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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Treasury Inspector General for Tax Administration issued an alert Friday warning that it has received information that callers impersonating IRS employees or the Treasury Department are demanding payments on iTunes Gift Cards. TIGTA noted that the scam callers may also request payment of taxes on Green Dot Prepaid Cards, […]
The Senate Finance Committee passed legislation Wednesday to protect taxpayers from identity theft and tax fraud, but without a provision for regulating tax preparers. Ron Wyden The legislation, known as the Taxpayer Protection Act of 2016, includes provisions such as providing a sole point of contact for identity theft victims to help them recover their […]
The Internal Revenue Service’s expanded use of controls this tax season to identify fraudulent refund claims before accepting them into its processing system has allowed the IRS to identify approximately 35,000 fraudulent e-filed tax returns and 741 paper tax returns as of Feb. 29, 2016, according to a new government report. The report, from the […]
The House passed a bill Thursday prohibiting bonuses for IRS employees until the Treasury develops a better customer service strategy, the last of six bills passed this week affecting IRS bonuses, hiring practices and policies. Kevin Brady H.R. 4890, the IRS Bonuses Tied to Measurable Metrics Act, sponsored by Rep. Pat Meehan, R-Pa., would prohibit […]
The House Ways and Means Oversight Subcommittee held a hearing Tuesday on the 2016 filing season and the Internal Revenue Service’s cybersecurity efforts. John Koskinen “I am pleased to report that the 2016 filing season has gone smoothly in terms of tax return processing and the operation of our information technology systems,” IRS Commissioner John […]
(Bloomberg) Uh-oh. You messed something up on your tax return. What now? Audits alone found an additional $25 billion in taxes owed last year, half of that from individual returns. Budget cuts at the Internal Revenue Service have made it harder for the agency to spot mistakes and evasions, but worst-case scenarios include a financial […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. “Filer up!” Tax Policy: A breakdown of each candidate’s plans to change the Tax Code. Some ideas are small and others very far from such. Analysis and note of a new simple tax calculator to help sort out […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has added eight delivery services that qualify as “private delivery services” for mailing tax documents and payments on a timely basis. Section 7502(f) of the Tax Code authorizes the Treasury to designate certain private delivery services for treatment under the timely filing and paying rule. In […]
Internal Revenue Service Commissioner John Koskinen defended the IRS’s cybersecurity efforts during a contentious congressional hearing Thursday on the IRS’s ability to protect taxpayer systems. John Koskinen “Securing our systems and taxpayer data continues to be a top priority for the IRS,” Koskinen said during a hearing before the House Science Committee’s Subcommittee on Research […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Woo-hoo The Tax Times: How the “Panama Papers,” referring to the recent hemorrhage of some 11 million documents from a big Panamanian law firm, ignited global requests from officials from around the world to convene a special meeting […]
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