The Tax Court upheld the IRS’s imposition of penalties against a couple for marketing and promoting tax shelters based on the use of a corporation sole.
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TOPICS
IRS Practice & Procedure
IRS Proposes Removing the Benefits-and-Burdens Test From Sec. 199
Proposed rules would provide that, if a qualifying activity is performed under a contract, the party that performs the activity is the taxpayer for Sec. 199 purposes.
IRS Admits Get Transcript Data Breach Three Times Larger Than First Announced
An additional 220,000 taxpayers had their tax return data stolen from the site.
Government Says Obstruction; Taxpayer Says Evasion
The Tenth Circuit rejected a taxpayer’s argument that his conviction for tax obstruction should be overturned because he actually was guilty of tax evasion.
PTIN User Fee Will Be Lowered
The IRS issued regulations lowering the fee for PTINs, effective for the coming filing season, from $50 to $33, effective Nov. 1, 2015.
IRS Issues 2016 Inflation Adjustments and Tax Tables
The IRS issued the annual inflation adjustments for 2016 for more than 50 tax provisions as well as the 2016 tax rate tables for individuals and estates and trusts.
IRS Announces Progress in Collaborative Fight Against Tax Return Identity Theft
Six months after announcing it was partnering with state tax authorities, tax preparation companies, and other interested parties, the IRS said it is making progress in the collaborative effort to fight identity theft.
2016 Social Security Wage Base Is Released
The good news for workers is that there will also be no increase in the amount of wages subject to Social Security taxes (old age, survivor, and disability insurance).
Updated Rules Would Govern Tax Court and Appeals Office Procedures
The new procedures are designed to facilitate consideration by the IRS Appeals office, while maintaining the independence of the appeals process as required under the law.
Expired Tax Provisions: No Relief in Sight?
It’s a good time to review which provisions might get a last minute reprieve and see what legislation is pending in Congress.
IRS Gives South Carolina Flood Victims Tax Relief
The IRS announced that taxpayers who live or have a business in the South Carolina counties that have been declared disaster areas will have extra time to file their returns and pay any taxes owed.
Current Issues Involving Deferred Compensation and Employment Taxes
Employers in the for-profit, tax-exempt, and public sectors may overlook a number of issues involving the application of the employment tax rules.
Identity Theft: Staying One Step Ahead of the “Bad” Guys
A number of steps can be taken to minimize the opportunities for identity thieves to be successful.
BMC Software: A Hidden Holding on the Weight Afforded to Published Guidance
a deeper analysis of this court decision sheds light on a broader issue with significant importance to all tax practitioners: How much weight should a court give to IRS published
guidance?
Extension OK Where Individual Had Apparent Authority to Sign It
A consent to extend the limitation period for the assessment for partnership items signed by the tax matters partner of a partnership in his capacity as the tax matters partner of another partnership was valid because the individual had the apparent authority to sign the consent.
CPAs May Be Responsible for Clients’ Payroll Tax Penalties
The Erwin case is an important reminder that an accountant can be held liable for a client’s unpaid employment taxes.
Employee or Independent Contractor?: The Worker Classification Dilemma
Workers want payers to be held responsible for payroll taxes and employee benefits, and payers/businesses want to shift that responsibility to their workers to save money and lessen their administrative burdens.
Highway Funding Bill Enacts Long-Sought Change in Return Due Dates
The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 contains several important tax provisions.
IRS Regulations on Where to File Claims for Refund
The IRS issued final regulations on the correct place for taxpayers to file claims for refund or credit.
AICPA Expresses Concerns About Tax Return Preparer Legislation
The proposed grant of authority to the IRS to regulate all aspects of tax practice is overly broad, the AICPA said in a letter to the Senate Finance Committee.
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.
