IRS Practice & Procedure

TOPICS

April 20, 2017

Cryptocurrency and taxes

Cryptocurrency has gone mostly unregulated, but Coinbase could be just the first of many IRS targets.

April 1, 2017

Procedure for obtaining rescission of 90-day letters

The appropriate situations for using rescission use are really very limited.

April 1, 2017

Misapplied payment does not result in erroneous refund

A credit made by the IRS to a taxpayer’s account, which stemmed from its misapplication of a payment for the taxpayer’s mother in an earlier year, was not an erroneous refund.

April 1, 2017

The statute of limitation for net operating losses

Can the IRS challenge the calculation of the prior-period carryover amount and, in effect, reopen a closed return?

April 1, 2017

Taxpayer proved timely mailing of Tax Court petitions, Seventh Circuit holds

A taxpayer whose lawyer used print-at-home postage when mailing several Tax Court petitions timely filed those petitions, the Seventh Circuit held.

April 1, 2017

Tax reform is likely to curtail some credits and incentives

This item discusses several popular tax credits and incentives and their potential future in light of tax reform proposals.

April 1, 2017

International information return penalties remain a significant issue for taxpayers and advisers

This item explores the risks for certain delinquent or substantially incomplete international information returns.

April 1, 2017

IRS announces online publication of practitioners’ registration information

The IRS alerted tax practitioners that it plans to publish their registration information online.

March 31, 2017

IRS enforcement activities dropped in 2016

The IRS reported several large drops in its enforcement activities in fiscal year 2016, including a 16% drop in audits, a 40% drop in levies, and a 9% drop in liens compared to the prior year.

March 30, 2017

Form 1040NR enters the 21st century

Nonresident filers can now file their 2016 Form 1040NR electronically.

March 23, 2017

Disbarred tax preparer not subject to IRS jurisdiction

The IRS Office of Professional Responsibility 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.

March 21, 2017

SB/SE Fast Track Settlement program made permanent

The IRS has formally established the Small Business/Self Employed Fast Track Settlement program (SB/SE FTS), formerly a pilot program, and modified the rules for the program.

March 20, 2017

No tax fraud for issuing Form 1099, Seventh Circuit holds

An insurance broker who issued a Form 1099 to a payee who never cashed the check for the payment reported on the 1099 did not commit tax fraud, the Seventh Circuit held, reversing a decision by an Illinois federal district court.

March 15, 2017

Taxpayers affected by winter storm get more time to file business return extensions

The IRS announced that it would grant “eligible taxpayers” who are affected by this week’s winter storm on the East Coast extra time to file their requests for filing extensions.

March 13, 2017

IRS takes down student financial aid data retrieval tool

The IRS announced that has taken down its tool for retrieving tax return data used to complete the Free Application for Federal Student Aid.

March 1, 2017

The Increasing Importance of IRS Examination Readiness

Despite budget cuts, the IRS is still committed to examining individuals, particularly those of high net worth.

March 1, 2017

A Taxpayer’s Duty of Consistency

Taxpayers should be aware of the IRS’s ability to affirmatively raise the duty of consistency to bind taxpayers to positions previously taken.

March 1, 2017

IRS Notice Explains De Minimis Safe Harbor for Information Returns/Payee Statements

The IRS issued a notice that provides guidance on the de minimis safe harbor from information reporting penalties and the payee election not to have the safe harbor apply.

March 1, 2017