The legislation, which was supported by the AICPA, was passed in the Senate earlier this month and in the House yesterday. The bill will make federal government spending data publicly available online.
The agency estimated last week that approximately 5 million taxpayers will amend their federal income tax returns by filing Form 1040X this year. Those who need to amend their returns should do so only after filing the original return.
The IRS strongly encouraged taxpayers to file their 2013 federal income tax return electronically versus mailing a paper return to the agency. So far, 88 percent of the returns the IRS received this tax season were e-filed.
The ex-KPMG senior audit partner was sentenced on Thursday for providing inside information about several of his firm’s clients to a friend, who used it to make at least $1.6 million in illicit profits.