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, to examine the current state of various passthrough entity (PTE) tax workaround regimes. What you’ll learn in this episode Overview of the passthrough entity (PTE) tax  (1.07) Items to keep in mind that vary among states (2.23) Highlights of the Notice 2020-75 published in 2020 (4.05) Considerations for tax practitioners when working with clients (7.42) Terminology considerations, including “specified income tax payments” and “nonseparately stated taxable income or loss” (8.55) Additional considerations to keep in mind for compliance purposes, including what personnel within a client’s business you’re interacting with (10.55) Similarity to second class of stock complications (12.26) Form presentation and partnership agreement modifications (15.35) Timing sensitivities and mechanic issues (17.15) Final thoughts (21.42) AICPA resources SALT Roadmap — State and Local Tax Guide — Navigate the complex world of state and local taxes with an animated map compiling basic state information and quick links to state's forms and instructions, government websites and CPA society information. State and Local Tax Advocacy Resources — Information on state-level advocacy issues featuring the AICPA position paper on state PTE tax implementation issues. States with adopted or proposed PTE tax — This map demonstrates state activity regarding PTE tax. The Tax Adviser —a collated list of the latest articles on the SALT cap deduction.  Other resources Notice 2020-75 — The IRS clarified in 2020 that partnerships and S corporations may deduct their state and local tax (SALT) payments at the entity level in computing their nonseparately stated taxable income or loss. In addition, the notice announced that the Department of the Treasury and the IRS intend to issue proposed regulations of the same. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Non-cash compensation has become more familiar in the workplace, with nearly one-in-five individuals holding some type of equity. As such, taxpayers need to have the right mix of tax, financial and legal advice, as well as appropriate technology solutions, to confidently make critical decisions around wealth management.  On this episode of the Tax Section Odyssey, April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, talks with  guest David Snider, Founder and CEO — Harness Wealth, about his mission to make financial advice accessible, intuitive and valuable using a holistic wealth platform. What you’ll learn in this episode Who is Harness Wealth and its unique approach to financial planning (3.01) What is a “NextGen” client and why is this important to business operations? (5.29) How technology alters the needed skill sets for CPAs (9.22) Some unique characteristics of NextGen clients’ needs (14.14) What the phrases “financial planning” and “wealth management” really mean and how tax advisers implement these areas of practice (16.02) Fees and billing strategies (18.43) Serving clients investing in cryptocurrency (21.22) Important advice practitioners can offer to clients early in their careers (23.51) A page from David’s travel journey (24.54) AICPA resources Virtual currency tax guidance and resources — Sharpen your cryptocurrency tax skills and advise clients on virtual currency tax complexities and strategies. Personal Financial Planning — Navigating personal finance decisions is more complex than ever. Your position as a trusted adviser in tax, retirement, estate, risk management and investment planning is critical to helping clients prepare for the future. Here's everything you need to know to serve as their primary point of contact.  Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

The new Schedules K-2 and K-3 aim to improve reporting by standardizing international tax information to partners and flow-through investors, making it easier for them to report these items on their individual tax returns. However, implementing the required changes continues to cause transitional challenges for the tax community. Although the IRS has released IR-2022-38 and a series of frequently asked questions (FAQs), more guidance is needed. On this episode of the Tax Section Odyssey, April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, talks with  guest Stephanie L. Chapman, CPA, Director, International Services — Belfint, Lyons, Shuman, CPAs, about where we are with Schedules K-2 and K-3 reporting and discusses procedural tips for preparation. What you’ll learn in this episode Timeline of Schedules K-2 and K-3 information releases and AICPA resources and comment letters (0.47) The potential for a full delay in implementation (2.28) Who must file the new schedules (4.58) Filing requirement exceptions (8.12) What taxpayers can do in tax software if country codes are unknown (11.02) Woes with PDF attachments when forms aren’t available in software (13.08) Client management guidance, billing practices and engagement letters (15.23) AICPA resources IRS Schedules K-2 and K-3 guidance and resources — Access resources to advise clients on IRS Schedules K-2 and K-3, such as a client information letter and an earlier podcast episode from November 2021, which are used to report items of international tax relevance from the operations of pass-through entities. AICPA additional comments regarding Schedules K-2 and K-3 reporting – The AICPA submitted comments on Feb. 18, 2022, requesting a delay in the implementation of Schedules K-2 and K-3 to 2023 and recommending the IRS provide additional guidance. AICPA comments on proposed international changes to Form 1065, Schedule K-2, and Schedule K-3 — The AICPA submitted comments in 2020 on the proposed international changes to Form 1065, Schedule K-2, and Schedule K-3, including the recommend transmittal of Schedule K-3 in portions and minimizing overreporting by allowing partnerships the ability to determine the reporting needs of its partners. Other resources Schedules K-2 and K-3 Frequently Asked Questions (Forms 1065, 1120S, and 8865) — A set of FAQs released by the IRS on the new schedules and their reporting requirements. News Release IR-2022-38 — The IRS announced further details on additional relief for certain partnerships preparing Schedules K-2 and K-3 for 2021 on Feb. 16, 2022. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

According to the FBI, cybercrime has increased by 300% since the start of the COVID-19 pandemic. Now, more crucial than ever, tax practitioners need to remain vigilant and one step ahead of cybercriminals in the everchanging world of data security. Listen in to a frank discussion on cybersecurity with April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section and special guest Byron Shinn, CPA, Partner — Carr, Riggs & Ingram, LLC, on this episode of The Tax Section Odyssey. What you’ll learn in this episode Is a cyberattack a real threat? (0.43) What does a data security plan look like (3.15) How often should you review a data security plan (8.16) Cybersecurity insurance considerations (10.14) Attorney recommendations to help in the cybersecurity arena (13.55) Real-life examples of CPA firm concerns and data security plan insecurities (16.29) The why and how of independently testing network security (16.47) Example of encryption hack; ransomware and cryptocurrency (18.51) Lack of cyberattack reporting and high-profile cases (20.40) Important takeaways for cybersecurity (22.31) A page from Byron’s travel journal (24.38) AICPA resources Cybersecurity resources — Access additional resources on our Cybersecurity Resource Center to help organizations and businesses, including CPA firms, assess risks. Best Practices for Keeping Client Data Secure — Learn about proactive data security tips for practitioners to implement to keep client data protected from identity theft. Gramm-Leach-Bliley Act Information Security Plan Template — The Gramm-Leach-Bliley Act requires financial institutions to have a written information security plan. Use this template to document your firm's policies. Identity Theft Checklist — Provide this checklist to clients to help them appropriately and efficiently address identity theft issues. Letter to Advise Client on Tax-Related Identity Theft — Notify a client of a potential tax-related identity theft and/or outline the steps that can be taken to address the issue. Letter to Client to Protect Against Tax-Related Identity Theft — Help clients take steps to secure their personal information and prevent identity theft. Tax Identity Theft Toolkit — CPA tax practitioners need to combat tax-related identity theft daily as it has become pervasive globally. Use this toolkit to tackle tax identity theft issues with your clients. Other resources Get An Identity Protection PIN (IP PIN) — An IP PIN is a six-digit number that prevents someone else from filing a tax return using your Social Security number or Individual Taxpayer Identification Number. PTIN Requirements for Tax Return Preparers — Anyone who prepares or assists in preparing federal tax returns for compensation must have a valid 2022 PTIN before preparing returns. Publication 1345, Handbook for Authorized IRS e-file Providers of Individual Income Tax Returns – This guide addresses the rules and requirements for participation in IRS e-file by authorized IRS e-file providers filing individual income tax returns and related forms and schedules. Publication 4557, Safeguarding Taxpayer Data — This guide seeks to help tax professionals to understand basic security steps and how to take them as well as recognize the signs of data theft, how to report data theft and understand and comply with the FTC Safeguards Rule. Tax Preparer Tips for Hiring a Cybersecurity Professional — The IRS provides tips for tax preparers to consider when evaluating and selecting a cybersecurity professional. Treasury Inspector General for Tax Administration (TIGTA), IRS Impersonation Scam — Fill out this online form to report an IRS impersonation scam. Note that a taxpayer may also call (800) 366-4484 to report the scam. What to Do After a Tax Professional Data Compromise — This IRS video gives steps tax professionals should take if they are the victim of a data compromise. Why Tax Professionals Need a Security Plan — In this IRS video, learn the importance of tax professionals establishing data security plan. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

From a record number of unprocessed returns to the inability to contact the IRS, these ongoing issues continue to be a problem for taxpayers and tax practitioners. The Tax Professionals United for Taxpayer Relief Coalition — a diverse group of stakeholders from the tax community including the AICPA — is taking steps to help by providing recommendations the IRS can implement now and raising the profile of the systematic issues. Hear how the IRS can do more on this Tax Section Odyssey episode where April Walker, CPA, CGMA, Lead Manager – AICPA Tax Section, is joined by Ed Karl, CPA, CGMA, Vice President – AICPA Tax Policy & Advocacy. What you’ll learn in this episode History of IRS service level issues (1.20) Steps the AICPA is taking to try to impact the current situation (3.43) What the IRS needs to be able to improve the situation (6.01) Practical recommendations and tips the IRS can take to mitigate the need for practitioners and taxpayers to contact the IRS (7.22) Upcoming events to attend for the latest updates (17.53) Will the April 18 tax deadline change? (19.12) Final thoughts from Ed (20.56) AICPA resources Is Help on the Way from the IRS for this Filing Season? — Hear how the IRS can do more in this free, one-hour webinar (no CPE credits offered) on Feb. 8, 1pm ET. AICPA Relief for Taxpayers for the 2022 Filing Season — The AICPA led a coalition of stakeholders to urge action from the IRS to mitigate anticipated challenges in the upcoming tax season. The coalition also requested a meeting with IRS officials to discuss their concerns and recommendations and directly address any questions. AICPA Town Hall Series— Bi-monthly, high-impact news broadcast series that delivers the latest news, analysis, insights and practical guidance to accounting and finance professionals and responds to pressing issues facing the profession. Press Center — The Press Center includes news and information for reporters and editors, including press releases, media advisories and other official statements from the AICPA. Tax season hub — With constant changes to the tax landscape, being prepared for tax season is critical for success. Set yourself up for a smoother filing season by tapping into the wealth of AICPA and Tax Section resources. Other resources IRS Statement — Providing meaningful assistance to taxpayers in the current environment — IRS statement on January 27, 2022 Understanding Your CP80 Notice — A notice that states credited payments and/or other credits to a taxpayer’s account for the tax period; however, the IRS hasn’t received the tax return. Due to processing delays for 2019 and 2020 tax returns, the issuance of CP80 and CP080 notices have been suspended. If a taxpayer received a notice for the 2019 return and it was filed timely, please refile the return. If a taxpayer receives a notice for the 2020 return, do not Your Online Account — Encourage your clients to sign up for an IRS online account to access their individual account information including balance, payments, tax records and more. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.