October 2012

October 31, 2012

IRS Delays Oct. 31 Deadlines for Taxpayers and Preparers Affected by Hurricane Sandy

The IRS announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until Nov. 7 to file returns and accompanying payments normally due on Oct. 31.

October 24, 2012

FATCA Prop. Regs. Amended to Extend Various Deadlines

The IRS is delaying various FATCA-related deadlines because it has received feedback that complying with the original deadlines is difficult for some taxpayers.

October 18, 2012

IRS Announces Inflation Adjustments for 2013

The IRS released its annual revenue procedure making inflation adjustments to the gift tax annual exclusion and other items for tax years beginning in 2013.

October 15, 2012

TIGTA: IRS Pays Millions in Unnecessary Interest on NOL Carrybacks

TIGTA found that IRS delays in processing NOL carrybacks result in the IRS’s paying millions of dollars in interest unnecessarily

October 12, 2012

New Yorkers Should Act Now to File Protective Refund Claims for MTA Tax

Time is running out for taxpayers who paid New York’s metropolitan commuter transportation mobility tax when it was first imposed in 2009 to file protective refund claims in the wake of the tax’s being declared unconstitutional.

October 11, 2012

Dozens Indicted on Stolen Identity Tax Refund Fraud Charges

Federal officials in Miami announced indictments of 40 people in 20 cases for stolen identity tax refund fraud.

October 10, 2012

Whistleblower’s Claim Is Not Entitled to Tax Court Review

The Tax Court held that it could not order the IRS to reopen an individual’s whistleblower claim under Sec. 7623(b), and the court dismissed his petition.

October 4, 2012

IRS Issues Interim ITIN Procedures for 2011 Tax Returns on Extension

The IRS has posted special instructions for certifying acceptance agents to use in certifying identification documents for 2011 tax year filers who are filing on extension—returns that are due by Oct. 15, 2012.