The IRS issued a notice that provides the requirements for a payee to make an election to not have the safe harbor for de minimis errors on information returns below certain amounts apply to a payer.
The IRS ruled that amounts received by a REIT from the provision of parking spaces in its garage constitute qualifying rents from real property.
This item summarizes some common IRS penalties and the procedural and practical ways practitioners can obtain a penalty abatement.
IRS described how it will expand its security efforts for 2017.
The revised procedures are driven by a desire to clarify procedures for taxpayers, to better allocate IRS resources, and to get the right work to the right Appeals employee.
The application of the business purpose and device rules often involves both legal and factual questions.
IRS issued the annual inflation adjustments for 2017 for more than 50 tax provisions as well as the 2017 tax rate tables for individuals and estates and trusts.
With LB&I’s reorganization, the unknown is whether there will be a greater focus on midmarket taxpayers.
A TIGTA report concluded that the IRS’s lax enforcement of backup withholding requirements is potentially causing billions of dollars in lost revenue.
Recent legislation added these requirements, which previously applied only to the earned income tax credit.
The IRS has launched an online tool that allows individual taxpayers to get their account balances online, including tax due, penalties, and interest.
Taxpayers will receive additional information relating to bond premiums on Forms 1099-INT and 1099-OID.
Business travelers have new per-diem rates to use in substantiating certain expenses.
The IRS self-certification procedure allows taxpayers who fail to meet the 60-day rollover requirement to claim eligibility for a waiver.
Private debt collection companies will start working to collect overdue tax liabilities in spring 2017.
As part of its latest efforts to prevent cybercrime, the IRS said it will begin sending letters to currently registered e-Services users asking them to re-register within 30 days of the date of the letter or risk being shut out of the system.
The rules, which go into effect April 1, 2017, apply to IRS examiners from the Tax Exempt/Government Entities division and specify best practices in issuing information document requests in the course of an audit.
In response to concerns from employers, insurers, and other providers of minimum essential coverage, the Internal Revenue Service announced that it is extending the due dates for certain health care forms required under the Patient Protection and Affordable Care Act.
IRS Commissioner John Koskinen reassured tax practitioners attending the AICPA’s National Tax Conference that the 2017 tax filing season should start on time.
The IRS issued an “urgent alert” to tax practitioners who use IRS e-services to beware of a fraudulent email asking them to update their accounts and directing them to a fake website.