The IRS has decided that, as a result of the recent decision preventing it from regulating unenrolled tax return preparers, disbarment or suspension from practice before the IRS cannot include a ban on tax return preparation or blocking an individual’s PTIN.
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TOPICS / PROCEDURE
Representations & Examinations
AICPA Has “Deep Concerns” About IRS Voluntary Certification of Return Preparers
The AICPA sent the IRS commissioner a letter expressing its “deep concerns” about a program for voluntary certification of tax return preparers.
Decision Striking Down Tax Return Preparer Regulations Upheld on Appeal
The IRS’s attempt to regulate unenrolled tax return preparers was dealt another blow when the D.C. Circuit Court of Appeals held that the agency exceeded its statutory authority by issuing regulations imposing various requirements on tax return preparers.
D.C. Circuit Affirms Decision Striking Down Tax Return Preparer Regs.
The IRS’s attempt to regulate unenrolled tax return preparers was dealt another blow when the D.C. Circuit Court of Appeals held that the agency exceeded its statutory authority when it issued regulations imposing various requirements on tax return preparers.
Large Tax Preparation Franchise Company Closed by Court Order
A federal district court in Ohio has issued a permanent injunction ordering ITS Financial LLC, the parent company of Instant Tax Service tax franchiser, to cease operations. The order, which was issued as a result of a two-week trial in June, also bars Fesum Ogbazion, the sole owner and CEO of ITS Financial, from operating or being involved with any business relating to tax-return preparation.
TIGTA Report Studies Assessment and Enforcement of Sec. 6694 Paid Preparer Penalties
TIGTA studied how effective the IRS is in using the requirements and penalty regime that apply to tax preparers. The TIGTA study attempted to determine whether controls are in place to ensure that the IRS effectively enforces and applies penalties to paid preparers as required by Sec. 6694.
Tax Return Preparers Suspected of Filing Inaccurate EITC Claims to Be Targeted by IRS
The IRS announced in an email to tax practitioners that it will send letters in November and December to return preparers “suspected of filing inaccurate EITC claims.”
Permanent Injunction Closes Large Tax Preparation Firm
A federal district court in Ohio has issued a permanent injunction ordering ITS Financial LLC, the parent company of Instant Tax Service tax franchiser, to cease operations.
IRS Oversight of CPAs Who Provide Valuation Services
With the enactment of Sec. 6695A, the IRS was given new responsibilities to ensure the quality of appraisals and appraisers who provided information in support of a taxpayer’s federal tax filings.
PTIN Renewal System Reopens
Two weeks after the end of the government shutdown, the IRS reopened its registration system for renewing preparer tax identification numbers (PTINs) for the 2014 filing season.
New York State Proposes to Regulate Tax Return Preparers
The New York State Department of Taxation and Finance has proposed amendments to its Personal Income Tax Regulations and Procedural Regulations to regulate tax return preparers.
Appeals Court Refuses to Lift Injunction in Return Preparer Regulation Case
The IRS lost another round in its court battle over its plan to regulate tax return preparers when the D.C. Circuit denied its motion to stay an injunction halting the IRS’s return preparer regulation program.
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.
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
Appeals Court Denies IRS Request for Stay in Return Preparer Regulation Case
The IRS lost another round in its court battle to regulate tax return preparers when an appeals court denied its motion to stay an injunction halting its return preparer regulation program, pending appeal of a lower court’s decision.
IRS Regulation of Tax Return Preparers Struck Down
A U.S. district court ruled that the IRS’s registered tax return preparer program exceeds its statutory authority and enjoined it from enforcing the regulations.
IRS Appeals Decision Striking Down Tax Return Preparer Registration Program
The IRS filed an appeal of the decision that struck down the IRS’s registered tax return preparer program and enjoined it from enforcing the regulations.
Court Upholds Injunction; IRS Reopens PTIN System
The IRS announced that has reopened its PTIN system for new applications and renewals.
IRS Files Motion to Suspend Injunction in Return Preparer Regulation Case
The IRS filed a motion in federal court to suspend an injunction that forbids it from continuing with its registered tax return preparer program, pending appeal of the case
Federal Court Strikes Down IRS Tax Return Preparer Registration Program
A federal district court struck down the IRS’s registered tax return preparer program and enjoined it from enforcing the regulations.
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
