Stay informed with our latest insights and expert outlook from our team at Protection Plus. In this article, take a deeper dive into topics highlighted in our August News Roundup. We look at the new Multi-Factor Authentication mandate from the IRS and the actionable steps for tax professionals to take next. We also touch on interest rate updates and provide helpful reminders for schoolteacher deductions.

Stay informed with our latest insights and expert outlook from our team at Protection Plus. In this article, take a deeper dive into topics highlighted in our July News Roundup. We explore the CrowdStrike outage and its lessons on the importance of strong IT contingency plans. We also discuss new warnings from the Security Summit about phishing emails and cloud-based attacks, look at recent IRS crackdowns and more!

The importance of cybersecurity is crucial. Some businesses have the necessary procedures and tools to handle cyberattacks, while others are not as fortunate. Read more to take a look at a company that experienced a cyberattack and how it was affected. This real-world example highlights the critical need for robust cybersecurity measures to protect against such evolving and sophisticated threats.

The year 2023 brought many changes in the world, and the tax world was no exception. Many states have been making significant changes in response to IRS changes and are preparing for future adjustments. One trend we have seen across the board is an uptick in Schedule C Audits. This rise in audits is primarily due to the IRS doubling its investigatory efforts of deduction abuse.

The landscape of digital assets is rapidly evolving, and with the IRS stepping up its enforcement efforts, tax professionals are likely to encounter an uptick in tax notices related to cryptocurrency underreporting. While cryptocurrencies and digital assets are not new concepts, the complexities surrounding taxable events and ...