Treasury and the IRS announced Wednesday that by filing season 2024, taxpayers will be able to go paperless if they choose to do so. And by filing season 2025, the IRS will digitize all paper-filed returns when they are received.
Advertisement
TOPICS
IRS Practice & Procedure
Proof-of-stake validation rewards are income in tax year received
The IRS ruled Monday that cash-method taxpayers who stake cryptocurrency native to a proof-of-stake blockchain and receive cryptocurrency validation rewards must include the fair market value of the rewards in gross income in the year they are received.
Litigation costs denied; IRS substantially justified in its position
Award of litigation costs denied because IRS’s position was substantially justified.
Supreme Court rejects challenge to notice exception for IRS summonses
Notice exception applies to IRS summons even if the taxpayer does not have a legal interest in the accounts or records summoned.
To combat fraud, IRS steps up ERC claim enforcement
Having made significant progress in the ongoing effort against fraudulent employee retention credit claims, IRS Commissioner Danny Werfel said the agency has entered a new phase of increasing scrutiny on dubious submissions while renewing consumer warnings against aggressive marketing.
Final regs. allow assessment of COVID-19 related tax credit refunds
The IRS issues final regulations that allow for the assessment of erroneous refunds of COVID-19 related paid sick leave, family leave, and employee retention credits.
IRS ends most unannounced revenue officer visits
IRS Commissioner Danny Werfel on Monday announced an end to unannounced home visits by IRS revenue officers, except in a few cases. The change is effective immediately.
Scams are surging in the summer, the IRS says
The IRS issued a warning for taxpayers to be wary of offers promising tax refunds or to “fix” tax problems, saying these emails or texts are part of a summer surge in tax scams.
At the ripe old age of 21, he’s advising the IRS on change
Aidan Hunt was appointed at age 20 to the IRS Advisory Council, a panel that advises the IRS commissioner and recommends administrative and policy changes.
IRS provides transition relief for change in beginning date for RMDs
A notice provides transition relief for the change in the required beginning date for required minimum distributions (RMDs) under the SECURE 2.0 Act and guidance related to certain specified RMDs.
Commissioner: We are progressing toward a user-friendly IRS
IRS Commissioner Danny Werfel said the Service’s transformation is in full swing, thanks to new infusion of cash that he says needs to keep coming.
How the IRS can avoid tax deadline confusion in disaster areas
The national taxpayer advocate recommended changes that range from one simple one the IRS can handle on its own to congressional action.
Prop. regs. clarify tax treatment of certain health insurance payments
New proposed regulations clarify that accident or health insurance payments are not excludable from an employee’s income where the payments are made without regard to amount of medical expenses incurred by the employee under Sec. 213(d) and the premiums or contributions for coverage are paid on a pre-tax basis.
Study: Deterrence a major factor in bringing in more money from IRS audits
The paper by researchers at Harvard University, the University of Sydney, and Treasury finds that an additional $1 spent on marginal audits of top earners can get a return of $12 in revenue.
The IRM and more: A valuable resource
By being thoroughly familiar with the Internal Revenue Manual, tax practitioners can better provide tax services and representation.
Managing tax audits using sampling techniques
This article explores how adjustments in a tax audit using sampling can be overstated by the choice of statistical method and offers practical recommendations.
IRS cannot assess Sec. 6038(b) penalties
The IRS does not have statutory authority to assess Sec. 6038(b) penalties.
Tax Court holds firm to deadline for petition filed after midnight Eastern time
Tax Court petition filed electronically after midnight Eastern time on the last day for filing is not timely.
Considerations for IRS examinations of ERC claims
With an extended examination period for the employee retention credit and repeated IRS warnings of promoted schemes, practitioners and their clients should take care to document and support credit claims.
Threats to Appeals’ independence continue: Tips for representation
The national taxpayer advocate has repeatedly highlighted problems with Appeals’ independence.
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.
