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Confidentiality

New Regs. Govern Overseas Disclosure and Use of Taxpayer Information

The IRS issued final regulations under Sec. 7216 to update the existing rules to address current tax industry practices, such as electronic preparation and filing, expanded tax and nontax service offerings, and resource sharing across national borders.

Temp. Regs. Give Guidance on Return Preparer Information Disclosures

The Service released final and temporary regulations that govern the disclosure of a taxpayer’s Social Security number to overseas return preparers (T.D. 9409; REG-121698–08). Under the temporary regulations, such disclosure will be permitted in limited cases, with the taxpayer’s consent. Return preparers are generally forbidden to disclose a taxpayer’s Social

Sec. 7216 Regulations

The AICPA Tax Division has formed a task force to review the impact of final regulations released by Treasury and the IRS in January 2008, involving the disclosure and use of tax return information by tax return preparers under Sec. 7216.

PRACTICE MANAGEMENT

2026 tax software survey

CPAs rate their return preparation software’s performance during this year’s tax season.

Tax Clinic

Gift or hold? Basis step-up and transfer tax planning after H.R. 1

Practical considerations for deducting abandoned M&A transaction costs

Tax-aware investing strategies: Clearing the hurdles

OID in modern corporate debt: Timing, yield, and reporting considerations

Permanent establishment risk from remote work and the OECD’s new guidance