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Tax

IRS Issues 2016 Deduction Limits for Health Savings Accounts

Limitation is $3,350 for individuals with self-only coverage under high-deductible plan; $6,750 for family coverage.
Tax

IRS Showing Improvement in Processing Political Groups’ Tax-Exempt Applications

IRS has completed processing for 149 of the 160 tax-exempt applications that had remained open at the end of 2012.
Tax

IRS: Exempt Organizations Must File 990-Series Forms by May 15

Agency cautions tax-exempt groups not to include Social Security numbers or other personal information on forms.
Tax

AICPA Sends IRS Tax-Related Recommendations for Priority Guidance Plan

The US Treasury and the IRS use the plan each year to identify and prioritize tax issues that should be addressed.
Tax

IRS Penalty Relief Program Available for Small Business Retirement Plans

Under pilot program, late filers would be given until June 2 to file their required annual returns without penalty.
Tax

How Long Did the IRS Keep Taxpayers on Hold During Filing Season?

A TIGTA report found that millions of calls to IRS help centers from people seeking tax advice went unanswered.
Tax

Senator Orrin Hatch to IRS: Let’s Get Fiscal!

In a letter to IRS Commissioner John Koskinen, Hatch criticized the IRS for “wasteful spending,” including expenditures for a stair-climber and give-away toy items.
Tax

California and Colorado Are the Worst States for IRS Audits: Study

Report by TaxAudit.com reveals where taxpayers are most likely to be audited by either the IRS or by their state.
Tax

April Showers Bring More Criminal Prosecutions by the IRS

An analysis of government data shows that many IRS prosecutions are timed to coincide with tax-filing season.
Tax

Identity Theft Victims Are Waiting Months for Their Tax Refunds, TIGTA Says

In FY 2013, the IRS took on average 278 days to resolve the tax accounts of identity theft victims due a refund, a report found.
Tax

Interest Rates Will Remain Unchanged for Q2 of 2015, IRS Says

Set to begin on April 1, the interest rates are computed from the federal short-term rate, determined last January.
Tax

IRS Chief: 2015 Tax-Filing Season ‘Going Well’ Despite Agency Woes

John Koskinen said this week that the fact tax season started on time is a “stunning achievement by our employees.”
Practice

Is Your Number Up? PTIN Rules You May Not Have Known

You know you need a PTIN—but learn little-known details that can save you hassles later.
Tax

IRS Is Allowing Taxpayers to Make Appointments at 10 Walk-in Assistance Centers

The IRS hopes the new appointment-based service approach will help taxpayers avoid long lines this tax season.
Tax

IRS Says 2015 Tax-Filing Season Is Strong Out of the Gate

Of the more than 14 million federal income tax returns the IRS received as of Jan. 31, 95 percent were e-filed.
Tax

A Special Message—and Poll—for Our Readers at Tax Season

Take a look at all we have going for you this time of year—and help us choose a new image.
Tax

As Tax Season Rolls Along, IRS Launches New Return Preparer Online Directory

Need help finding a credentialed tax pro to prepare your Form 1040? Well, the IRS has just the tool for you.
Tax

During Tax Season, Post Office Deadlines Can Mean Everything

Revenue recognition can also be a tax issue: in what year did you really receive that money?
Practice

The 2015 Tax Season Is Going to Suck, According to the Taxpayer Advocate

Essentially, taxpayers can expect the worst level of service in more than a decade. Here are the reasons why.

Don't Try This at Home: Sex Addiction Is no Excuse for Tax Fraud

This CPA was very, very naughty. But you have to give him credit for an imaginative defense.

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