Budget Sequestration Reduces Some Credits and Awards
1. Budget Sequestration Reduces Some Credits and Awards Federal budget sequestration has resulted in required cuts to certain credits and awards, effective March 1. These required cuts include a reduction to the refundable portion of the Small Business Health Care Tax Credit for certain small tax-exempt employers, a reduction in award payments to whistleblowers, and a reduction to refundable credits applicable to certain qualified bonds.
2. IRS Accepting All 2012 ReturnsThe Internal Revenue Service has finished updating its tax-processing systems, allowing all remaining individual and business taxpayers to file their 2012 federal income tax returns. 3. IRS Nationwide Tax Forums Open for Registration Join tax professionals from across the country for three days of the latest tax law information, hands-on workshops and exhibits of new products and services. Take advantage of this opportunity to receive up to 18 CPE credits, network with your peers, and learn from subject matter experts from the Service as well as from our national association partners.