IRS

Wealth management

How FATCA Compliance Just Got Easier

Those who have to deal with the Treasury Department's mind-bending international tax rules have just caught a break.
Tax

Koskinen Calls on Congress to Give IRS Oversight of Tax Return Preparers

During a Senate Finance Committee hearing on Tuesday morning, the head of the IRS urged lawmakers to pass legislation that would authorize the agency to regulate the nation’s estimated 600,000 to 700,000 paid tax return preparers.
Tax

Senate Schedules Hearing on ‘Unethical’ Tax Preparers

Two sets of panelists will discuss what to do with tax return preparers who lack proper certification during a Senate Finance Committee hearing that begins at 10 a.m. ET on April 8.
Practice Management

Ignorance is Bliss? Not When It Comes to Tax Prep

We should be afraid of the lack of awareness and familiarity and sheer laziness among unqualified tax preparers.
Education & Careers

How VITA Builds Tax Skills While Helping Communities

Put away your cynicism; we actually have a warm and fuzzy story that involves the IRS.
Tax

IRS Updates FAQs For Same-Sex Couples

Check the recently updated official word on the complex regs for same-sex marriages.
Tax

IRS: Beware of New E-mail Phishing Scam

This latest phishing scheme involves e-mails to taxpayers that appear to be from the IRS Taxpayer Advocate Service and include a bogus case number. The bogus e-mails direct the recipient to click on links to web pages that solicit personal information.
Practice Management

ID Theft at IRS: Could Your Firm Be Next?

If someone can walk out of the IRS with personal information on 20,000 people, they can do it at your firm.
Practice Management

Take Cover Against Tax Season Violence

Be prepared: Angry taxpayers may be coming to get you. Tax season is bringing out the worst in people.
Tax

Still Haven’t Filed Your Taxes? Then Consider These 10 Tips

Get organized, don't wait until the last minute to prepare your return, and ask questions are among the top tips for taxpayers who haven't yet filed their individual income tax returns, according to the American Institute of CPAs.
Tax

Lois Lerner Steps Up in IRS Scandal

The former IRS manager now faces a withering new House report, which releases embarrassing e-mails.
Tax

IRS Is Handing Out Bigger Refunds This Year

Tax refunds are up, as the IRS computers pull the Service ahead of last year's numbers.
Tax

The Lowdown on Tax Audits

New IRS guidance and various studies explode some myths on the dreaded tax audit and give hints on who gets audited and why.
Tax

IRS Would Receive More Funding in Obama’s 2015 Budget

A proposed fiscal year 2015 budget released by President Obama yesterday would provide the IRS with $12 billion in base funding, up 6.3 percent over the 2014 enacted level. The budget would also allot $165 million to improve IRS customer service.
Tax

Tax Returns Keep Rolling In to the IRS

The IRS noted last Thursday that, as of February 21, it has received nearly 49.6 million individual income tax returns – about one-third of the amount the nation’s tax-collection agency projected before the start of the 2014 filing season on January 31.
Tax

AICPA Sends Array of Legislative Tax Proposals to Congress

In a February 19 letter sent to the top tax legislators in Congress, the American Institute of CPAs (AICPA) outlined a set of proposals that would simplify or make technical corrections to the nation’s tax code.
Tax

Identity Theft Tops IRS ‘Dirty Dozen’ List of Scams for 2014

For the third straight year, identity theft heads the IRS’s list of the top twelve scams taxpayers should be wary of during tax season.
Tax

TIGTA Says IRS Needs to Upgrade Travel Procedures

In a new report released yesterday, the Treasury Inspector General for Tax Administration (TIGTA) says some IRS executives have been dodging taxes on travel excursions.
Tax

2014 Tax-Filing Season Off to a Roaring Start

From January 31 – the opening day of the 2014 tax-filing season – until February 7, the IRS received 27.3 million income tax returns, up 2.5 percent from the 26.9 million returns it collected around the same time last year, the agency reported today.
Tax

IRS to Taxpayers: Hang Up the Phone

Typically, Presidents Day week is “prime time” for taxpayers to call the IRS with questions about filing returns and related issues. But because of government budget cutbacks that may result in longer call wait times, the IRS is asking taxpayers to use its website and other online tools instead to find answers to their questions.

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