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.
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TOPICS / TAX
IRS practice & procedure
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.
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.
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The IRS is struggling with how to become more efficient and serve taxpayers with lower levels of staffing and an outdated, manual service model.
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.
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.
Whistleblowers’ claims not untimely, Tax Court holds
The IRS Whistleblower Office does not have exclusive authority to investigate, the court says.
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.
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.
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.
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.
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.
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.
Managing IRS authorizations
These tools are essential to interact with the IRS on clients’ behalf.
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.
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.
Filing within 60 days before the assessment period ends
A special rule gives the IRS an extra 60 days to assess tax.
Taxes and the rescission doctrine
This doctrine allows taxpayers to “unwind” a tax transaction.
“Be on the lookout” lists gone from IRS reviews of Sec. 501(c)(4) applications
Two years after finding the IRS used inappropriate criteria when reviewing applications for tax-exempt status under Sec. 501(c)(4) and delayed the processing of some applications, the TIGTA issued a follow-up report to check on the IRS’s progress in eliminating the controversial practices.
Final regs. provide rules for assessment limitation period for undisclosed listed transactions
Generally, the IRS has three years from the later of the date the return was filed or the original due date of the return to assess tax.
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