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(Bloomberg) For several years, researchers have been sending people into tax preparation offices to test the quality of the work. The results have been scary: • A tax preparer in North Carolina wasn’t sure what to do with one client’s dividend income form. She decided to just ignore it. • At a major tax prep […]
The Internal Revenue Service said Tuesday evening that it recently identified and halted an automated attack upon its Electronic Filing PIN application on IRS.gov. John Koskinen Using personal data stolen elsewhere outside the IRS, identity thieves used malware in an attempt to generate E-file PINs for stolen Social Security Numbers, according to the IRS. The […]
The Internal Revenue Service has issued inflation adjustments for several tax breaks involving schoolteacher expenses, transit fringe benefits and Section 179 expensing of certain depreciable assets. In Rev. Proc. 2016-14, the IRS provides inflation adjustments for items due to the enactment of the Protecting Americans from Tax Hikes Act (PATH Act) of 2015, the tax […]
A former Internal Revenue Service revenue agent is facing trial this week for soliciting and receiving a bribe from the owner of a Seattle marijuana dispensary. Paul G. Hurley was charged last September with soliciting and agreeing to receive a bribe by a public official and two counts of receiving a bribe by a public […]
The Internal Revenue Service needs to have better processes in place to administer its federal unemployment tax program, according to a new report. The report, from the Treasury Inspector General for Tax Administration, evaluated whether the IRS’s Certification Program for the Federal Unemployment Tax Act, or FUTA, ensures the accuracy of FUTA credit claims. FUTA […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has issued the maximum vehicle values for 2016 that taxpayers need to determine the value of personal use of employer-provided vehicles. The vehicle value is used under the special valuation rules provided under section 1.61–21 (d) and (e) of the Income Tax Regulations, which apply to […]
(Bloomberg) The Internal Revenue Service still hasn’t said what caused some of its systems to shut down last Wednesday, but the agency’s processing functions—including e-filing—were restored by last Thursday evening. The cause of the system failure didn’t appear to involve hackers, said a person familiar with the matter, who asked not to be identified because […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service said it resumed processing individual and business tax returns at approximately 5 p.m. Thursday following resolution of its system outage. Many of the tools and applications came up earlier on Thursday morning, including “Where’s My Refund” on IRS.gov. The systems had been down since Wednesday (see […]
A large number of important tax changes go into effect this year. 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 the IRS. This […]
The Internal Revenue Service’s new security measures this tax season to counter identity theft and tax fraud appear to be having little impact so far on criminals, according to a security expert who monitors the online chat rooms where fraudsters swap taxpayers’ sensitive personal and financial information. SecurityScorecard, a computer security service based in New […]
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