IRS

Tax

IRS Gives More Time to Taxpayers and Preparers Affected by Sandy

The IRS announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until November 7, 2012, to file returns and accompanying payments normally due October 31.
Practice

Weathering Sandy: Advice, Assistance, Notifications from CPA Societies and Others

Post-Sandy, CPA societies, government offices, and other organizations are providing information and resources to assist those impacted by Hurricane Sandy. We will keep you updated as news comes in.
Tax

Frankenstorm: Post-Hurricane Accounting for Casualty Loss

After Hurricane Sandy and subsequent damage to the Northeast region, taxes are probably the last thing on your mind. However, with disasters comes property damage.
Tax

Crime Watch

Our latest roundup of criminal cases includes a US postal worker who has been indicted for his involvement in stolen identity fraud and embezzlement. If convicted, he faces years of jail time.
Tax

It's Open Enrollment Season for PTINs!

The IRS has issued an important reminder to 730,000 federal tax return preparers around the country: Don't forget to renew your PTIN for 2013. It has also cautioned tax professionals who must meet new competency tests to schedule their exams.
Tax

YouTube Video Features Medicare Surtax

"Benjamin Franklin said, 'In this world, nothing could be said to be certain, except death and taxes.' At least with taxes, they keep changing." Thus starts a new YouTube video entitled "Medicare Investment Income Tax."
Tax

IRS Told to Improve Controls over Refundable Tax Credits

The IRS may never recover millions of dollars in refundable tax credits that were given out erroneously, a new Treasury Inspector General for Tax Administration audit report contends.
Tax

Highlights of COLAs for '13

The IRS has announced various cost-of-living adjustments for 2013. Although inflation has remained on the low side this year, it was still high enough to move the needle on more than two dozen tax code provisions.
Tax

Crime Watch

Here's our latest roundup of tax crime news. Today's cases involve real estate mortgage fraud, tax evasion, an under-the-table payroll scheme, and an underground warehouse banking scheme.
Tax

The 'Hidden' Social Security Tax Change

Like clockwork, the SSA announces an increase in the annual Social Security "wage base" practically every October. This year is no exception. Among other changes, the SSA says the wage base will jump to $113,700 in 2013.
Tax

Crime Watch

Today's tax crime cases involve tax evasion, charitable organization donation kickbacks, false claims for tax refunds, bank fraud, aggravated identity theft, money laundering, and wire fraud.
Tax

IRS Commissioner Shulman to Step Down

On October 10, 2012, the IRS announced that Douglas Shulman, who has led the agency since 2008, is stepping down next month. "It has been an honor to serve the American people during this dynamic time," said Shulman.
Tax

Crime Watch

A woman in Georgia has been indicted for stealing the identities of the most vulnerable - the homeless and the disabled. The second case involves a tax refund scheme of national scope, wherein at least 180 clients from thirty different states were victimized.
Watchdog

A Slew of Tax Fraud Crime Stories

Following are six stories we've gathered on some of the latest tax crimes in California. They make for some interesting reading.
Tax

Should Preachers Be Practicing Politics?

On "Pulpit Freedom Sunday," more than 1,000 pastors participated in a collaborated effort to defy the IRS by endorsing political candidates. Their message was clear: You can't tell us what we can and can't talk about to our congregations.
Education & Careers

IRS Needs Advisory Committee Members

The IRS is seeking applications for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT). The committee provides a venue for public input on relevant areas of tax administration.
Tax

Tax Fraud Promoters Get Lengthy Prison Sentences

Catherine June Floyd was sentenced to sixty months in prison, and William Scott Dion got an eighty-four-month sentence for tax fraud. Each was ordered to pay restitution of $3 million.
Tax

Firearms Training: IRS Meets the Wild West

The IRS Criminal Investigation Division needs to ensure that its special agents are taking and passing required firearms training, according to a new report from the Treasury Inspector General for Tax Administration.
Tax

IRS Freezes Per Diem Rates for 2013

Now that new per diem rates for business travelers have been released, there's a definite chill in the air. The IRS has announced the rates for the government's 2013 fiscal year have been frozen at the same levels as last year.
Tax

45 States Have More Time to Replace Livestock

Farmers and ranchers who previously were forced to sell livestock due to drought, have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales, the IRS announced.

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