Tax news July 2006

Technology

IRS Warns Phishing Scams Increasing

The Internal Revenue Service (IRS) is reminding taxpayers to be on the lookout for bogus e-mails claiming to be from the tax agency, on the heels of a recent increase in scam e-mails.In recent weeks the IRS has experienced an increase in complaints about e-mails designed to trick the recipients into disclosing personal and financial information that could be used to steal the recipient’s identity and financial assets. Since November, 99 different scams have been identified.
Technology

Employers Seek Alternatives for Easing Costs of Going to Work

With gas prices still high and possibly going higher, companies are trying to help their employees save money on their daily commutes by signing up for commuter tax benefit programs and discount programs with local mass transit and offering transportation subsidies, the Associated Press reports. Employers can also reap tax benefits from those participating in the commuter tax program which can help them to retain their employees.
Tax

IRS Issues Statement Regarding Telephone Tax and Nonfilers

The Internal Revenue Service (IRS) has issued the following statement regarding the issues raised by the recently amended complaint, Sloan et al v. United States of America, filed in the U.S. District Court of the District of Columbia.“The IRS wants to make it as easy as possible for all telephone customers to get a refund of the long-distance excise taxes they paid. This includes low-income people who are often not required to file federal income tax returns.
Tax

Planned Phone Tax Refund Rules Allegedly Unlawful, Unfair & Exclusionary

An amended complaint has been filed in the U.S. District Court of the District of Columbia asserting the Internal Revenue Service (IRS) devised rules effectively denying refunds to and shortchanging American taxpayers, entitled to refunds, by billions of dollars. The amended class action lawsuit, Sloan et al v.
Tax

Nonprofits, Government Entities Wearing Their Own SOX

Four years after its enactment, the Sarbanes-Oxley (SOX) accounting reform law, designed primarily for public company reporting, is having major impact on the nonprofit sector and on state and local governments.“Sarbanes-Oxley’s impact has been far broader than its supporters intended or envisioned,” James K. Gentry, a professor and former dean of the School of Journalism and Mass Communications at the University of Kansas, writes in a posting on the businessjournalism.org Web site. The impact has been especially pronounced on nonprofits.
Tax

Temporary Change of IRS Address for Certain Hand-Delivered Documents

Because of the temporary closure of the main Internal Revenue Service (IRS) headquarters building there is a temporary change of address for the delivery of taxpayer requests for rulings, requests for determination letters, Applications for Change in Accounting Method (Form 3115), and similar requests that are permitted to be hand-delivered to the main IRS Headquarters Building.Until further notice, these requests and applications should be delivered to the IRS offices at 950 L’Enfant Plaza, 5th Floor, Washington D.C., 20024.Complaints, subpoenas or any other service of process, as wel

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