IRS Practice & Procedure
In October, the IRS said it would leave Free File open for an extra month, until Thursday, so eligible taxpayers can claim their share of several benefits including the 2021 recovery rebate credit, the child tax credit, and the earned income tax credit.
National Taxpayer Advocate Erin Collins writes on her blog that there’s little time left for the IRS to clear its backlog by end of 2022 as the IRS commissioner promised Congress earlier this year.
The IRS and Treasury will allow churches, public schools, and charities with Sec. 403(b) retirement plans use the same individually designed retirement plan determination letter program that qualified retirement plans use.
The Practitioner Perspectives series will continue at the IRS Independent Office of Appeals as part of the office’s focus guide for fiscal year 2023. During the series, tax practitioners share insights and feedback with Appeals employees.
The IRS asks for comments by Dec. 3 on tax credits included in the Inflation Reduction Act, including the commercial clean vehicles provision.
National Taxpayer Advocate Erin Collins expressed concern for voluntary compliance amid Treasury’s promise that increased IRS funding will not be used to audit people earning under $400,000. She spoke during a session at the annual AICPA & CIMA National Tax Conference.
Two former IRS commissioners addressed the agency’s issues at an AICPA panel and sounded a note of optimism for the future, based on new funding and pending technology improvements.
Federal, state, and international tax issues are often examined, as well as the impact of nontax developments on tax policy and behavior.
This item discusses the requirement that captive insurance companies must sufficiently distribute their risks for an arrangement to be considered insurance for federal income tax purposes.
The difference between taxes owed and taxes paid was $496 billion annually for tax years 2014 through 2016, and that figure is likely to grow, the IRS said.
The IRS announced that it has hired new customer service representatives, who will be trained to provide help to taxpayers in time for the 2023 tax season.
In a move the AICPA supports, the IRS is providing a new way to make anonymous reports about third-party vendors promoting improper claims for the employee retention credit.
The IRS has begun a pilot program designed to thwart services that let callers jump ahead in the IRS Practitioner Priority Service phone queue.
The IRS issued the retirement account inflation adjustments for 2023, including the maximum contribution amounts for 401(k) plans and IRAs.
The IRS reminds taxpayers who live in certain areas covered by disaster declarations that the extra time they have to file also applies to filing returns to qualify for penalty relief for 2019 and 2020.
Changes include increases in the standard deduction for many taxpayers, new tax brackets, and a higher maximum earned income tax credit amount.
IRS cannot withhold disclosure of certain returns and return information in Tax Court whistleblower review case.
The IRS strives to expand online service offerings while balancing convenience with the need to keep taxpayer data safe from hackers.
A number of factors have led to a decline in IRS examinations over the past few years, and a dearth of IRS examiners could cause that trend to continue.
The Third Circuit affirmed a district court’s holding that a taxpayer’s failure to report his foreign accounts on FinCEN Forms 114, Report of Foreign Bank and Financial Accounts (FBAR), was willful.
