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The Internal Revenue Service has launched the second year of its public awareness campaign aimed at improving taxpayer security in partnership with tax software companies, tax preparation chains and state tax authorities. John Koskinen The campaign from the IRS and its partners in its Security Summit program includes a series of security awareness tax tips, […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service Advisory Council has released its annual report for 2016 to IRS Commissioner John Koskinen, with recommendations on a wide range of tax administration issues, including the belt-tightening service’s consistency regarding penalty administration and fairness to taxpayers. The IRSAC made several recommendations in its report on a […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service’s Office of Professional Responsibility has created a new online lookup table that allows the public to find out more easily if they have hired a rogue tax practitioner. The new disciplinary look-up tool is basically just a Microsoft Excel file, but it includes searchable information about […]
The IRS has released a number of draft tax forms and instructions for the 2016 tax year on its website, including Form 1040 and its related schedules. This article, which appears in two parts, highlights key changes made on the 2016 return. The first part examined the draft Form 1040 itself. Part 2 covers related […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Like it is TaxMama: Following “a total paradigm shift in our government,” the nuts and bolts of what Trump’s plan means for changes individuals can expect in their tax lives. Hint: “a mixed bag of goodies and sillies.” […]
The IRS has released on its website a number of draft tax forms and instructions for the 2016 tax year, including Form 1040 and its related schedules. This article highlights key changes made on the 2016 return. This first part examines the draft Form 1040 itself. Part II will cover the related draft forms and […]
(Bloomberg) For Donald Trump, the presidency offers no escape from tax audits—raising the chance that the public might never see his returns. Donald Trump (Photo: Andrew Harrer/Bloomberg) As a candidate, Trump cited more than a decade’s worth of audits by the Internal Revenue Service as he refused to release any of his personal tax information. […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has removed a rule requiring that a discharge of indebtedness for which a Form 1099–C, ‘‘Cancellation of Debt,’’ must be filed occurs when a 36-month non-payment testing period expires. The IRS released final regulations Thursday removing the three-year period for filing the form. The IRS and […]
A few years ago, during the oil crisis and back when gasoline was $4.00 a gallon, a supermarket in our town offered gasoline discounts based on certain items that you bought and how much you spent in their store. My wife and I would get as many points as we could so we could get […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints (Billboard) Rick Ross is in deep trouble with the taxman. The “Hustlin’” rapper owes the Internal Revenue Service some $5.7 million in back taxes, though his team is confident the matter will be settled shortly. According to TMZ, which broke the story, Ross (aka William “Rick Ross” Roberts II) paid […]
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