While taxpayers have no duty to correct an error or omission in a filed return, practitioners must inform them of the consequences.
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TOPICS / TAX
IRS practice & procedure
Taxpayer claims the IRS lost her return; bankruptcy court discharges debt
The Service fails to prove that it never received the return.
Seventh Circuit holds that taxpayer filed timely Tax Court petition
A taxpayer whose lawyer used print-at-home postage when mailing a Tax Court petition timely filed that petition, the Seventh Circuit Court of Appeals held, reversing and remanding the case to the Tax Court for consideration on the merits.
Inflation adjustments for 2017 issued for employer-provided vehicles
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.
Guidance issued on de minimis safe harbor for information returns/payee statements
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.
Abating IRS penalties
Follow these recommendations for reducing or eliminating common tax penalties.
Dealing with tax carryovers when a spouse dies
Proper allocation of tax carryovers is critical in the year one spouse dies.
Getting in shape for tax season
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.
Regulations implement new due-diligence requirements for tax return preparers
Recent legislation added these requirements, which previously applied only to the earned income tax credit.
New online tool allows taxpayers to check IRS account information
The IRS has launched an online tool that allows individual taxpayers to get their account balances online, including tax due, penalties, and interest.
IRS announces start of e-Services re-registration
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.
IRS extends due dates for PPACA forms and penalty relief
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.
No delays anticipated in 2017 tax filing season, IRS commissioner says
IRS Commissioner John Koskinen reassured tax practitioners attending the AICPA’s National Tax Conference that the 2017 tax filing season should start on time.
What you need to know to bring a nonfiler back into compliance
It can take months to get a nonfiler back into compliance with the IRS.
IRS warns tax professionals of another email phishing scam
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.
Identity theft safeguards to expand for 2017
The IRS, state tax agencies, and industry partners announced expanded and improved tax return identity theft safeguards for the 2017 filing season.
New user fees proposed for IRS installment agreements
The fee for an online application with direct debit would be $31; for some application and payment methods, it would increase.
IRS issues guidance on ITIN renewals
Under new PATH Act provisions, the numbers expire after 3 years of nonuse.
IRS issues 2017 inflation adjustments for many tax provisions
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.
PTIN class action lawsuit affects all tax return preparers
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.
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