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The Internal Revenue Service spent $10.71 million on guns, ammunition and other military-style equipment from fiscal year 2006 to FY 2014, according to a new report. The report, from an advocacy group known as American Transparency, describes the spending by various non-military federal agencies, including the IRS, the Environmental Protection Agency, and the Animal and […]
The summer has started and summer camp bills have been paid. Summer camp is a great way to keep our children busy and looked after while we are working. But it comes at a steep price. Summer camp costs are, on average, about $300 per week. And for our children who are graduating from high […]
Internal Revenue Service employees file more than 800 new injury claims each year, according to a new report. The report, from the Treasury Inspector General for Tax Administration, found the majority of IRS employee injuries can be attributed to accidents such as slips, trips and falls. For most of the accidents, the IRS can do […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Mother lodes Mauled Again: Life holds few moments more exciting than moving in together, except maybe actually buying the home together. Life holds other exciting moments, too, such as the recent case Jackson v. Comr., which demonstrated why couples […]
The Internal Revenue Service has released new guidance on how foreign financial institutions can enter into a Qualified Intermediary agreement with the U.S. under the Foreign Account Tax Compliance Agreement, or FATCA. Denise Hintzke Notice 2016-42, released earlier this month, outlines the proposed QI agreement, which revises and updates the current agreement in Rev. Proc. […]
The Internal Revenue Service sent notices of federal tax liens to old addresses of some taxpayers even when it had a more current address, according to a new report. The report, from the Treasury Inspector General for Tax Administration, is an annual report on the IRS’s compliance with due process procedures for federal tax liens. […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has restored the online “Get an IP PIN” service after fixing security vulnerabilities in the tool for giving identity theft victims an Identity Protection Personal Identification Number. The IRS suspended the service in the midst of tax season this year after discovering that several identity theft […]
National Taxpayer Advocate Nina Olson’s Objectives Report to Congress, delivered in early July, continued her examination of the Internal Revenue Service Future State plan, which she initially cited in her 2015 Annual report to Congress as the “No. 1 Most Serious Problem” for taxpayers. NTA Nina Olson The Future State plan of the IRS envisions […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. At your Service Taxable Talk: A lucky guy from a country that has no tax treaty with the U.S. won $100,000 in a recent World Series of Poker. The hosting casino withheld 30 percent of that for the […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has released a revenue procedure providing two safe harbors for corporate acquisitions. In Revenue Procedure 2016-40, the IRS outlined two fact patterns under which it will not assert that a corporation lacks the requisite “control” for purposes of Section 355(a) of the Tax Code when a […]
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