IRS practice & procedure

TOPICS / TAX

November 1, 2015

IRS ends automatic extensions for Forms W-2

Allowing only nonautomatic extensions is intended to help deter fraudulent returns using stolen taxpayer identities.

October 29, 2015

PTIN user fee will be lowered

The IRS issued regulations lowering the fee for PTINs, effective for the coming filing season, from $50 to $33, effective Nov. 1, 2015.

October 21, 2015

IRS issues 2016 inflation adjustments and tax tables

The IRS issued the annual inflation adjustments for 2016 for more than 50 tax provisions as well as the 2016 tax rate tables for individuals and estates and trusts.

October 20, 2015

IRS announces progress in collaborative fight against tax return identity theft

Six months after announcing it was partnering with state tax authorities, tax preparation companies, and other interested parties, the IRS said it is making progress in the collaborative effort to fight identity theft.

October 19, 2015

Why new tax return due date changes are important

This article examines why the tax return due date change was needed and what it means for practitioners.

October 7, 2015

IRS gives South Carolina flood victims tax relief

The IRS announced that taxpayers who live or have a business in the South Carolina counties that have been declared disaster areas will have extra time to file their returns and pay any taxes owed.

October 5, 2015

The IRS digital-first future needs to start now

The IRS is struggling with how to become more efficient and serve taxpayers with lower levels of staffing and an outdated, manual service model.

October 1, 2015

Return due dates changed

Tax provisions in the highway funding act also overturn the Supreme Court’s Home Concrete holding that an overstatement of basis does not cause a substantial omission of gross income triggering the extended six-year statute of limitation for assessment.

September 15, 2015

AICPA expresses concerns about tax return preparer legislation

The proposed grant of authority to the IRS to regulate all aspects of tax practice is overly broad, the AICPA said in a letter to the Senate Finance Committee.

September 1, 2015

Whistleblowers’ claims not untimely, Tax Court holds

The IRS Whistleblower Office does not have exclusive authority to investigate, the court says.

August 12, 2015

Temporary regulations end automatic extension for Forms W-2

In a move designed to fight taxpayer identity theft and tax fraud, the IRS will eliminate automatic extensions of time to file forms in the W-2 series, starting in 2017.

August 1, 2015

FBAR penalty amount guidelines set

Maximum penalties for willful failure to report foreign bank accounts on FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), for multiple years are limited under new IRS procedures.

July 31, 2015

Return due dates changed in highway funding bill

The federal highway funding extension bill passed by Congress contains several tax provisions, including changing the due dates for partnership, S corporation, and corporate tax returns, a provision the AICPA has long advocated.

July 23, 2015

Regulations provide guidance on proper place to file refund claims

The new rules generally require taxpayers filing claims for refund or credit to file their claim with the IRS service center at which the taxpayers currently would be required to file a tax return for the type of tax to which the claims relate.

July 15, 2015

National taxpayer advocate: IRS falling down on the job of helping identity theft victims

Fewer than 10% of callers to the IRS’s phone line for victims of identity theft got through to an IRS assistor during some of the busiest weeks of tax season.

July 13, 2015

Emerging tax issues cause due-diligence problems

Speaking at an IRS Nationwide Forum in Fort Washington, Md., the deputy director of the IRS Office of Professional Responsibility warned practitioners that they should exercise due diligence when advising clients on emerging tax issues.

July 1, 2015

Managing IRS authorizations

These tools are essential to interact with the IRS on clients’ behalf.

July 1, 2015

Criminal investigations down in staffing and investigations

The number of new IRS criminal investigations fell markedly in fiscal 2014 from the year before, the Service’s Criminal Investigation Division reported.

July 1, 2015

Final regs. provide rules for assessment limitation period for undisclosed listed transactions

Coordination with the general limitation period for assessment and the effect of information furnished by a material adviser are among the points addressed.

July 1, 2015

Filing within 60 days before the assessment period ends

A special rule gives the IRS an extra 60 days to assess tax.

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.