Practitioners can protect themselves from significant
penalties by following the IRS’s ‘adequate disclosure’
procedures.
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TOPICS
IRS Practice & Procedure
Tax-day computer crash prompts IRS to extend deadlines
After the IRS’s Modernized e-File and Direct Pay systems were not in operation for most of the tax-deadline day, the IRS extended the filing and payment deadline for 2017 individual tax returns.
Agreement between Treasury and OMB subjects tax rules to review
The Treasury Department and the White House’s Office of Management and Budget have agreed to change the procedures under which Treasury regulations are reviewed.
Managing client expectations for IRS refunds
This column discusses reasons for delayed refunds and actions practitioners can take when a client is experiencing a delay.
Sec. 6676 erroneous claim for refund penalty
The Sec. 6676 penalty is equal to 20% of the amount by which the claim for refund or credit exceeds the amount allowable for the tax year at issue.
First-time abatement: Procedure and case law updates
An automated process for first-time abatements could ensure consistent application of relief for taxpayers.
Form 1040 to be shorter but with more schedules
The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines.
AICPA advocates for IRS tax guidance priorities
The AICPA sent a letter to the IRS with recommendations for items of tax guidance that should be priorities for the Service to issue from July 1, 2018, to June 30, 2019.
Draft 2019 Form W-4 and instructions posted
The IRS released a draft Form W-4, Employee’s Withholding Allowance Certificate, and its instructions, for individual taxpayers to use to determine their income tax withholding for 2019.
2018’s Dirty Dozen tax scams listed
The IRS completed its annual list of the top tax scams for this filing season, with brazen phishing and phone scams still prominent on the list.
Tax reform and the IRS: Five takeaways for tax practitioners
Tax administration, post–tax reform, is markedly different than before, for several reasons.
Appropriations act tax provisions include IRS funding and audit rules
The $1.3 trillion spending bill passed by Congress includes IRS funding and tax-related technical corrections, including changes to the centralized partnership audit regime.
Knowledge of tax-related proceeding necessary for obstruction conviction
A taxpayer must be aware of a pending tax-related proceeding to be convicted of obstructing or impeding due administration of the Code.
AICPA recommends IRS FAQs on virtual currency taxation
The comments were prompted by new questions that have emerged about how the tax rules apply to virtual currency transactions since the AICPA first submitted comments.
Standard mileage rates, depreciation amounts updated
The IRS issued guidance on the standard mileage rates and depreciation limits that were changed by the Tax Cuts and Jobs Act.
IRS warns tax practitioners of new phishing scam
The IRS alerted tax practitioners to beware of a new phishing scheme in which cybercriminals send out emails posing as state accounting and professional associations.
Reporting life settlement sales after the Tax Cuts and Jobs Act
Find out about a new requirement for life insurance companies to report sales of life insurance policies.
Small businesses should guard against tax-return identity theft
The IRS urged small businesses to be wary of a growing amount of identity theft attempts aimed at employers and small businesses in general, and partnerships and trusts and estates.
Navigating the tax return signature maze
Stepped-up security to deter and prevent fraud means legitimate taxpayers and their tax professionals must overcome extra hurdles to comply with their tax obligations.
Revenue procedure contains tax rate tables and inflation adjustments under new tax law
The IRS announced new lower tax brackets for 2018 and a number of other new items affected by the Tax Cuts and Jobs Act.
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.
