To help taxpayers take advantage of retroactive changes enacted late last year affecting Sec. 179 property and bonus depreciation, the IRS issued rules for filing returns to take advantage of these deductions.
The director of the IRS' Office of Professional Responsibility and veteran practitioners recently gave advice on how to steer clear of the dangers.
The IRS issued a procedure permitting taxpayers, in certain circumstances, to give an IRA trustee or retirement plan administrator a certification statement to treat a rollover as timely even if the taxpayer failed to complete the rollover within 60 days after a distribution.
The IRS is proposing to charge a variety of fees, based on whether the taxpayer uses the online application process and/or pays by direct debit.
The Tax Court rejected a taxpayer’s claim that, because he requested a collection due process hearing late, the 10-year collection period had expired.
Individuals whose individual taxpayer identification numbers (ITINs) will expire this year under new Code provisions may renew them starting in October.
The IRS issued rules regarding the time, manner, and form for partnerships to make the election to apply the recently enacted unified partnership audit rules for certain years before Jan. 1, 2018.
The IRS issued long-awaited proposed regulations designed to prevent taxpayers from lowering the estate and gift tax value of transferred assets.
The court held that the taxpayer was protected by the Fifth Amendment privilege against self-incrimination.
The IRS is proposing to amend the rules governing eligibility to claim a deduction or credit for eligible education expenses to conform them to recent legislative changes.
FASB issued a proposal Tuesday that would modify disclosures about income taxes that organizations are required to report on their financial statements.
The IRS finalized proposed regulations issued last year intended to make it easier for taxpayers to file their returns electronically by no longer requiring taxpayers making a Sec. 83(b) election to include a copy of the election statement with their tax return.
Employee benefit plans will face new reporting requirements under extensive changes to Form 5500, Annual Return/Report of Employee Benefit Plan, proposed by the federal government.
The IRS issued guidance that provides safe harbors for corporations, under which the IRS will not assert that a distributing corporation lacks control of another corporation within the meaning of Sec. 355(a)(1)(A).
Social welfare benefit organizations are now required to notify the Internal Revenue Service of their formation and intent to operate under Sec. 501(c)(4).
Nina Olson, the national taxpayer advocate, raised several concerns about the IRS’s use of private debt collection services in her annual report to Congress, saying the practice will hurt taxpayers and harm tax administration.
The IRS finalized regulations that implement new SEC rules that change how gains and losses in money market funds are calculated.
The IRS issued final regulations requiring the ultimate parent entity of a multinational enterprise group with revenue of $850 million or more in the preceding accounting period to file Form 8975, Country-by-Country Report.
The IRS announced that the electronic filing personal identification number (e-file PIN) tool is “no longer available” after it detected additional attacks on the system.
The IRS issued proposed regulations under Sec. 409A, which provides that if certain requirements are not met, amounts deferred under a nonqualified deferred compensation plan are currently includible in gross income.