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A former Internal Revenue Service revenue agent is facing trial this week for soliciting and receiving a bribe from the owner of a Seattle marijuana dispensary. Paul G. Hurley was charged last September with soliciting and agreeing to receive a bribe by a public official and two counts of receiving a bribe by a public […]
The Internal Revenue Service needs to have better processes in place to administer its federal unemployment tax program, according to a new report. The report, from the Treasury Inspector General for Tax Administration, evaluated whether the IRS’s Certification Program for the Federal Unemployment Tax Act, or FUTA, ensures the accuracy of FUTA credit claims. FUTA […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has issued the maximum vehicle values for 2016 that taxpayers need to determine the value of personal use of employer-provided vehicles. The vehicle value is used under the special valuation rules provided under section 1.61–21 (d) and (e) of the Income Tax Regulations, which apply to […]
(Bloomberg) The Internal Revenue Service still hasn’t said what caused some of its systems to shut down last Wednesday, but the agency’s processing functions—including e-filing—were restored by last Thursday evening. The cause of the system failure didn’t appear to involve hackers, said a person familiar with the matter, who asked not to be identified because […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service said it resumed processing individual and business tax returns at approximately 5 p.m. Thursday following resolution of its system outage. Many of the tools and applications came up earlier on Thursday morning, including “Where’s My Refund” on IRS.gov. The systems had been down since Wednesday (see […]
A large number of important tax changes go into effect this year. Many 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 the IRS. This […]
The Internal Revenue Service’s new security measures this tax season to counter identity theft and tax fraud appear to be having little impact so far on criminals, according to a security expert who monitors the online chat rooms where fraudsters swap taxpayers’ sensitive personal and financial information. SecurityScorecard, a computer security service based in New […]
Ninety percent of the records in the Internal Revenue Service’s Excess Collection File represent $4.75 billion in credits to which taxpayers no longer have a legal claim, according to a new government report. The report, from the Treasury Inspector General for Tax Administration, found that since January 2010, the XSF has grown from $4.7 billion […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Fa la la la The Wandering Tax Pro: Where did the year go? “The Twelve Days of Tax Season” are again upon us (“On the twelfth day of tax season my client got from me: a finished tax […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints A startup is trying to reduce the amount of time taxpayers spend on hold with the Internal Revenue Service this tax season. Andrew Valiente The company, enQ Inc., launched its service last Wednesday. “We call the IRS, and sell our place on hold to our customers,” said Andrew Valiente, founder […]
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