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.
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TOPICS
IRS Practice & Procedure
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.
Stock repurchase excise tax reporting and payment delayed by IRS
The IRS says covered corporations will not have to report or pay the new 1% stock repurchase excise tax until it issues forthcoming regulations.
Research finds algorithms, unscrupulous preparers behind audit bias
Subsequent research has replicated the racial gap in audit rates found in a study led by Stanford University and pointed to both unscrupulous tax preparers who submit EITC claims and algorithmic bias in the IRS’s audit selection process as causes.
Taxpayer advocate: 2023 tax season better at IRS; IT upgrades imperative
In her annual midyear report to Congress, National Taxpayer Advocate Erin Collins says the difference between the 2022 and 2023 tax seasons was “like night and day.”
IRS updates list of automatic accounting method changes
The IRS on Thursday provided a comprehensive, updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13 apply. The list includes 29 changes that the Service describes as significant.
IRS addresses whether college NIL collectives further an exempt purpose
A memo from the IRS Office of Chief Counsel advises that an organization that develops paid NIL opportunities for student-athletes will, in many cases, be operating for a substantial nonexempt purpose—serving the private interests of student-athletes—which is more than incidental to any exempt purpose furthered by the activity.
Penalty for underpayment of estimated corporate AMT waived for 2023
The IRS waived the penalty for corporations that did not make estimated payments of corporate AMT for their 2023 tax year, saying the move is “in the interest of sound tax administration.”
National taxpayer advocate: A paperless IRS is possible
NTA Erin Collins said at AICPA & CIMA ENGAGE 2023 that the IRS has a goal of being “paperless” by 2025, by which it means anything taxpayers file on paper would be scanned.
IRS revises actuarial tables to account for most recent mortality data
The IRS issued final regulations revising actuarial tables to reflect mortality data from the 2010 Census.
A pandemic-era tax break that remains rife with abuse — the ERC
The IRS issues at least its seventh warning about the employee retention credit since October 2022.
Tax fraud and bankruptcy dischargeability
This article examines aspects of criminal and civil tax fraud and their consequences for discharge of tax debts in bankruptcy, including principles of collateral estoppel and res judicata.
Ninth Circuit again addresses return filing
Faxing a return copy to an IRS agent or mailing it to an IRS attorney is not ‘filing’ the return.
Blog posts are admissible in innocent-spouse relief case
Blog posts held admissible in equitable innocent-spouse relief determination case.
Sec. 965 transition tax: Installment payments causing processing errors
Several aspects of automated processing must be monitored, and workarounds have been created by IRS employees tasked with maintaining accounts with deferrals of Sec. 965 transition tax.
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.
