The IRS has expanded its Law Enforcement Assistance Program on identity theft to all 50 states and the District of Columbia.
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TOPICS
IRS Practice & Procedure
Promoting Fictitious Bonds for Tax Payments Leads to Conviction for “Sovereign Citizen”
A proponent of the “sovereign citizens” movement has been convicted of conspiracy to defraud the United States through a series of seminars in which attendees were taught to pay their federal income taxes by filing fictitious bonds.
Suspension of Tangible Property Capitalization Issue Examinations Extended
The IRS posted an updated directive for field examinations on the repair vs. capitalization issue that extends the suspension of examinations.
Oklahoma Tornado Victims Get Tax Filing and Payment Extensions
The IRS announced relief from filing and payment deadlines for victims of Monday’s destructive tornadoes in Oklahoma.
Final Rules Require EIN Updates
The IRS issued final regulations requiring taxpayers that obtain EINs to update their information with the IRS.
Statute of Limitation Tolled by Fraudulent Tax Returns
The Second Circuit held that the filing of fraudulent tax returns for a corporation by an accountant to embezzle money that was owed to the IRS was an intentional evasion of taxes that tolled the statute of limitation on assessment.
Prop. Regs. Allow Material Advisers to Request Extension
The IRS issued proposed regulations governing the penalty for failure of material advisers to provide lists of advisees in reportable transactions.
IRS Appeals Tax Return Preparer Registration Decision
The IRS filed a Notice of Appeal to the D.C. Circuit of the Jan. 18 district court decision that struck down the IRS’s registered tax return preparer program and enjoined it from enforcing the regulations.
AICPA Makes Tax Reform Recommendations to Ways and Means Committee Working Groups
The AICPA submitted recommendations for tax reform to five of the 11 working groups the House Ways and Means Committee has formed.
IRS Decides to Shut Down Completely on Furlough Dates
The IRS will close “all public-facing operations,” including toll-free operations and Taxpayer Assistance Centers, on five dates in response to the budget cuts from sequestration.
Witnesses Tell Senate Finance Committee Ways to Improve Tax System
Witnesses gave the Senate Finance Committee a variety of suggestions on how to fight tax identity theft and fraud, reform the tax system, and fund the IRS during a hearing on Tuesday.
Significant Decline in IRS Staff Leads to Fewer Audits
The IRS plans to expend 18% fewer staff hours auditing large businesses with assets of more than $10 million in fiscal year 2013.
Incorrect Expert Advice About Estate Return Filing Deadline Does Not Excuse Penalty
An executor who relied on his accountant’s mistaken advice that he had obtained a one-year extension of the filing due date for Form 706 was nonetheless liable for a large late-filing penalty.
U.S. Withholding Tax Requirements on Payments to Nonresidents and Foreign Entities
This item provides an overview of the types of income subject to U.S. withholding tax and related U.S. information reporting requirements.
Expanded Due-Diligence Requirements for 2012 Returns
This item discusses Form 8867, Paid Preparer’s Earned Income Credit Checklist, extensive new due-diligence requirements for wage earners, and Schedule C, Profit or Loss From Business
Is Tax Identity Theft Becoming an Epidemic?
As the primary resource for many client questions on both tax and IRS procedure, tax advisers should understand the issues surrounding identity theft.
Details of IRS Expanded Policy of Restraint Not Yet in IRM; Range of Applicability Unclear
Though the IRS in 2010 expanded its policy of restraint in requesting audit and tax accrual workpapers, it has not yet updated the Internal Revenue Manual to reflect those changes.
Bankruptcy and the Trust Fund Recovery Penalty
When a corporation fails to remit the withheld taxes to the government, the IRS looks through the corporation to the individual or individuals who are responsible for the failure.
IRS’s Identity Theft Liaison Pilot Program with Law Enforcement Expands to 50 States
The IRS announced the expansion of its Law Enforcement Assistance Program on identity theft to 50 states and D.C.
IRS Extends Suspension of Examinations of Tangible Property Capitalization Issues
The IRS posted an updated LB&I Directive for field examinations on the repair vs. capitalization issue that extends the suspension of examinations
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.
