IRS Practice & Procedure
The IRS reports that its Transcript Delivery System is down for business taxpayers who reported information related to COVID-19 employment tax relief on Form 941, Employer’s Quarterly Federal Tax Return.
Practitioners and the organizations they are involved with can participate in facilitating the ongoing applicability and effectiveness of Circular 230.
A bill proposed in Congress would authorize Treasury to regulate paid tax return preparers, and the AICPA strongly supports it.
Hijacking of economic impact payments and unemployment checks are spotlighted in the IRS’s annual alert, which warns taxpayers of the most prevalent scams and schemes the Service has identified.
New IRS final regulations clarify when a federally declared disaster will lead to mandatory 60-day postponement of certain tax-related deadlines.
The Supreme Court held that the Anti-Injunction Act did not bar a challenge to information reporting
requirements backed by separate tax penalties.
The proposed $6 trillion fiscal year 2022 budget unveiled by the Biden Administration includes a host of tax items, including proposals to raise the corporate tax rate, raise the top tax rate for high-income individuals, limit like-kind exchanges, and make permanent recent temporary changes to various tax credits.
An AICPA letter to the IRS recommended several penalty relief measures to mitigate the pandemic’s effects and minimize required contacts with the IRS.
The Biden administration says the IRS should be given the authority to regulate paid tax return preparers who are currently unregulated, and the AICPA offers its recommendations in six key areas.
A new online portal automates the submission of powers of attorney and tax information authorizations, and there are plans to expand its functionality over time.
The IRS warns taxpayers of unscrupulous tax promoters in the fourth installment of its annual list of common tax scams.
The IRS announced that is has added a new feature to its Child Tax Credit Update Portal to allow individuals to enter bank information so they can receive advance child tax credit payments by direct deposit.
Legal expenses for notice letters required as part of
an application to the FDA for permission to produce and market generic drugs are capitalizable, but legal expenses for patent litigation as a result of certain certifications made during the approval process are deductible.
This article discusses issues taxpayers should consider during a litigation or arbitration process.
This item provides an overview of potential penalties and presents an argument as to why the
Sec. 6656 failure-to-deposit penalty may not apply in some instances.
CARES Act provisions on net operating losses place new spotlight on the effect of filing superseding returns.
Various options are available for mitigating penalties for noncompliance with foreign return filing requirements.
In response to the coronavirus pandemic, the IRS issued guidance extending the temporary authorization to issue a number of IRS forms using electronic signatures through Dec. 31, 2021.
Increasingly limited IRS budgets and their effect on penalty and collections practices could be endangering the public fisc by creating incentives
against voluntary compliance.
A bill recently proposed in Congress would authorize Treasury to regulate paid tax return preparers, and the AICPA strongly supports it.
