The Internal Revenue Service is lowering the threshold for taxpayers who wish to qualify for relief from penalties on 2018 federal income tax withholding and estimated tax payments. The agency reduced the threshold for penalties on underpayment to 80 percent of tax liabilities. 

Two Philadelphia, Pa., tax preparers have been accused of buying and selling personal identifying information of children to claim as dependents on tax returns. Nvahbulai Quisiah and Gofin Kosia, both 43 years old, each face six counts of aggravated identity theft. They have also each been charged on 17 counts of aiding and assisting in the preparation and filing of a false tax return and six counts of wire fraud.

Crowe has introduced a lease accounting application for government entties. The Crowe Lease Accounting Optimizer for public sector tool helps these organizations track, account and report on lessee and lessor leases to comply with Governmental Accounting Standards Board (GASB) Statement No. 87.