The IRS issued the 2019 annual inflation adjustments for many tax provisions as well as the 2019 tax rate tables for individuals and estates and trusts.
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IRS Practice & Procedure
IRS finalizes tax preparer due-diligence regs.
The IRS issued final regulations on the penalty that applies to tax return preparers who fail to exercise due diligence in preparing returns for taxpayers who are claiming head-of-household filing status, the earned income tax credit, the child tax credit, the additional child tax credit, or the American opportunity tax credit.
Is your client the subject of an FBAR examination?
This article discusses a few key things practitioners should know about FBAR cases.
IRS issues updates on post-shutdown activities
The IRS posted guidance for the public explaining how it will be operating now that the shutdown has ended, to catch up on its backlog in audits, collections, tax return processing, and Tax Court cases.
Government shutdown ends in time for tax season
The partial shutdown of the federal government ended just in time to allow the full IRS workforce to return to work for the start of tax season.
Paid preparer’s checklist expands to include head-of-household, other tax credit questions
Practitioners should be aware of changes to the due-diligence requirements for returns that claim the earned income tax credit, the American opportunity tax credit, and/or the child tax credit.
Some individual taxpayers get relief from underpayment penalty
The relief applies to individuals whose tax withheld and estimated tax payments equal at least 85% of the tax shown on their 2018 tax return.
Half of IRS employees to be recalled during tax season
The IRS issued an updated contingency plan outlining how it will function during tax season.
IRS announces Free File launch
The IRS announced that its Free File program, which provides free electronic filing options to moderate-income taxpayers, opened Jan. 11 and will operate through Oct. 15.
IRS sets start date for tax season, will issue refunds during government shutdown
The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.
Navigating the private debt collection program
The IRS’s statutorily mandated private debt collection program creates numerous hazards for unsuspecting taxpayers, allows fewer payment and negotiation options than direct contact with the IRS, and has not been cost-effective.
IRS to improve management of its existing tip agreements
A TIGTA audit report examined tip-related tax noncompliance and made nine recommendations to the IRS.
IRS to issue proposed regs. on the deductibility of expenses for certain business meals
Notice 2018-76 generally allows a taxpayer a 50% business deduction for meals associated with an entertainment activity to the extent that the meals are purchased separately from the entertainment, or the cost is stated separately from the entertainment cost on the receipt.
Tax credits in bankruptcy
Tax refunds that count as “public assistance benefits” may be exempt in bankruptcy.
Resolving federal tax liabilities
This article explains debt resolution methods, how tax practitioners can assist taxpayers in the process of resolving a liability, and how taxpayers can administratively appeal adverse IRS collection
determinations.
Recognizing when the IRS can reallocate income
The IRS can take advantage of several rules to ensure related-party transactions do not result in tax evasion or an improper reflection on income.
IRS to table changes planned for Form W-4 until 2020
As a result of feedback from payroll and tax professionals, the IRS will postpone the extensive changes it had planned to the 2019 Form W-4.
IRS announces new LB&I campaigns
The IRS LB&I identified 10 new campaigns that expand the focus areas under its issue-based examination program.
Transferee liability under Sec. 6901
A transferee could be liable for a transferor’s tax debts if property is purchased for less than fair value.
A substantial-authority scorecard and example for excluding Sec. 1202 gain for a carried partnership interest
Keeping a “scorecard” of the weight of authorities on a particular position can be helpful to determine the objective merits of a tax position.
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.
