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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Tax professionals can earn CPE credits online through seminars filmed at the 2016 IRS Nationwide Tax Forums, the service announced. The three-day forums provided up-to-date information on federal and state tax issues, and were held in five cities across the country earlier this year. More than a dozen self-study seminars […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Hurricane Matthew victims in much of North Carolina and parts of South Carolina, Georgia and Florida have until March 15 to file certain individual and business tax returns and make certain tax payments, the IRS said. This includes an additional filing extension for those with valid extensions that run out at […]
The Treasury Department and the Internal Revenue Service have released final regulations on earnings stripping in an effort to reduce the tax benefits of corporate inversions. Jacob Lew The final regulations limit the ability of companies to lower their taxes by using transactions involving debt that do not support new investment in the U.S. The […]
(Bloomberg) The U.S. Treasury Department softened new rules aimed at preventing multinational companies from shifting their profits offshore to lower-tax countries—a response to sustained criticism from big business and from members of Congress, who had asked that they be delayed and scaled back. The rules, first proposed in April, aim to restrict lending among subsidiaries […]
The Internal Revenue Service is postponing a security upgrade to its e-Services for tax professionals in a new setback for the agency. The IRS said in an email to tax professionals Friday that a new implementation date for the security upgrade has not been set. Last month, the IRS told tax professionals they would need […]
The Treasury Department and the Internal Revenue Service have released final regulations on earnings stripping in an effort to reduce the tax benefits of corporate inversions. Jacob Lew The final regulations limit the ability of companies to lower their taxes by using transactions involving debt that do not support new investment in the U.S. The […]
In the wake of Hurricane Matthew, the Internal Revenue Service has released new rules and procedures for deducting disaster losses. Revenue Procedure 2016-53 contains rules and procedures for the election under Section 165(i) of the Tax Code to deduct a disaster loss for the taxable year immediately preceding the taxable year in which the disaster […]
The Internal Revenue Service allowed over $27.2 million in potentially wrong tax refunds or tax credits to 1,938 taxpayers who made so-called “frivolous tax arguments,” according to a new report. J. Russell George Frivolous tax arguments are claims based on incorrect interpretations of the Tax Code to avoid paying taxes or get money from the […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Emotional rescue IRS Tax Trouble: Tishkoff v. Commissioner: emotional distress, personal physical sickness that resulted in emotional distress and the sizeable tax differences between the two. Tax Analysts: It took a lot of requestin’ in the public records […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The IRS is sending due diligence letters to paid preparers who may be noncompliant in meeting their Earned Income Tax Credit due-diligence requirements. These letters are sent to raise awareness of questionable returns and remind paid preparers of their due-diligence requirements. The IRS will continue to monitor the EITC returns […]
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