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TOPICS / TAX

Tax principles for the digital age

The AICPA revises its Guiding Principles of Good Tax Policy to respond to challenges in tax reform, economic efficiency, global reach, and securing taxpayers’ information.

IRS enforcement activities dropped in 2016

The IRS reported several large drops in its enforcement activities in fiscal year 2016, including a 16% drop in audits, a 40% drop in levies, and a 9% drop in liens compared to the prior year.

Use of driver’s license numbers raises security concerns

The decision of the IRS and some states to recommend—or, in a few cases, require—the use of driver’s license numbers as form of authentication on electronically filed personal tax returns has made them a higher-value target for hackers and other criminals.

Disbarred tax preparer not subject to IRS jurisdiction

The IRS Office of Professional Responsibility has no authority or jurisdiction over a disbarred attorney/tax preparer or his tax preparation practice and cannot regulate his provision of tax advice a federal district court in Nevada has held.

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How to protect nonprofits from hidden fraud risks

CPAs can help not-for-profits spot the red flags of common schemes, so they can take steps to tighten controls and reduce exposure.