document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has issued guidance on the tax treatment of litigation costs and attorney fees, particularly when there is pro bono representation. Revenue Procedure 2016-17 provides guidance regarding the recovery of administrative and litigation costs by individuals and organizations that provide pro bono representation to taxpayers. Section 7430 […]

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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Federal income tax refunds totaling $950,349 are waiting for an estimated 1 million taxpayers who did not file a federal income tax return for 2012. To collect, these taxpayers must file a 2012 federal return no later than this year’s April deadline. “We especially encourage students and others who didn’t […]

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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Department of the Treasury has approved 32 new members to serve on its nationwide Taxpayer Advocacy Panel. The TAP is a federal advisory committee charged with providing taxpayer suggestions to improve IRS customer service. The new members will join 41 returning members to round out the panel of 73 […]

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The Internal Revenue Service will be making some changes in the due dates next year for several types of business tax returns, which should give accountants a little extra breathing room. “In general I think most CPAs are looking forward to the changes,” said Texas Society of CPAs chair Allyson Baumeister, who is also a […]

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(Bloomberg) The Internal Revenue Service is seeking to force UBS Group AG to turn over records on an account in Singapore held by a U.S. citizen, potentially opening a new front against offshore tax evasion beyond Switzerland. The IRS last month asked a federal judge in Miami to force UBS, the largest Swiss bank, to […]

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The Internal Revenue Service’s delays in processing taxpayer correspondence are lengthening, leading to delayed tax refunds and bigger interest payments from the IRS, according to a new report. J. Russell George The report, from the Treasury Inspector General for Tax Administration, found inconsistent use of “over-age” correspondence lists by some managers at the IRS causes […]

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The Internal Revenue Service has temporarily suspended the Identity Protection PIN tool on its website after security vulnerabilities were discovered in the service, which is intended to help victims of identity theft. Last week, reports emerged that a number of identity theft victims who had received IP PINs from the IRS found out that someone […]

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A group of mostly conservative public policy organizations have sent a letter to members of the House of Representatives asking them to oppose legislation that would require licensing of paid tax preparers. The bill, known as the Tax Return Preparer Competency Act, was introduced last December by Rep. Diane Black, R-Tenn., and Pat Meehan, R-Pa. […]

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The Internal Revenue Service needs to improve the management of its backup and restoration process, according to a new report. J. Russell George The report, from the Treasury Inspector General for Tax Administration, examined the IRS’s Tier II Environment Backup and Restoration Process, which protects important data saved on its computer systems. TIGTA evaluated the […]

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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Happy returns? Tax Analysts: “There are plenty of good reasons why taxpayers under audit might want to keep their returns private. If audited returns are made public, the audit itself becomes a public process. And that’s likely to […]

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