IRS practice & procedure

A report from the Treasury Inspector General for Tax Administration found that delayed 1099-R and W-2G filings limit the IRS’s ability to spot refund fraud early.

The IRS expanded its CP53E guidance with fresh information on QR code security, online account access problems, and how taxpayers can confirm successful bank account updates.

The final regulations published Tuesday by the IRS stick with the proposed regulations that modify information-reporting obligations for Part IV of Form 8308, Report of a Sale or Exchange of Certain Partnership Interests.

The IRS’s sending of about 1.4 million CP53E notices sparked concerns about errors and fraud. A release from the Taxpayer Advocate Service urged taxpayers to verify their accounts directly on IRS.gov.

The terms of the new, time-limited settlement opportunity include the type and amount of deduction that eligible taxpayers will be allowed and the penalty rate that will apply.

With hundreds of cases in the courts, the IRS is preparing at least its fourth settlement offer in syndicated conservation easement cases in recent years.

The IRS is reinstating the practice of issuing these letters in response to numerous informal comments from taxpayers and practitioners regarding the time required to process letter ruling requests and the scope of those requests.

A Treasury release said the changes are intended to “strengthen tax administration” and provide clearer reporting on the activities of tax-exempt organizations. No timeline was announced.

Taxpayers can explore payment plans, collection delays, or compromise offers through a streamlined, privacy protected tool.

TIGTA found the IRS spent hundreds of millions on FATCA oversight while examining only a handful of high-value foreign account cases.

The IRS said Monday it is opening the online, self-service accounts to partnerships, Indian tribal governments, tax-exempt organizations, and federal, state, and local governments.

TIGTA found the IRS spent $4.8 billion in Inflation Reduction Act funds, which were intended to supplement its annual appropriation, on labor and IT to keep the 2025 tax season on track.