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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Victims of recent storms in Mississippi have until May 16 to file returns and pay any taxes due, the IRS said. All workers assisting the relief who are affiliated with a recognized government or philanthropic organization also qualify for relief. Following the recent disaster declaration for individual assistance from […]
Having played golf once in my life during my days at Ft. Bragg, N.C., I’m not exactly an avid golfer. But as two golf courses in North Carolina discovered last month, it’s getting tougher for them to successfully claim a charitable contribution deduction for a conservation easement. In Atkinson et al. v. Commissioner of Internal […]
The Internal Revenue Service has dropped a proposed regulation giving tax-exempt organizations the option of providing the Social Security Numbers of their donors. Pat Roberts The rule, which the IRS and the Treasury Department proposed last September, called on charities to ask for additional personal donor information, including Social Security numbers for any donation of […]
(Bloomberg) Former billionaire entrepreneur Samuel Wyly’s “difference of opinion” with the Internal Revenue Service could turn an offshore fortune into an onshore fraud if the agency gets its way. Wyly, 81, and the estate of his late brother Charles joined forces for a trial Wednesday against the IRS in Dallas, seeking to wipe out the […]
National Taxpayer Advocate Nina E. Olson released her 2015 annual report to Congress on Wednesday, focusing on her concern that the IRS may be on the verge of dramatically scaling back telephone and face-to-face service it has provided for decades. Nina Olson Olson characterized the combination of reductions in personal service and the IRS’s plans […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service said Tuesday that taxpayers are receiving letters with the wrong date listed for their Identity Protection Personal Identification Numbers, which are generally issued to victims of tax-related identity theft. “Due to an error, taxpayers are receiving Identity Protection PIN letters with an incorrect year listed,” the […]
An employee who worked in the IRS’s Taxpayer Advocate Service at a job assisting identity theft victims has instead been charged with running a $1 million identity theft tax fraud scheme. Federal officials announced arrests and charges last month against four people accused of participating in the scheme, including Nakeisha Hall, 39, an IRS employee […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. In with the new Taxable Talk: Soon it’ll be time for noisemakers, champagne, confetti and the announcement of the 2015 Tax Offender of the Year. The latter isn’t easy to earn and takes, beyond fudging a 1040, “Bozo-like […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The IRS has extended the exclusion from gross income for identity-protection services provided by employers. In Announcement 2016-02, the IRS extended the guidance provided in Announcement 2015-22 to include ID-protection services provided to employees or other individuals before a data breach occurs. In August, the IRS announced that the value of […]
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