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The inquiry posed seven specific questions to the IRS concerning the decision, how it was arrived at, its potential effects and whether the Service has destroyed such documents before processing them at any other time.
Fourteen GOP members of the Senate Finance Committee added their voices to National Taxpayer Advocate Erin Collins’s recent directive to the Internal Revenue Service relating to processing of paper-filed returns.
The IRS administered the recovery rebate credit correctly for all but 0.7% of returns in the 2021 filing season, the Treasury Inspector General for Tax Administration found.
Employees may exclude from gross income the value of leave donated to their employers funding payments to relieve victims of the Russian invasion of Ukraine.
The US Government Accountability Office found disparities in the distribution of some tax items, but notes impediments to knowing taxpayers’ race, ethnicity, and sex.
Officials from the IRS and the US Government Accountability Office address legislators’ questions on taxpayer service and enforcement across income levels.
In a study, the US Government Accountability Office finds that the IRS’s individual tax audit rates decreased by 72% during 2010–2019, and by a greater percentage for higher-income taxpayers than for lower-income ones.
Three CPAs discuss the importance of planning to have a debrief after an intense period of work, whether tax season or a busy sales cycle, in this podcast with transcript.
The IRS responds to a report by the Treasury Inspector General for Tax Administration that pointed to the March 2021 incident as one example demonstrating a need for the Service to increase e-filing options.
A CPA describes his journey from a small practice to advising the IRS and Congress on issues of tax policy and administration.
The Treasury Inspector General for Tax Administration finds a lack of coordinated effort across the IRS to fulfill opportunities for wider electronic return filing.
The IRS provides two simplified filing methods for bona fide residents of Puerto Rico to claim the child tax credit.
The Treasury Inspector General for Tax Administration issues a preliminary assessment of the IRS’s performance in the recently concluded period for income tax filings.
A PMTA disagrees with a prior letter ruling.
State law treats heirs as unsecured creditors.
The IRS’s interpretation of a conservation easement rule is struck down.
Parents pursuing an adoption can use a CPA’s advice.
IRS to fast-track 10,000 hirings to address backlog ... National taxpayer advocate to CPAs: Tell us where the challenges are ... Proposed regulations update RMDs for SECURE Act changes ... IRS offers alternative to facial recognition
Health savings account maximum contributions, along with minimum deductibles and maximum out-of-pocket expenses of accompanying high-deductible health plans, will be higher next year.
The IRS delays e-filing capability for schedules reporting S shareholders’ items of international tax relevance, earlier forecast for mid-June, to July 24.
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Implementing lease accountingFASB’s Codification (ASC) 842, Leases, requires companies to make significant changes in the way they report operating leases. But one of the initial challenges might be simpler than you think … find out more with this report.
