TIGTA: IRS inefficiencies worsened backlog
An audit by the Treasury Inspector General for Tax Administration recommends improvements in staff deployment, equipment and procedures.
IRS practice & procedure
Individual taxpayers must answer cryptoasset question, IRS notes
Front and center on Form 1040 is whether taxpayers had a virtual currency transaction.
Commissioner to Congress: IRS will clear backlog by year’s end
Testifying before a House subcommittee, Charles Rettig describes progress in meeting lingering pandemic challenges.
TIGTA: IRS beset by processing backlogs, hiring lags in 2021
A review by the Treasury Inspector General for Tax Administration assessed the IRS’s 2021 performance, customer service issues and administration of tax law changes.
Auto depreciation limits leap with inflation
The IRS issued its annual inflation-adjusted update of depreciation limitations for passenger automobiles, including passenger vans and trucks, placed in service in 2022.
IRS waives estimated-tax penalties for farmers and fishermen
The IRS, citing earlier problems e-filing a new form reporting S corporation owners’ basis, has granted relief to certain farmers and fishermen who missed their March 1 filing deadline.
Congress to hear from IRS commissioner on filing season
AICPA President and CEO Barry Melancon welcomes Charles Rettig’s testimony, urges additional taxpayer relief.
IRS direct-hiring 5,000 in service centers
The IRS will hold in-person and virtual “hiring events” this month to begin filling positions in three service centers.
The power of technology to change how CPAs think about value
A CPA technology expert shares what the future holds for client advisory services, how training should be tailored, and what she learned about her grandfather’s CPA practice.
New, lower Form 1099-K threshold prompts cautions, criticisms
The new, lower $600 reporting threshold for reporting credit card and cash payment app transactions will likely lead to problems for taxpayers and payment settlement entities, the Taxpayer Advocate Service warns.
IRS to fast-track 10,000 hirings to address backlog
Direct-hire authority will allow the Internal Revenue Service to more quickly reinforce its return processing and account management functions.
National taxpayer advocate to CPAs: Tell us where the challenges are
CPAs and other tax professionals can help the Taxpayer Advocate Service identify the most acute problems within the IRS.
IRS offers alternative to facial recognition
A short-term option involves a virtual interview with IRS personnel to authenticate taxpayers’ and practitioners’ identities for online services.
AICPA testifies to Congress on IRS service problems
In a hearing, the Senate Finance Committee heard recommendations from the AICPA’s Jan Lewis and National Taxpayer Advocate Erin Collins.
Tax pros are subject of ‘spearphishing’ attacks
Bogus emails may impersonate the IRS or tax software providers. Here’s what to watch out for.
IRS offers further K-2/K-3 relief
The new schedules for returns of passthrough entities with international items have been greeted with antipathy by practitioners. The IRS provided relief Wednesday for eligible entities for tax year 2021.
Revised voluntary disclosure form highlights cryptoassets
Full disclosure of violations, plus payment of taxes, penalties and interest may allow approved taxpayers to avoid criminal prosecution. The reporting form contains a new reporting section and instructions on virtual currency.
IRS service issues: What a coalition of tax pros seeks to change
Relief for underpayment or late-payment penalties is one recommendation that would help to mitigate IRS service issues, according to an AICPA-led coalition. Hear or read more in this podcast episode with transcript.
IRS identifies paused taxpayer notices
While it works through its return and correspondence backlog, the IRS will not send out certain letters and notices, including for delinquent returns and payments.
Tax pros share IRS service challenge stories, solutions
The Tax Professionals United for Taxpayer Relief Coalition held an online session to examine possibilities of its four recommendations for improved IRS assistance and taxpayer relief.
