In addition to disrupting people’s lives and the economy, government shutdowns also significantly affect IRS operations and taxpayer rights.
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TOPICS / PROCEDURE
Tax Planning; Tax Minimization
Former Rep. Dave Camp Advocates Tax Reform to Help U.S. Economy
The former representative said tax reform is still needed to grow the U.S. economy and improve its global competitiveness.
Congress Passes Extender and Other Tax Legislation
The omnibus spending bill passed by Congress on Friday, which extends a long list of expired tax provisions, also contains a large number of other tax items.
Bill with Passport and Third-Party Tax Collection Provisions Passes Congress
The highway funding bill passed by Congress includes provisions that will allow the government to revoke the passports of seriously delinquent tax debtors and will require the IRS to use third-party debt collectors.
DOL Issues Guidance Concerning Misclassification of Employees and Independent Contractors
The DOL’s Wage and Hour Division issued an
Administrator’s Interpretation addressing worker misclassification, which may deny employees significant workplace protections and lower tax revenues.
Lower Tax Rates, Territorial Regime Are Still Priorities, Former Ways & Means Chair Tells AICPA
Former Rep. Dave Camp highlighted for the AICPA the key issues that should remain a major focus of broader tax reform efforts.
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.
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).
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.
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.
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.
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 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.
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.
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.
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.
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.
Rep. Ryan Addresses Spring AICPA Council Meeting
Rep. Paul Ryan, chairman of the House Ways and Means Committee, outlined his priorities since taking over committee leadership.
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.
