This item focuses on interest netting between different tax periods and/or types of tax (“net rate” netting claims).
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TOPICS
IRS Practice & Procedure
Adequate disclosure and the IRS’s strategy of more information reporting
Taxpayers must be careful to comply with increasingly onerous IRS disclosure requirements so they don’t lose key tax benefits.
Late-filed petition does not deprive Tax Court of jurisdiction over case
The Supreme Court reversed an Eighth Circuit decision, holding that the Sec. 6330(d)(1) filing deadline is not jurisdictional and is subject to equitable tolling.
IRS sets procedure for Superfund list changes
The IRS also has posted general Superfund FAQs and tax rates for some chemical substances subject to the recently reinstated excise tax.
IRS extends e-filing to more 1040-series amended returns
Nonresident alien amended returns and those for Puerto Rico residents are added; superseding returns can be designated.
National Taxpayer Advocate report targets IRS service
In her Objectives Report to Congress for fiscal 2023, National Taxpayer Advocate Erin Collins describes steps the IRS can take to improve its return and correspondence processing and telephone service to taxpayers.
IRS voice bots help set up payment plans
The IRS deploys more AI-powered phone abilities, enabling taxpayers calling the Service to authenticate their identifies and arrange to pay tax liabilities.
Better taxpayer service among GAO priorities for IRS
The US Government Accountability Office’s 25 top to-do items for IRS tax administration focus on service, tax fraud, cybersecurity, information reporting, audits and staffing.
Midyear IRS mileage rate increase follows precedent, recent pleas
Last week’s bump was the third midyear increase in the past 14 years, and it came after members of Congress wrote to the IRS about rising fuel prices.
Tax-avoidance schemes round out ‘Dirty Dozen’
The IRS highlights additional abusive taxpayer arrangements and tactics as its annual “Dirty Dozen” series ends.
Certain tax services do not violate US ban on provision of accounting services in relation to Russia sanctions
A document issued Thursday by Treasury offers clarity related to, for example, tax and management consulting services that would not be prohibited by the U.S. sanctions announced last month.
Standard mileage rate to increase for last half of 2022
Acknowledging recent sharp increases in gasoline prices, the IRS announced a rare midyear increase in the standard mileage rate, starting July 1.
‘Dirty Dozen’: Spear phishing targets tax pros
Emails appearing to come from the Internal Revenue Service or a tax software provider may aim to steal tax return preparers’ account and client information.
‘OIC mills’ and ‘ghost’ preparers in ‘Dirty Dozen’
Sketchy operations target tax debtors for offers in compromise, and preparers who remain anonymous on returns generally have something to hide, the IRS says in its ongoing series.
More ‘Dirty Dozen’: Tax refund theft and fake charity appeals
The IRS continued its annual series, highlighting threats to ordinary taxpayers from would-be thieves.
Dispute remains over whether couple sold house due to poor health
Taxpayer’s health may have been the reason for sale of personal residence, but the issue may not be material to whether taxpayers are entitled to an exclusion of gain on the sale.
Early signs from Treasury on the scope of digital asset cost basis reporting
This item discusses issues Treasury will have to grapple with when it provides cost basis reporting guidance.
Senators request details on IRS info return destruction
The inquiry posed seven specific questions to the IRS concerning the decision, how it was arrived at, its potential effects and whether the Service has destroyed such documents before processing them at any other time.
Senators urge 2-D barcoding of paper-filed tax returns in 2023
Fourteen GOP members of the Senate Finance Committee added their voices to National Taxpayer Advocate Erin Collins’s recent directive to the Internal Revenue Service relating to processing of paper-filed returns.
Tax equity research lacks demographic data, GAO reports
The US Government Accountability Office found disparities in the distribution of some tax items, but notes impediments to knowing taxpayers’ race, ethnicity, and sex.
PRACTICE MANAGEMENT
2026 tax software survey
CPAs rate their return preparation software’s performance during this year’s tax season.
