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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The IRS is looking for applicants for vacancies on its Advisory Committee on Tax Exempt and Government Entities, which provides a venue for public input on relevant areas of tax administration. There are vacancies in the following customer segments: federal, state and local governments; Indian tribal governments; and employment tax […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service generally recovers computers from departing employees, according to a recent report – but that might just be luck. The report, from the Treasury Inspector General for Tax Administration, was based on an audit conducted to determine whether IRS management implemented policies and procedures designed to provide […]
The Internal Revenue Service does not notify taxpayers it identifies as victims of employment-related identity theft and has not established an effective process to send the required notice to the Social Security Administration to alert it of earnings not associated with these victims, the Treasury Inspector General for Tax Administration found. Taxpayers may first realize […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has modified a policy it instituted earlier this year on not providing letter rulings or determination letters on certain tax questions related to distributions of stock of controlled corporations and will now provide them in two specific areas. Revenue Procedure 2016-45 modifies Rev. Proc. 2016-3, which […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has released new guidance for taxpayers making certain elections and filing amended returns to take advantage of the tax extenders in last December’s PATH Act for bonus depreciation. In Revenue Procedure 2016-48, the IRS noted the PATH Act of 2015 generally extends the application of the […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service is closing off admission to a program that allows large corporations to discuss and resolve their tax issues with the IRS before filing their tax returns, due to budget constraints. The IRS said Friday no new taxpayers will be accepted into its Compliance Assurance Process program […]
(Bloomberg) U.S. House conservatives are set to re-launch next month their effort to impeach Internal Revenue Service Commissioner John Koskinen, with or without Speaker Paul Ryan’s go-ahead. John Koskinen (Photo: Andrew Harrer/Bloomberg) Representative John Fleming says he and other conservatives are prepared to unilaterally force an impeachment vote within days after Congress returns to session […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Timing is everything Tax Vox: The Tax Policy Center’s new series Tax Line, “which digs into the data behind the day’s most pressing tax policy issues,” looks at how health-care subsidies disproportionately benefit high-income households. Federal Tax Crimes: A […]
The Internal Revenue Service and the Treasury Department are providing new guidance on the requirements for professional employer organizations seeking voluntary certification, relaxing some of the original requirements for submitting written opinions and attestations from CPAs. In May, the IRS proposed temporary regulations for a new voluntary certification program for PEOs, in accordance with a […]
The Internal Revenue Service is offering a safe harbor for businesses using property that has been financed with tax-exempt bonds. Revenue Procedure 2016-44 provides safe harbor conditions under which a management contract does not result in private business use of property financed with governmental tax-exempt bonds under Section 141(b) of the Tax Code or cause […]
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