This item discusses some situations in which taxpayers have argued that a refund request made on an incorrect form is a valid informal refund claim.
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TOPICS
IRS Practice & Procedure
Form 5472 Regulations Are Finalized Prohibiting Filing Form Separately
Final regulations issued by the IRS remove the provision allowing Form 5472 to be timely filed separately from the corporation’s tax return if that return is filed late.
Tax Court Reforms Statute-of-Limitation Extensions
The Tax Court found that the IRS and the taxpayers made a mutual mistake on Forms 872, Consent to Extend the Time to Assess Tax, regarding the tax years for which the statute of limitation on assessment was being extended and reformed the forms to apply to the years that the IRS and the taxpayers intended to extend.
IRS Commissioner Warns of Budget Cut Effects
IRS Commissioner John Koskinen issued a message to IRS employees in January outlining the steps the Service will have to take to deal with the budget cuts Congress enacted late last year, giving the IRS $10.9 billion in funding, a reduction of $346 million from the previous fiscal year.
Taxpayers Who Already Filed 2014 Returns Using Incorrect Forms 1095-A Won’t Have To Pay More Tax
The Treasury Department announced on Tuesday that taxpayers do not have to file amended returns if they already filed their 2014 tax returns relying on forms sent by the government that contained incorrect information about their health coverage and any advance premium tax credit they received.
Thousands Receive Incorrect Health Care Tax Forms; Signup Period Extended
The government announced that many taxpayers who signed up for health insurance on the site have received an incorrect Form 1095-A for 2014. It also announced an extension of time for uninsured taxpayers to sign up for insurance on the website.
Employee Consent to Employment Tax Refunds Could Be Obtained Electronically
The IRS issued a proposed revenue procedure that would permit employers who file refund claims for overpaid FICA and RRTA taxes to obtain their employees’ consent to the refund claims electronically.
Most Outstanding Claims for FICA Tax Refunds Will Be Denied, IRS Announces
The IRS announced that it will disallow all refund claims filed while resolution of the issue of whether severance payments to employees are subject to FICA tax was pending, as well as the appeals filed in response to the denial of refund claims.
2015’s Dirty Dozen Tax Scams
Phone scams, phishing, and identity theft topped this year’s IRS list of the “dirty dozen” tax scams.
IRS Issues Revised 2014 and 2015 Passenger Automobile Depreciation Limits
The IRS issued revised numbers for the amount of depreciation taxpayers can take for the first year they use a passenger automobile (including a truck or van) for business in 2014 and the figures for 2015.
IRS Offers New Options for Taxpayers Who Failed to File International Information Returns
This item is an overview of the ways a taxpayer can deal with the failure to file required international information returns.
Codified Economic Substance Update: IRS Issues More Guidance
The IRS issued a notice providing additional guidance on the codified economic substance doctrine under Sec. 7701(o) and related penalty amendments.
AICPA’s Revised Confidentiality Rule, Sec. 7216, and the Tax Professional
Practitioners are encouraged to determine whether they comply with both Sec. 7216 and revised AICPA client confidentiality rules.
Congress Enacts Last-Minute Extenders for 2014
The Senate passed a bill to retroactively extend more than 50 expired tax provisions through 2014, by a vote of 76-16 on the evening of Dec. 16. The extender bill passed the House of Representatives on Dec. 3, and was signed by President Barack Obama on Dec. 19.
Offshore Voluntary Disclosure Program to Remain Open Indefinitely
The IRS stated that it intends to keep its Offshore Voluntary Disclosure Program open until it announces otherwise.
Taxpayers Get Penalty Relief for Incorrect Premium Tax Credit Advance Payments
The IRS will provide automatic penalty relief for taxpayers who, when they reconcile advance payments of the premium tax credit they received for 2014 to the amount of the credit they are entitled to on their income tax returns, find they owe additional tax.
Details of the President’s State of the Union Tax Proposals
President Barack Obama used Tuesday’s State of the Union address to announce that he will propose tax increases for higher-income individuals and provide tax relief for middle-class taxpayers.
Budget Cuts May Force IRS Furlough Days Again
IRS Commissioner John Koskinen issued a message to IRS employees outlining the steps the Service will have to take to deal with the budget cuts Congress enacted late last year.
IRS: Tax Season to Start on Time
The IRS announced that tax season will start on time this year and it will begin accepting e-filed and paper returns on Jan. 20, as originally planned.
IRS Analyzes Whether Third-Party Employment Tax Returns Are Sufficient to Start Assessment Statute of Limitation
The Office of Chief Counsel analyzed whether an employment tax return prepared and filed by a third party on behalf of an employer was sufficient to commence the period of limitation on assessment for the employer under Sec. 6501.
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.
