Fiscal 2023 tax provisions also would increase IRS funding, encourage domestic business investments, and repeal many fossil fuel tax preferences.
Advertisement
News
BBA partnership audits show high no-change rate, TIGTA says
The Treasury Inspector General for Tax Administration recommends setting goals and benchmarks for the centralized audit regime under the Bipartisan Budget Act.
Various exempt organization notices paused
Citing processing delays, the IRS suspends 10 late-filing notices to tax-exempt organizations.
IRS reproposes unified plan rule exception for multiple-employer plans
Proposed regulations provide an exception from the “unified plan rule” for multiple-employer plans consistent with the SECURE Act and give guidance on how to implement the exception.
TIGTA: IRS inefficiencies worsened backlog
An audit by the Treasury Inspector General for Tax Administration recommends improvements in staff deployment, equipment and procedures.
Individual taxpayers must answer cryptoasset question, IRS notes
Front and center on Form 1040 is whether taxpayers had a virtual currency transaction.
Commissioner to Congress: IRS will clear backlog by year’s end
Testifying before a House subcommittee, Charles Rettig describes progress in meeting lingering pandemic challenges.
TIGTA: IRS beset by processing backlogs, hiring lags in 2021
A review by the Treasury Inspector General for Tax Administration assessed the IRS’s 2021 performance, customer service issues and administration of tax law changes.
Auto depreciation limits leap with inflation
The Internal Revenue Service issued its annual inflation-adjusted update of depreciation limitations for passenger automobiles, including passenger vans and trucks, placed in service in 2022.
IRS waives estimated-tax penalties for farmers and fishermen
The IRS, citing earlier problems e-filing a new form reporting S corporation owners’ basis, has granted relief to certain farmers and fishermen who missed their March 1 filing deadline.
Congress to hear from IRS commissioner on filing season
AICPA President and CEO Barry Melancon welcomes Charles Rettig’s testimony, urges additional taxpayer relief.
IRS direct-hiring 5,000 in service centers
The IRS will hold in-person and virtual “hiring events” this month to begin filling positions in three service centers.
New, lower Form 1099-K threshold prompts cautions, criticisms
The new, lower $600 reporting threshold for reporting credit card and cash payment app transactions will likely lead to problems for taxpayers and payment settlement entities, the Taxpayer Advocate Service warns.
IRS to fast-track 10,000 hirings to address backlog
Direct-hire authority will allow the Internal Revenue Service to more quickly reinforce its return processing and account management functions.
National taxpayer advocate to CPAs: Tell us where the challenges are
CPAs and other tax professionals can help the Taxpayer Advocate Service identify the most acute problems within the IRS.
AICPA again asks IRS to delay K-2/K-3 reporting
Comment letters from the AICPA and state CPA societies also offer further recommendations.
Proposed regulations update RMDs for SECURE Act changes
The regulations governing required minimum distributions from retirement plans would be updated to reflect various recent statutory changes under proposed regulations released on Wednesday.
IRS offers alternative to facial recognition
A short-term option involves a virtual interview with IRS personnel to authenticate taxpayers’ and practitioners’ identities for online services.
AICPA testifies to Congress on IRS service problems
In a hearing, the Senate Finance Committee heard recommendations from the AICPA’s Jan Lewis and National Taxpayer Advocate Erin Collins.
Tax pros are subject of ‘spearphishing’ attacks
Bogus emails may impersonate the IRS or tax software providers. Here’s what to watch out for.
PRACTICE MANAGEMENT
2026 tax software survey
CPAs rate their return preparation software’s performance during this year’s tax season.
