New IRS Seizure Producers

The Internal Revenue Service now requires higher level staff to approve seizures of property for nonpayment of federal taxes.

According to information release 97-46, all proposed seizures must be approved by an IRS district collection division chief. In addition, district directors must approve all seizures that involve a taxpayers residence, its contents or perishable goods. Before this announcement, an IRS group manager could approve most seizures; district directors had to approve principal residence seizures.

IRS Commissioner Charles O. Rossotti said the higher level of approval for seizures was a step to ensure that such collection tools were used only in appropriate cases. Senate Finance Committee Chairman William V. Roth, Jr. (R-Del.), lauded the change in seizure policy and said the same safeguards should be used for IRS liens and levies. This procedural change will give taxpayers some safeguards until we have the new IRS restructuring bill approved, said Roth.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.