An IRS Oversight Board hearing explored ways to combat fraud and improve tax administration.
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Tokyo, Hong Kong Again Top IRS High-Cost Housing List
The IRS listed 288 places as having allowable foreign housing exclusions above the otherwise applicable limitation for 2013 of $29,280.
HSA Inflation Adjustments Issued for 2014
The IRS issued the inflation-adjusted figures for the annual contribution limitation for HSAs and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans for calendar year 2014.
Proposed Rules Address Minimum Value of Health Coverage for Premium Tax Credits
The IRS issued proposed regulations for determining whether an eligible employer-sponsored health plan provides minimum value for purposes of the Sec. 36B health insurance premium tax credit.
AICPA Makes Tax Reform Recommendations to Ways and Means Committee Working Groups
The AICPA submitted recommendations for tax reform to five of the 11 working groups the House Ways and Means Committee has formed.
Widow Avoids Jail Time and Probation in Sentencing for Offshore Account Tax Evasion
A taxpayer was sentenced to one year of probation in federal district court, following her guilty plea to charges of tax evasion, but the judge almost immediately revoked that sentence.
IRS Decides to Shut Down Completely on Furlough Dates
The IRS will close “all public-facing operations,” including toll-free operations and Taxpayer Assistance Centers, on five dates in response to the budget cuts from sequestration.
Basis Reporting for Debt Instruments and Options Is Phased-In
Final regulations implementing the basis reporting requirements under Sec. 6045(g) phase in the reporting requirements for debt instruments and transfer reporting.
Boston-Area Residents Get More Time to File Returns and Pay Tax
The IRS announced that it is extending the time for filing certain individual tax returns that were due April 15 and paying any tax due until July 15.
Witnesses Tell Senate Finance Committee Ways to Improve Tax System
Witnesses gave the Senate Finance Committee a variety of suggestions on how to fight tax identity theft and fraud, reform the tax system, and fund the IRS during a hearing on Tuesday.
A Look at the Estate Tax Provisions in the President’s FY 2014 Budget Proposal
The president’s recently released FY 2014 proposed budget contains a number of estate, gift, and generation-skipping transfer (GST) tax proposals.
Significant Decline in IRS Staff Leads to Fewer Audits
The IRS plans to expend 18% fewer staff hours auditing large businesses with assets of more than $10 million in fiscal year 2013.
President Proposes Many Tax Changes in 2014 Budget
The president’s proposed FY 2014 budget aims to raise approximately $580 billion in revenue through new taxes, limits on deductions, and other tax proposals.
Incorrect Expert Advice About Estate Return Filing Deadline Does Not Excuse Penalty
An executor who relied on his accountant’s mistaken advice that he had obtained a one-year extension of the filing due date for Form 706 was nonetheless liable for a large late-filing penalty.
IRS Announces Pre-Approval Program for Sec. 403(b) Plans
The IRS has established a program for the pre-approval of Sec. 403(b) plans.
IRS’s Identity Theft Liaison Pilot Program with Law Enforcement Expands to 50 States
The IRS announced the expansion of its Law Enforcement Assistance Program on identity theft to 50 states and D.C.
IRS Extends Suspension of Examinations of Tangible Property Capitalization Issues
The IRS posted an updated LB&I Directive for field examinations on the repair vs. capitalization issue that extends the suspension of examinations
Appeals Court Denies IRS Request for Stay in Return Preparer Regulation Case
The IRS lost another round in its court battle to regulate tax return preparers when an appeals court denied its motion to stay an injunction halting its return preparer regulation program, pending appeal of a lower court’s decision.
“Sovereign Citizens” Promoter Faces up to 164 Years in Prison
A proponent of the “sovereign citizens” movement has been convicted of conspiracy to defraud the United States through a series of seminars in which attendees were taught to pay their federal income taxes by filing fictitious bonds.
Identity Theft, Phishing Top IRS’s “Dirty Dozen” Tax Scams
The IRS issued its “Dirty Dozen” list of tax scams, highlighting fraudulent schemes commonly committed by and upon taxpayers.
INDIVIDUALS
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
