IRS practice & procedure

TOPICS / TAX

January 7, 2019

IRS sets start date for tax season, will issue refunds during government shutdown

The IRS announced Monday evening that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

January 1, 2019

The IRS’s private debt collection program

Taxpayers who have been contacted by an IRS-contracted private debt collection agency may need professional representation to preserve their full array of repayment options.

December 19, 2018

Government shutdown would halt many IRS operations

A partial government shutdown at midnight on Friday would affect the IRS, which has not been fully funded for fiscal year 2019.

November 27, 2018

IRS issues guidance on withholding for 2019

The IRS issued a notice providing interim guidance for the 2019 calendar year on income tax
withholding from wages and from retirement and annuity distributions.

November 15, 2018

Inflation adjustments and tax tables issued for 2019

The IRS issued the 2019 annual inflation adjustments for many tax provisions as well as the 2019 tax rate tables for individuals and estates and trusts.

November 13, 2018

New IRS commissioner brings practitioner’s perspective to role

Veteran tax attorney Charles Rettig gives his first public address as new IRS commissioner, speaking to CPAs Tuesday at the AICPA National Tax Conference in Washington.

November 6, 2018

Tax preparer due diligence rules are finalized

The IRS issued final regulations on the penalty that applies to tax return preparers who fail to exercise due diligence in preparing returns for taxpayers who are claiming head-of-household filing status, the earned income tax credit, the child tax credit, the additional child tax credit, or the American opportunity tax credit.

October 1, 2018

Qualified joint ventures for spouses

A married couple can avoid the partnership filing requirements for a business they co-own by electing to be treated as a qualified joint venture.

September 17, 2018

IRS extends deadlines in N.C. counties affected by Hurricane Florence

The IRS announced that it is extending tax deadlines starting Sept. 7, 2018, until Jan. 31, 2019, for eight counties in North Carolina.

August 17, 2018

D.C. Circuit upholds IRS unenrolled tax preparer program

The Court of Appeals for the D.C. Circuit held that the AICPA had standing to challenge the IRS’s Annual Filing Season Program for unenrolled tax preparers but further held that the program did not violate the Administrative Procedure Act.

August 7, 2018

Ninth Circuit withdraws Altera opinion

The order announcing the withdrawal says it is being done “to allow time for the reconstituted panel to confer on this appeal.”

July 25, 2018

Stock-based compensation cost-sharing regs. valid

The Ninth Circuit reversed a Tax Court decision invalidating a cost-sharing regulation that requires allocation of stock-based compensation costs between related parties.

July 17, 2018

Many tax-exempt organizations no longer need to list donor information

News IRS procedures eliminate the requirement for many exempt organizations to list certain substantial donors’ names and addresses on some forms.

July 12, 2018

AICPA: 2019 Form W-4 needs to be simplified

The AICPA’s Tax Executive Committee sent a letter to the IRS, urging the Service to simplify the proposed draft 2019 Form W-4, Employee’s Withholding Allowance Certificate.

July 10, 2018

Tax practitioners are warned to safeguard client data

The IRS warned that it is increasingly difficult for it to recognize fraudulent tax returns as cybercriminals succeed in getting more and more accurate information.

July 1, 2018

Claiming child tax benefits for noncustodial parents

IRS guidance on the waiver of a dependency exemption remains significant with the newly enhanced child tax credit.

July 1, 2018

Explaining refund payment delays to clients

PATH Act provisions and IRS security filters can often hold up the processing of legitimate refunds.

July 1, 2018

Charitable contribution deduction denied for conservation easement

The taxpayer expected a substantial benefit from the donation, the court holds.

July 1, 2018

IRS clarifies identity theft procedures

An affidavit is needed only when an unauthorized return has been filed using the taxpayer’s Social Security number.

July 1, 2018

First Circuit allows DISC dividends paid to Roth IRAs

The IRS suffers its second defeat when the First Circuit, agreeing with the Sixth Circuit, denies application of the substance-over-form doctrine to recharacterize DISC commissions and dividends as excess Roth contributions.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.