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.
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IRS Practice & Procedure
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.
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.
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.
The Increasing Importance of IRS Examination Readiness
Despite budget cuts, the IRS is still committed to examining individuals, particularly those of high net worth.
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.
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.
Proving a Business Connection for Meals and Entertainment
Meal and entertainment expenses are deductible only if they satisfy strict requirements.
Dirty Dozen top tax scams led by phishing schemes
The IRS issued its roundup of the 12 biggest tax scams that taxpayers should watch out for this filing season.
IRS confirms 6-month extensions for calendar-year C corps.
The IRS posted to its website confirmation that it is allowing calendar-year C corporations a six-month filing extension, despite statutory language that specifies a five-month extension for calendar-year C corporations.
Next Filing Season Will Be Better: Due Dates Have a New Logical Order
The 2017 filing season will involve new due dates, a result of years of advocacy by the profession.
IRS alerts practitioners of e-Services account suspensions
The IRS notified tax practitioners who did not re-register their e-Services accounts that their accounts are no longer active.
Tax practitioners’ information will soon be available at IRS website
The IRS announced that it will soon post online the registration information of practitioners who have preparer tax identification numbers, and the information will be available without charge to the public.
Driver’s license information now required on some state e-filed returns
Tax return preparers are discovering that some state income tax returns for 2016 require information from a taxpayer’s driver’s license or state-issued identification card information before the returns can be e-filed.
Urgent Alert Warns Tax Preparers of Scam
Scammers are sending fraudulent phishing emails asking practitioners to update their IRS e-services information.
The Preparer Penalties of Sec. 6694 and Sec. 6695
This item discusses the two penalty areas that apply to preparers.
Information Document Requests From TE/GE Examiners Are Subject to New Rules
Examiners in the IRS Tax Exempt and Government Entities Division have new procedures.
Regulations Govern Preparer Penalties and Due Diligence Under New Law
Recent legislation added requirements which previously applied only to the earned income tax credit.
IRS Announces Online Account Access for Individuals
The IRS has launched an online tool that allows individuals to check their tax account balances online.
Mistakes Were Made: Knowledge of Errors on Returns and What to Do About Them
While a tax practitioner and AICPA member has a duty to notify the client, the client is responsible for deciding whether to correct the error.
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.
