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Wolters Kluwer Tax Accounting said it has been selected by the Internal Revenue Service to provide tax law and expert guidance and analysis handbooks to support the IRS staff in their research responsibilities. The IRS is supplying its agents and other staffers throughout the country with several Wolters Kluwer tax publications, including the 2016 Winter […]
Many of the special personal identification numbers given out by the Internal Revenue Service to protect victims of identity theft may have been stolen, according to a security research site. The site Krebs on Security reported Tuesday that a South Dakota CPA, Becky Wittrock, had her Identity Protection PIN stolen. She works as CFO at […]
With cases of identity theft and tax fraud increasing almost exponentially, tax preparers should educate their clients about the dangers they face in having their information compromised, according to executives at several credit monitoring and identity protection services. Consumers are increasingly aware that they are potential targets of tax-related fraud, observed Mike Bruemmer, vice president […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has followed up on the Obama administration’s opening of diplomatic relations with Cuba by releasing a new revenue ruling that removes certain restrictions on income earned in Cuba. The previously applicable restrictions denied a foreign tax credit for income taxes paid to Cuba and disallowed deferral […]
The Internal Revenue Service issued an alert Tuesday to payroll and human resources professionals to beware of an emerging phishing email scheme that purports to come from company executives and requests personal information on employees. John Koskinen The IRS said it has learned this scheme—part of the surge in phishing emails seen this year—already has […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Farmers and fishermen who chose to forgo making quarterly estimated tax payments for 2015 generally must file their 2015 federal return and pay any tax due by Tuesday, March 1. Taxpayers with income from a farming or fishing business can sometimes avoid making estimated tax payments by filing a return […]
(Bloomberg) Donald Trump’s disclosure that his tax returns have been under review by the Internal Revenue Service for the past 12 years reflects a “very unusual” level of scrutiny by tax authorities, according to a former Internal Revenue Service agent who now works as an accountant for wealthy people. Donald Trump (Photographer: Gary Coronado/Pool via […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has released a new guide for auditors in its Large Business and International division outlining a new examination process for big businesses. Publication 5125, the LBI Examination Process, was posted online last week and will take effect May 1, 2016. The publication outlines a new process […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Tricky questions Tax, Society Culture: A look at the new Model Income Tax Treaty (“Now With Kill-Switches!”). It’s the baseline text the Treasury Department uses when it negotiates tax treaties, last updated a decade ago and that now […]
The Internal Revenue Service said Friday that an investigation into last year’s data breach in the online Get Transcript application revealed it affected hundreds of thousands more taxpayers than originally believed. John Koskinen Last May, the IRS revealed that identity thieves had used the online application to access the tax returns of 104,000 taxpayers (see […]
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