The AICPA National Tax Conference heard from National Taxpayer Advocate Nina Olson about particular taxpayer quandaries and needs.
This article discusses a few key things practitioners should know about FBAR cases.
The IRS posted guidance for the public explaining how it will be operating now that the shutdown has ended, to catch up on its backlog in audits, collections, tax return processing, and Tax Court cases.
The partial shutdown of the federal government ended just in time to allow the full IRS workforce to return to work for the start of tax season.
Practitioners should be aware of changes to the due-diligence requirements for returns that claim the earned income tax credit, the American opportunity tax credit, and/or the child tax credit.
The relief applies to individuals whose tax withheld and estimated tax payments equal at least 85% of the tax shown on their 2018 tax return.
The IRS issued an updated contingency plan outlining how it will function during tax season.
The IRS announced that its Free File program, which provides free electronic filing options to moderate-income taxpayers, opened Jan. 11 and will operate through Oct. 15.
The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.
Tax refunds that count as "public assistance benefits" may be exempt in bankruptcy.
A TIGTA audit report examined tip-related tax noncompliance and made nine recommendations to the IRS.
Notice 2018-76 generally allows a taxpayer a 50% business deduction for meals associated with an entertainment activity to the extent that the meals are purchased separately from the entertainment, or the cost is stated separately from the entertainment cost on the receipt.
It was not an abuse of discretion for an IRS settlement officer to reject an offer in compromise where the taxpayer failed to document his assets or financial condition.
This article explains debt resolution methods, how tax practitioners can assist taxpayers in the process of resolving a liability, and how taxpayers can administratively appeal adverse IRS collection determinations.
A substantial-authority scorecard and example for excluding Sec. 1202 gain for a carried partnership interest
Keeping a “scorecard” of the weight of authorities on a particular position can be helpful to determine the objective merits of a tax position.
A transferee could be liable for a transferor’s tax debts if property is purchased for less than fair value.
The IRS LB&I identified 10 new campaigns that expand the focus areas under its issue-based examination program.
The IRS’s statutorily mandated private debt collection program creates numerous hazards for unsuspecting taxpayers, allows fewer payment and negotiation options than direct contact with the IRS, and has not been cost-effective.
As a result of feedback from payroll and tax professionals, the IRS will postpone the extensive changes it had planned to the 2019 Form W-4.
The IRS can take advantage of several rules to ensure related-party transactions do not result in tax evasion or an improper reflection on income.