IRS Practice & Procedure

TOPICS

January 1, 2020

Imprecise notice of deficiency does not give Tax Court jurisdiction

A deficiency notice that identifies two separate taxpayers is not a valid notice that confers jurisdiction on the Tax Court.

December 12, 2019

Test your IRS IQ

How much do you know about the IRS? Take this pop quiz to find out.

December 1, 2019

R&D tax credit: Don’t leave money on the table

Many taxpayers do not realize that the R&D tax credit is available to businesses of all sizes in many lines of business, not just major corporations conducting tests in research laboratories.

December 1, 2019

Fraudulent intent lands CPA in hot water

A CPA taxpayer was found to have fraudulent intent
in various tax minimization schemes he engaged in.

December 1, 2019

Legal hemp and deductible expenses

Marijuana businesses are unable to deduct most ordinary business expenses. However, COGS is allowable as an adjustment to gross receipts.

November 26, 2019

Per-diem method clarified in light of TCJA changes

The IRS issued updated rules for substantiating the amount of ordinary and necessary business expenses paid or incurred while traveling away from home using the per-diem rates.

November 14, 2019

IRS commissioner seeks to enhance taxpayer contacts, target enforcement

Speaking to the AICPA National Tax Conference in Washington, IRS Commissioner Charles Rettig discussed possible IRS restructuring, more-targeted enforcement efforts and IRS use of data analytics.

November 6, 2019

IRS posts 2020 inflation adjustments and tax tables

The IRS released the 2020 tax tables for individuals and estates and trusts, as well as the inflation adjustments for over 60 tax provisions for 2020 tax returns.

November 1, 2019

TIGTA reports large increase in alimony tax gap

Discrepancies between the amount of alimony deducted by payers and reported as income by its recipients increased by 38% in six years, the Treasury Inspector General for Tax Administration reported.

November 1, 2019

IRS issues Q&As on Sec. 965 transfer and consent agreements

The IRS released guidance to further recap and clarify
the rules for transfer and consent agreements.

November 1, 2019

New IRS compliance campaigns

LB&I recently announced it was adding six new
compliance campaigns to its list of areas on which to focus its examinations.

October 18, 2019

TIGTA outlines IRS challenges for 2020

The memorandum lists 10 challenges in order of importance, ranging from data security to achieving operational efficiencies.

October 1, 2019

IRS allows taxpayers to change their minds on bonus depreciation

The IRS will permit taxpayers to change their bonus depreciation treatment for property acquired after Sept. 27, 2017, and placed in service during a tax year that includes Sept. 28, 2017.

October 1, 2019

IRS practitioner services and AICPA’s ongoing advocacy for improvement

The AICPA pushes for investments in IRS-practitioner communications that could reduce compliance burdens for millions of taxpayers.

October 1, 2019

Taxpayer First Act provision prompts IRS to change its third-party contact procedures

The IRS issued updated procedures for third-party contacts to reflect changes enacted in the recent Taxpayer First Act, requiring the IRS to notify taxpayers at least 45 days before it contacts a third party to determine or collect a tax.

October 1, 2019

Reliance on preparer is not reasonable cause for late filing

The advent of e-filing has not changed the rule that reliance on a preparer to file a return is not a reasonable cause for a taxpayer’s failure to file a timely return.

October 1, 2019

Substitute-for-returns procedure

Taxpayers who fail to file tax returns may receive assessments from an IRS-prepared substitute for return.

October 1, 2019

Taxpayer First Act changes the dynamic between IRS and practitioners

The law signed in July is aimed at enhancing taxpayer rights and improving customer service.

September 13, 2019

Regulations clarify bonus depreciation treatment

The IRS issued final regulations and new proposed regulations on the 100% bonus depreciation deduction that was amended by the law known as the Tax Cuts and Jobs Act.

September 12, 2019

Corporations have short period to apply for IRS CAP program

The IRS announced that it is opening its Compliance Assurance Process (CAP) program to new applicants for the first time in years, but applications must be made between Sept. 16 and Oct. 31.