Paper Chase

The IRS lacks an effective means of keeping track of paper case files, sometimes hampering its litigation and forcing it to abandon revenue claims, a Government Accountability Office study found. In two audits by the GAO, the IRS couldn’t produce between 10% and 14% of the case files requested. In a similar check by the Treasury Inspector General for Tax Administration, the IRS was unable to come up with 19% of requested case files. Paper case files are generated by audits, examinations and court cases. In each of several court cases, the IRS lost $40,000 in revenue because it could not locate case files, the GAO said. Moreover, the IRS doesn’t track its performance in retrieving files and transmitting them promptly or analyze why they go missing, the GAO said. In response, the IRS said it will review its record management program and take corrective measures.


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.