IRS Practice & Procedure

TOPICS

October 1, 2015

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.

October 1, 2015

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.

September 15, 2015

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.

September 15, 2015

Tax Reform: Challenges of Broadening the Tax Base

For the past few years, the emphasis has been on lowering tax rates and broadening the base for revenue-neutral, comprehensive tax reform.

September 1, 2015

Statute of Limitation for Tax Carryovers

It is not unusual for a taxpayer to make an error on a return that results in a misstatement of a net operating loss or a credit that is then carried forward. These mistakes might not be noticed until after the statute of limitation is closed.

September 1, 2015

Handling Potentially Misclassified Workers

A business can take these steps to strengthen its position that it is properly classifying workers as employees or independent contractors and minimize risk.

September 1, 2015

Navigating Today’s IRS Examination With Fast Track Settlement

Fast Track Settlement may provide a viable alternative to pursuing an audit appeal.

September 1, 2015

Money Can’t Buy Love, but It Can Keep You Out of Prison

Seventh Circuit upheld a district court’s decision to spare Beanie Babies billionaire prison time for evading taxes by hiding assets in a Swiss bank account.

September 1, 2015

Trade Preferences Act Amends the Tax Code

The Trade Preferences Extension Act of 2015, enacted on June 29, contains a few tax provisions in addition to the trade measures that were the focus of the bill.

August 27, 2015

IRS Proposes Rule Updates and Clarifications to Penalty for Nondisclosure of Reportable Transactions

The IRS issued proposed regulations that would update and clarify the rules regarding the penalty for failure to disclose reportable transaction information.

August 17, 2015

Get Transcript Data Breach More Than Three Times as Big, IRS Announces

The IRS alerted the public that an additional 220,000 taxpayers had their tax return information compromised in the Get Transcript database breach it announced in May.

August 13, 2015

Highway Trust Fund in the Tax Reform Spotlight

Financially troubled since 2001, the Highway Trust Fund might get more than its typical Band-Aid fix with a proposed new funding source that could also kick off comprehensive tax reform.

August 12, 2015

Temporary Regulations End Automatic Extension for Forms W-2

In a move designed to fight taxpayer identity theft and tax fraud, the IRS will eliminate automatic extensions of time to file forms in the W-2 series, starting in 2017.

August 1, 2015

Taxpayer Data at Risk From Expansion of IRS Online Taxpayer Services, TIGTA Says

By expanding its online services, the IRS is putting taxpayers’ data at greater risk, the Treasury Inspector General for Tax Administration told Congress.

August 1, 2015

Construction Contractor Hammered on Trust Fund Penalty

The Tax Court held that a responsible person taxpayer was not entitled to currently not collectible status for her liability attributable to a trust fund recovery penalty and that adequate protection payments made to the IRS by her wholly owned corporation could not be applied to her liability.

August 1, 2015