IRS

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.
Tax

Appeals Court: IRS Lacks Authority to Regulate Preparers

A federal appeals court panel of three judges on February 11 upheld a lower court’s ruling early last year that the IRS does not have the legal right to regulate the estimated 600,000 to 700,000 paid tax return preparers in the United States.
Tax

IRS Releases Version 4.0 of Mobile App

It might take slightly longer for taxpayers to get their tax refunds from the IRS this year, but at least they can do a better job of tracking the progress on their smartphones.
Tax

Report: IRS Criminal Prosecutions Up 23.4% under Obama

A new report from Syracuse University found that the number of referrals for criminal prosecution by the IRS has risen by nearly a quarter under the Obama administration compared to George W. Bush’s years in the White House.
Tax

New Medicare Surtax Form Makes Its Debut

With just a few scant days until the official start of tax-filing season, the IRS approved a final draft of new Form 8960, "Net Investment Income Tax—Individuals, Estates, and Trusts." This form will be used to compute the new 3.8 percent Medicare surtax on net investment income on 2013 federal income tax returns.
Tax

IRS Proposes Regs on Obamacare Penalties for Individuals

At long last, the much-publicized health insurance mandate for individuals went into effect on January 1. Now, less than a month later, the IRS has issued new proposed regulations governing the penalties for noncompliance.
Tax

Ex-IRS Worker Admits to Stealing $1.7 Million in Fake Refunds

Monica Nanette Hernandez, a former IRS data clerk, pleaded guilty on January 21 to one count of aggravated identity theft, one count of filing false income tax returns, and one count of wire fraud. She will be sentenced on April 14.
Tax

Workers’ Comp and S Corp Owners?

Consider an S corporation with a shareholder who owns 2 percent or more of the company. We know if the company pays for their health insurance, that needs to be added to their wages, right? But what about when the owners are covered by their workers’ compensation insurance policies?

IRS Opens Free File Ahead of Tax Season

Tax-filing season doesn’t begin until January 31, but starting today, the estimated 100 million individuals and families with adjusted gross incomes of $58,000 or less for 2013 can prepare, complete, and file their federal tax returns electronically at no cost.
Tax

National Taxpayer Advocate Wants Taxpayer Bill of Rights

It’s not exactly the rallying cry of “no taxation without representation,” but National Taxpayer Advocate Nina E. Olson has called on the IRS to adopt a comprehensive new Taxpayer Bill of Rights.
Tax

Ex-IRS Chief Miller Joins Alliantgroup

Steven Miller, the former acting commissioner of the IRS who resigned from his post last year after the agency admitted it had improperly scrutinized the federal tax-exempt status of certain conservative groups, has landed at Houston-based alliantgroup as its national director of tax.
Tax

IRS Plays It Straight in YouTube Videos

The IRS has produced several short clips on tax-related topics that may be accessed on YouTube in English, Spanish, and American Sign Language.
Tax

Be Nice, Not Naughty, When Filing EITC Claims

Santa Claus wasn't the only one who was supposed to make a list and check it twice this holiday season. The IRS is riding herd on tax practitioners who claim the Earned Income Tax Credit credit for clients without filing Form 8867.
Tax

IRS Cites High-Tech Changes for Tax Filing Season

Public demand is up and government funding is down. The nation’s tax collection agency says it will be emphasizing online services and automation to help weather the hectic 2014 tax filing season.
Tax

Time Is Running Out to Renew or Apply for 2014 PTINs

The IRS is reminding professional tax return preparers to renew their Preparer Tax Identification Numbers (PTINs) if they plan to prepare returns in 2014.
Tax

IRS Sets January 13 as Start Date to 2014 Business Tax Season

January 13, 2014, is the first day the IRS will begin accepting 2013 business tax returns – filed electronically or filed on paper – the agency announced.
Tax

IRS Modifies Multiple Signature Process for Form 1041

As part of its regular review process, the IRS has determined that the Multiple Tax Return Listing (MTRL) process used to electronically file Form 1041, US Income Tax Return for Estates and Trusts, must be modified.
Tax

Save the Date: Tax Season to Start on January 31

The 2014 tax-filing season, which was scheduled to begin on January 21 but was delayed because the IRS could not program and test its tax-processing systems during the sixteen-day federal government shutdown in October, will now begin on January 31, according to the agency.
Tax

IRS Issues Guidance on Roth 401(k) Rollovers

The Roth 401(k) has failed to gain much traction in the workplace. But a provision in ATRA was designed to grease the skids. Now the IRS has provided valuable guidance on in-plan Roth 401(k) rollovers in Notice 2013-74.
Tax

Crime Watch: December 13, 2013

Rathana Ung, the former director and officer of Lim's Income Tax and Lim's Tax, Inc., was sentenced to twelve months and a day imprisonment, one year of supervised release, and ordered to pay $103,736 in restitution to the IRS.

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