document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service is urging taxpayers to choose their tax preparer carefully, warning that some unscrupulous preparers are pocketing their individual health coverage payments under the Affordable Care Act. “In some cases, these preparers were instructing their clients to make individual shared responsibility payments directly to that preparer,” said […]

Read More »

document.createElement(‘aside’); http://www.accountingtoday.com More than a dozen Internal Revenue Service employees misused their government-issued charge cards, but the extent of the confirmed purchases totaled less than $600, while another case of potential misuse totaled less than $2,350, according to a new report. The report, from the Treasury Inspector General for Tax Administration, found the IRS properly […]

Read More »

American Institute of CPAs president and CEO Barry Melancon said the AICPA is pushing the Internal Revenue Service to improve its services for both taxpayers and CPAs while preparing to become a more international organization. Barry Melancon During a wide-ranging speech Tuesday in New York at a meeting of the Accountants Club of America, Melancon […]

Read More »

The Internal Revenue Service is facing a fresh backlash from Congress after destroying a hard drive from a former employee whose documents were subject to a legal investigation. The hard drive belonged to Samuel Maruca, formerly the director of transfer pricing of the IRS’s Large Business and International Division. Last week, the IRS admitted it […]

Read More »

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, […]

Read More »

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 […]

Read More »

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. […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »