The IRS released its annual notice containing the 2017 inflation-adjusted amounts for the maximum vehicle values to determine the amount that is included in employees’ income for personal use of an employer-provided vehicle.
IRS practice and procedure
The IRS issued a notice that provides the requirements for a payee to make an election to not have the safe harbor for de minimis errors on information returns below certain amounts apply to a payer.
Follow these recommendations for reducing or eliminating common tax penalties.
Proper allocation of tax carryovers is critical in the year one spouse dies.
The annual marathon of forms, schedules, and worksheets is beginning once more. As CPAs and their staffs train and ready their equipment, they might add these reminders of what’s new and notable for 2016 returns.
Recent legislation added these requirements, which previously applied only to the earned income tax credit.
The IRS has launched an online tool that allows individual taxpayers to get their account balances online, including tax due, penalties, and interest.
As part of its latest efforts to prevent cybercrime, the IRS said it will begin sending letters to currently registered e-Services users asking them to re-register within 30 days of the date of the letter or risk being shut out of the system.
In response to concerns from employers, insurers, and other providers of minimum essential coverage, the IRS announced that it is extending the due dates for certain health care forms required under the Patient Protection and Affordable Care Act.
IRS Commissioner John Koskinen reassured tax practitioners attending the AICPA’s National Tax Conference that the 2017 tax filing season should start on time.
It can take months to get a nonfiler back into compliance with the IRS.
The IRS issued an “urgent alert” to tax practitioners who use IRS e-services to beware of a fraudulent email asking them to update their accounts and directing them to a fake website.
The IRS, state tax agencies, and industry partners announced expanded and improved tax return identity theft safeguards for the 2017 filing season.
The fee for an online application with direct debit would be $31; for some application and payment methods, it would increase.
Under new PATH Act provisions, the numbers expire after 3 years of nonuse.
The IRS issued its annual revenue procedure containing inflation-adjusted amounts for the 2017 tax year, affecting over 50 Code provisions, as well as the new tax rate tables for individuals and estates and trusts.
A class action lawsuit currently pending in a federal district court includes in its class of plaintiffs all tax return preparers who obtained or renewed a PTIN after Sept. 30, 2010.
Despite shorter average wait times this year, using the Practitioner Priority Service can still be an ordeal, surveys suggest.
Under legislation enacted last year, the IRS is required to use private debt collection agencies to collect outstanding inactive tax liabilities.
The IRS announced that beginning in late October all e-services users will be subject to a strengthened identity protection process, which, for existing users, requires re-registering.