After reviewing all 105 Treasury regulations issued in 2016 and early 2017, the Treasury Department has identified eight that cost too much, are too complex or exceed the IRS’s statutory authority.
IRS Practice and Procedure
The IRS and the Department of Justice indicate an increase in efforts to counter growing noncompliance.
The Service says courts erred in decisions on the placed-in-service date of a retail store, the use of the completed-contract method, and an S corporation's payment of an employee's personal expenses.
The revenue procedure covers amended returns claiming property expensing, qualified real property, and bonus depreciation transition rules.
The orders include one directing Treasury to target recent burdensome, complex, or overreaching IRS regulations.
The system had been down since early June, after a federal court held that the IRS cannot charge a PTIN fee.
The D.C. District Court held that the IRS has the authority to require preparers to use preparer tax identification numbers (PTINs) but that it cannot charge fees for issuing PTINs.
The payee's failure to explicitly reject a check outweighs the payer's restrictive endorsement.
A district court applies the Loving decision.
Audit risks persist past the otherwise applicable limitation period.
President Donald Trump’s proposed FY 2018 budget includes a new proposal to give the IRS authority to regulate paid tax return preparers.
The 2017 appropriations bill passed by Congress includes $11.2 billion for IRS operations and enforcement. But it also includes specific directives prohibiting certain IRS conduct.
The details of a recent data breach affecting 100,000 taxpayers were revealed in testimony before the House of Representatives Oversight and Government Reform Committee in Washington.
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.
Procedures provide an alternative to filing a Tax Court petition.
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.
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.
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.
The IRS announced that it would grant “eligible taxpayers” who are affected by this week’s winter storm on the East Coast extra time to file their requests for filing extensions.
The IRS issued its roundup of the 12 biggest tax scams that taxpayers should watch out for this filing season.