IRS

Tax

Tax return preparer registration for 2012 to start soon

For more than a year now, all paid tax return preparers have been required to obtain a preparer tax identification number (PTIN). Renewals for 2012 are expected to start in October 2011. Practitioners who haven't done so already can apply for a PTIN relatively easily.
Tax

IRS slow to tell taxpayers when their information was disclosed

Just as the Obama administration seeks to protect consumers from breaches of personal privacy, the IRS is being told that it's too slow to tell taxpayers when their personal information wasn't kept private.
Tax

Taxpayer Advocate: Cuts to IRS would hinder tax collection efforts

National Taxpayer Advocate Nina Olson is telling lawmakers to leave the IRS alone when it comes to budget cuts.
Tax

Report says IRS plagued by financial management system problems

The IRS financial management systems, which do not comply with federal law, are unlikely to be fixed before 2014, according to an audit report.
Tax

TIGTA report: IRS taxpayer data is vulnerable to hackers

According to a report by the Treasursy Inspector General for Tax Administration, the IRS needs to do more to keep data secure.
Tax

TIGTA report finds the IRS struggling with old challenges and new laws

The TIGTA's recent Semiannual Report to Congress summarizing the activities of the IRS for the six months ending March 31, found that the Agency has failed to make significant progress solving long standing problems.
Tax

IRS reaches milestone of 1 billion e-filed tax returns

The Internal Revenue Service has announced that its e-file service has reached a major milestone as it passed the one billion mark for individual tax returns processed safely and securely since 1986.
Tax

IRS extends FBAR filing deadline for certain individuals

The Internal Revenue Service and the Financial Crimes Enforcement Network (FinCEN) have announced that a small subset of individuals with only signature authority required to file the Report of Foreign Bank and Financial Accounts (FBARs) will receive a one-year extension beyond the upcoming filing date of June 30, 2011.
Tax

IRS watchdog tells of billions of dollars in losses

Improper payments by the IRS are costing taxpayers billions each year. At issue are several kinds of refundable tax credits, but most of the fraud stems from the Earned Income Tax Credit, or EITC.
Tax

IRS and the mileage rate increase

The last time we saw a steep increase in gas prices at the pump, the IRS helped ease the pain with an increase in the allowable standard mileage deduction/reimbursement rates. There was a mid-year mileage rate adjustment in 2005, and another one in 2008.
Tax

IRS turns up the audit heat again

The IRS is reporting that tax audits of individual taxpayers overall went up for the 2010 fiscal year. But that's not all. It appears that certain groups are being targeted.
Tax

IRS gets serious about return preparer rules

The PTIN registration is the first step in a multi-year effort by the IRS to provide standards for and oversight of the tax preparation industry. Starting this fall, certain paid preparers will be required to pass a new competency test.
Tax

IRS commissioner proposes changes to the tax preparation process

Internal Revenue Service Commissioner Douglas Shulman says "looking back" has been the business model of the IRS since its inception in 1862, but dealing with taxpayer issues up-front is where the tax agency should be headed.
Technology

AICPA urges IRS to help safeguard electronic accounting records

In a letter this week, the American Institute of Certified Public Accountants urged the IRS to work with small business owners to safeguard private data included in electronic accounting software records that the IRS may request as part of an examination.
Tax

TaxSqueal.com: Former IRS investigator lends his old employer a hand

After 30 years with the IRS, 25 of them as a special agent with the criminal investigation division, Al Drucker has heard just about everything when it comes to tax cheats.
Tax

IRS filling vacancies on Taxpayer Advocacy Panel

The Internal Revenue Service is seeking civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies key issues, and makes recommendations for improving IRS service.
Tax

Dubious achievement: Californian offers IRS revenue officer largest bribe ever recorded

Kulwant Lasher has been sentenced to four years and nine months in prison to be followed by three years of supervised release for conspiring to bribe an IRS Revenue Officer and failing to pay withholding and payroll taxes.
Tax

House and Senate spar on repeal of 1099 reporting rule

Last week, the U.S. House of Representatives passed H.R. 4, a bill repealing the health care reform law provision that requires businesses to furnish 1099 statements to corporate vendors. The House bill has been returned to the Senate where it faces an uncertain fate.
Tax

Tax scams on the front burner at the IRS

In case you're thinking that maybe Wesley Snipes has a good point when it comes to lowering income taxes, the Internal Revenue Service wants to remind potential tax scam artists that it does not plan on ignoring frivolous tax evasion arguments.
Tax

IRS looking at $1.1 billion windfall if 2007 returns miss the filing deadline

Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007, according to the Internal Revenue Service. However, to collect the money, a return for 2007 must be filed with the IRS no later than Monday, April 18, 2011.

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