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Taxpayers are not doing enough to protect themselves from identity theft-related tax fraud and a majority of them don’t expect it to happen to them, according to a new survey. The survey, from security company IDT911, found that 63 percent of Americans are taking an “it could never happen to me” approach and say they […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints A taxpayer has been charged with mailing a threatening communication after he responded to a notice from the Internal Revenue Service about overdue taxes by scribbling a profanity on the letter and mailing it back to the IRS. Enrique Santiago of the Bronx, N.Y., allegedly wrote, “I do not live […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Hailing the chiefs Roth Co.: On Presidents’ Day just passed, blogger Joe Kristan didn’t “care to honor presidents, as a class. They range from remarkable to vile, and they are in the end, just men with a job and great responsibility, […]
The Internal Revenue Service has been unable to get control of rampant identity theft this tax season, despite high-profile efforts to confront the problem with the help of private industry. Yesterday the IRS warned it has seen a 400 percent increase in email phishing and malware incidents this tax season aimed at both taxpayers and […]
The Internal Revenue Service is being urged to halt a security vulnerability that makes it all too easy to get an Electronic Filing PIN used by tax preparers. The IRS said earlier this month that it had identified and stopped an automated attack on its online Electronic Filing PIN application (see IRS Detects Attack on […]
The Internal Revenue Service warned Thursday it has seen a fourfold surge this tax season in email phishing and malware incidents, targeting consumers and the tax industry. John Koskinen The IRS noted the emails are designed to trick taxpayers into thinking they are official communications from the IRS or others in the tax industry, including […]
A lawsuit over the Internal Revenue Service’s fees for Preparer Tax Identification Numbers has received class-action status, according to an attorney who has been trying unsuccessfully to eliminate or reduce the PTIN fee for over four years. However, the court did not go so far as the plaintiffs would like in allowing refunds of PTIN […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has begun conducting on-site inspections of tax preparers who continue to have problems with verifying their clients’ eligibility for claiming the Earned Income Tax Credit, and warned that the penalty has increased. In an email to tax professionals last Friday, the IRS said that in keeping […]
Most Outrageous Tax Deductions of 2016 The Minnesota Society of Certified Public Accountants recently surveyed its CPA members in public accounting on the most outrageous tax deductions clients tried to take on their tax returns. The resulting list shows that, more often than not, clients just don’t know which deductions are allowed. View the slideshow
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The IRS urged tax professionals in an email Wednesday to verify their Electronic Filing Identification Number activity to safeguard against tax fraud. The IRS noted that tax preparers need to protect both their EFIN and ETIN (Electronic Transmitter Identification Number, as well as passwords, from unauthorized use. A preparer’s EFIN […]
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