A report from the TIGTA found that the IRS had not notified victims or the Social Security Administration of many cases it detected of employment-related identity theft.
New Procedures for Amending Returns to Claim PATH Act Depreciation Changes
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.
Due-Diligence Hazards for Tax Practitioners: The List Keeps Growing
The director of the IRS’ Office of Professional Responsibility and veteran practitioners recently gave advice on how to steer clear of the dangers.
IRS Allows Self-Certification for Late Rollovers of Retirement Plan Funds
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.
New User Fees Proposed for IRS Installment Agreements
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.
Limitation Period Not Suspended Where Taxpayer Claims He Filed Hearing Request Late
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.
IRS Issues Guidance on PATH Act ITIN Renewals
Individuals whose individual taxpayer identification numbers (ITINs) will expire this year under new Code provisions may renew them starting in October.
IRS Issues Temporary Regulations on Early Elections of New Partnership Audit Procedures
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.
Proposed Regulations Would Affect Estate Valuation Discounts
The IRS issued long-awaited proposed regulations designed to prevent taxpayers from lowering the estate and gift tax value of transferred assets.
Second Circuit Holds Taxpayer Not Subject to IRS Summons
The court held that the taxpayer was protected by the Fifth Amendment privilege against self-incrimination.
Proposed Regs. Govern Reporting and Claiming Qualified Tuition and Related Expenses
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.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
