IRS Practice & Procedure

TOPICS

July 1, 2016

Material Adviser Penalty Rules Are Clarified

The IRS issued final rules for the penalty imposed on material advisers for failing to provide the IRS a list of advisees with respect to reportable transactions.

July 1, 2016

LB&I Announces Expanded Prefiling Agreement Program, Significant User Fee Increase

The IRS expanded its existing prefiling agreement program for taxpayers that fall under the jurisdiction of the Service’s Large Business and International division.

July 1, 2016

Practical Documentation of QRAs for the R&D Tax Credit

In the absence of records specifically created to document the research tax credit, taxpayers
often have to rely on estimates and an assortment of documents, interviews, and other evidence to substantiate expenditures that qualify for the research tax credits.

June 23, 2016

E-file PIN Program Shut Down in Response to Cyberattacks

The IRS announced that the electronic filing personal identification number (e-file PIN) tool is “no longer available” after it detected additional attacks on the system.

June 8, 2016

IRS Did Not Discover or Help All Get Transcript Data Breach Victims

The TIGTA criticized the IRS’s failure to identify and assist all taxpayers whose tax return and other data may have been accessed by cybercriminals in last year’s Get Transcript breach.

June 7, 2016

Taxpayers Can Get Tax Return Transcripts Online Once Again

Announcing increased security and authentication procedures, the IRS said that it had reinstated its Get Transcript Online service, which had been breached by cybercriminals last year.

June 1, 2016

Final Rules Define Loss Importation Property

The IRS issued final rules that prevent taxpayers from transferring losses to corporations.

June 1, 2016

Medical Device Excise Tax: Moratorium Considerations and FAQs

This item discusses some frequently asked questions with respect to the medical device excise tax and the current state of the law.

June 1, 2016

Revised Vehicle Depreciation Limits Are Issued

The IRS released guidance providing revised limits for the amount of depreciation taxpayers can take for the first year they use a passenger
automobile for business.

June 1, 2016

What LIHTC Project Owners Should Know About New IRS Compliance-Monitoring Rules

IRS regulations and revisions provide state or local housing credit agencies with additional flexibility in implementing monitoring duties.

June 1, 2016

IRS Updates List of Designated Private Delivery Services

Eight DHL delivery services were added to the list of designated private delivery services that qualify for purposes of the timely mailing/timely filing rule.

May 26, 2016

AICPA Members Weigh In on IRS Service Levels

Problems included trouble getting through on the phone and trouble reaching IRS representatives who could answer their questions. Written communications with the agency were another source of frustrations.

May 17, 2016

IRS Future State Is Not a One Size Fits All

Nina Olson, the national taxpayer advocate, heard from tax practitioners and taxpayer groups on how the IRS can modernize its taxpayer services.

May 17, 2016

CPAs Helping Guide Tax Administration and Affecting Tax Policy

As it works through a long list of priorities and plans for its “future state,” the IRS should look to CPAs, who based on their experience can provide a unique viewpoint.

May 6, 2016

Prop. Regs. Would Impose Reporting Requirements on Foreign-Owned Disregarded Entities

Foreign-owned disregarded entities, such as LLCs, would be required to report transactions with their owner and keep records under rules proposed by the Internal Revenue Service.

May 4, 2016

LB&I Expands Prefiling Agreement Program

This program is intended to resolve, before an LB&I taxpayer’s tax return is filed, issues that are likely to be disputed in post-filing audits.

May 1, 2016

A Look at the Impact of New Federal Filing Deadlines

Taxing authorities have sought to incorporate adequate lead time into the tax filing process.

May 1, 2016

IRS Issues Final Regulations on Awarding Litigation Costs

The regulations address awarding costs to a prevailing party in certain proceedings for determining, collecting, or refunding any tax, interest, or penalty.

May 1, 2016