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Missouri storm victims now have until May 16 to file their returns and pay any taxes due, according to the Internal Revenue Service. All workers assisting in relief activities who are affiliated with a recognized government or philanthropic organization also qualify for relief. Following the recent Federal Emergency Management Agency disaster declaration for individual assistance, […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Little extras Due Diligence: In this week’s collection: “Illinois Sends Couple to Prison in Public Corruption Case”; “Key Shale Bond Indicator Hits Record – Bad for Investors”; “Attn. Clayton Homes, Vanderbilt Mortgage Insiders!”; “Nikolai Battoo Told to Pay […]
A large number of important tax changes go into effect this year for businesses. Many were ushered in by the Protecting Americans from Tax Hikes (PATH) Act of 2015, although legislation enacted earlier in 2015 and in 2014 also contributed a fair share. Still other changes are the result of various administrative pronouncements by IRS. […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service is urging all tax preparers to do a thorough security scan of their computer drives and devices in case there is any malware lurking. The IRS said Thursday it is seeing multiple email phishing scams this year—some posing as the IRS—targeting tax preparers. These scams are […]
The Internal Revenue Service warned authorized electronic filing providers Tuesday that they should not submit electronic tax returns to the IRS before receiving all Forms W-2, W-2G, and 1099-R from taxpayers. In an email to tax professionals, the IRS said that if taxpayers are unable to secure and provide a correct Form W-2, W-2G, or […]
The Internal Revenue Service is reducing the number of people who serve on its Advisory Committee on Tax Exempt and Government Entities and changing the committee’s focus. The committee, known as ACT for short, currently has 21 members, but the IRS said Tuesday it will not be filling six upcoming vacancies, decreasing the number of […]
The Treasury Inspector General for Tax Administration is urging taxpayers and practitioners to be on “high alert” about a massive telephone fraud scam being committed by criminals impersonating Internal Revenue Service employees. J. Russell George TIGTA also announced additional outreach efforts to prevent taxpayers from falling victim to criminals who pretend to be IRS and […]
The Internal Revenue Service launched the tax-filing season Tuesday, promising better taxpayer and practitioner service, although a labor union official representing IRS employees warned there could still be problems. John Koskinen After five straight years of budget cuts, Congress increased the IRS’s fiscal year (FY) 2016 budget by $290 million over last year’s level, specifying […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The IRS and Free File Alliance have unveiled Free File with many changes and updates for 2016, including more free state return options and easier Form W-2 imports. For 2016, 13 tax software providers will make their federal tax return products available for free to eligible taxpayers. Taxpayers whose adjusted […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Regs and those who love them The Tax Times: Give and It Might Hurt Dept.: A look at the IRS recently withdrawing proposed regulations that would have given nonprofits the option of reporting the names and Social Security […]
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