Changes to the due dates and extensions of time to file various tax returns and information returns were implemented in a package of regulations the IRS issued on Wednesday.
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TOPICS
IRS Practice & Procedure
Treasury identifies 8 regulations as burdensome
After reviewing all 105 Treasury regulations issued in 2016 and early 2017, the Treasury Department has identified eight that cost too much, are too complex or exceed the IRS’s statutory authority.
TIGTA official testifies about IRS data breach in FAFSA application
The details of a recent data breach affecting 100,000 taxpayers were revealed in testimony before the House of Representatives Oversight and Government Reform Committee in Washington.
Potential merger incentives resulting from proposed tax reform
The House Blueprint, if enacted, may provide incentives for certain taxpayers to merge in the future.
Executive order directs Treasury to review IRS regulations
President Donald Trump signed an executive order directing the Treasury Department to review “significant” regulations that were issued in 2016 and 2017 to determine if the regulations cost too much, are too complex, or exceed the IRS’s statutory authority.
Trump administration explains tax reform proposals
Key features include a large reduction in the corporate tax rate, fewer and lower tax brackets for individuals, and a repeal of the estate tax and the alternative minimum tax.
Tax reform: Accounting method opportunities
Accounting method planning that accelerates deductions or defers revenue could provide corporations with the potential to take deductions at the current rate and recognize revenue at a proposed lower rate.
The importance of properly identifying the employer
When multiple entities have a relationship with a worker, the determination of which entity is the
“employer” can have significant additional tax consequences.
Appropriations bill targets IRS conduct
The 2017 appropriations bill passed by Congress includes $11.2 billion for IRS operations and enforcement. But it also includes specific directives prohibiting certain IRS conduct.
Employment tax enforcement is trending
Practitioners should have a basic awareness of some of the unique tools the government uses to enforce employment tax laws.
The required-records doctrine and the Fifth Amendment
This item discusses the Fifth Amendment protection
generally in tax practice and one of its important exceptions—the required-records doctrine.
Tax preparer mistakes: Taxpayer penalties and the tax treatment of indemnity payments
Relying on a tax professional does not guarantee that the penalty will be removed for a taxpayer.
Departing aliens and the sailing permit
It is important to understand compliance requirements should the IRS begin using the sailing permit to aid its collection efforts.
IRS reopens PTIN registration system
The system had been down since early June, after a federal court held that the IRS cannot charge a PTIN fee.
Employment taxes: Beware civil and criminal penalties
The government can impose a 100% trust fund recovery penalty on “responsible persons” who were required to pay over the money or who controlled the funds.
Federal court strikes down PTIN fees, upholds PTINs
The D.C. District Court held that the IRS has the authority to require preparers to use preparer tax identification numbers (PTINs) but that it cannot charge fees for issuing PTINs.
IRS to accept only electronic payments for ruling requests
The IRS announced that it will no longer accept checks in payment for ruling requests beginning June 15.
Office of Professional Responsibility cannot investigate disbarred tax preparer
The IRS OPR has no authority or jurisdiction over a disbarred attorney/tax preparer or his tax preparation practice and cannot regulate his provision of tax advice, a federal district court in Nevada has held.
Excise tax recent developments: Failure to maintain proper documentation leads to taxpayer losses
Taxpayers engaging in transactions involving federal excise taxes should be mindful of the documentation requirements.
IRS reports sharp drop in enforcement activity in 2016
The IRS reported several large drops in its enforcement activities in fiscal year 2016, compared to the prior year.
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.
