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Many major tax changes go into effect this year for individual taxpayers. Many of the changes were ushered in by the Protecting Americans from Tax Hikes (PATH) Act of 2015, although legislation enacted earlier in 2015 and in 2014 also contributed a fair share. Still other changes are the result of various administrative pronouncements by […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints An influential senator is asking the Internal Revenue Service to put a system in place to track the specific sources of unpaid corporate taxes. Ron Wyden Senate Finance Committee ranking member Ron Wyden, D-Ore., wrote to IRS Commissioner John Koskinen urging the IRS to establish such a system in advance […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has again delayed the deadline for reporting the basis of property distributed from the estate of a decedent until March 31. Notice 2016-19 provides that statements required under section 6035 of the tax code, regarding the basis of property distributed from the estate of a decedent, […]
The Internal Revenue Service nearly doubled the amount of money it paid to tax whistleblowers last year and is taking steps to make the process move faster. Lee Martin A new report from the IRS Whistleblower Office indicated the total amount of awards paid in fiscal year 2015 increased to $103,486,677 from over $52,281,628 in […]
An Internal Revenue Service employee who worked for the Taxpayer Advocate Service, where her job was to help taxpayers resolve their identity theft problems, pleaded guilty to stealing identities and orchestrating a tax-fraud scheme involving up to $1.5 million in fraudulent income tax returns. Nakeisha Hall, 39, entered her guilty pleas Monday before U.S. District […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Two little words Mauled Again: Just two words for the IRS in the wake of its processing systems recently (and maybe a little mysteriously) becoming “unavailable.” One of the words is “back.” The other is “ups.” Backtaxeshelp: People […]
The Treasury Department’s inspector general is pressing the Internal Revenue Service in a new report to improve its procedures for direct debt installment agreements to avoid taxpayer defaults. The report, from the Treasury Inspector General for Tax Administration, noted that direct debit installment agreements give taxpayers a convenient way to make payments on their installments […]
(Bloomberg) For several years, researchers have been sending people into tax preparation offices to test the quality of the work. The results have been scary: • A tax preparer in North Carolina wasn’t sure what to do with one client’s dividend income form. She decided to just ignore it. • At a major tax prep […]
The Internal Revenue Service said Tuesday evening that it recently identified and halted an automated attack upon its Electronic Filing PIN application on IRS.gov. John Koskinen Using personal data stolen elsewhere outside the IRS, identity thieves used malware in an attempt to generate E-file PINs for stolen Social Security Numbers, according to the IRS. The […]
The Internal Revenue Service has issued inflation adjustments for several tax breaks involving schoolteacher expenses, transit fringe benefits and Section 179 expensing of certain depreciable assets. In Rev. Proc. 2016-14, the IRS provides inflation adjustments for items due to the enactment of the Protecting Americans from Tax Hikes Act (PATH Act) of 2015, the tax […]
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