IRS

Tax

AICPA Says IRS Needs to Issue Additional DOMA Guidance

The AICPA identified seventeen areas in which the IRS should provide additional guidance to taxpayers and tax practitioners as a result of the US Supreme Court's decision that Section 3 of DOMA was unconstitutional.
Tax

Tax Rates, Standard Deduction, Exemptions Increase Due to IRS Inflation Adjustments

For tax year 2014, the IRS announced annual inflation adjustments for more than forty tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2013-35 provides details about these annual adjustments.
Tax

IRS Announces 2014 Pension Plan Limitations; Taxpayers May Contribute up to $17,500 to Their 401(k) Plans in 2014

On October 31, 2013, the IRS announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014.
Tax

IRS Now Processing 2014 PTIN Renewals and Applications

Preparer Tax Identification Number (PTIN) renewals and applications for 2014 are now being accepted and processed by the IRS.
Tax

TIGTA Wants IRS to Take Steps to Prevent Fraudulent Refunds

After reviewing the IRS's primary tool for detecting fraudulent tax returns, the TIGTA recommended the IRS take steps to fix ineffective income and withholding verification processes that are resulting in the agency issuing potentially fraudulent tax refunds.
Tax

TIGTA: IRS Contractor Employees Owe $5.4 Million in Tax Debts

A report released October 23 from the Treasury Inspector General for Tax Administration (TIGTA) revealed that hundreds of IRS contractor employees owe millions of dollars in federal tax debt.
Tax

Crime Watch: October 25, 2013

A Los Angeles man was sentenced October 24 to sixty months in federal prison for defrauding professional football player Dwight Freeney in a multimillion dollar fraud scheme.
Tax

Dave Camp Scolds IRS for Delaying Tax-Filing Season

According to Dave Camp (R-MI), the powerful chairman of the House Ways and Means Committee, the IRS' decision to postpone the start of the upcoming tax filing season could adversely affect taxpayers banking on early refunds.
Tax

Shutdown Fallout: IRS Delays 2014 Tax-Filing Season

The 2014 tax-filing season, which was scheduled to begin on January 21, 2014, will be delayed approximately one to two weeks as a result of the recently concluded federal government shutdown, the IRS announced October 22.
Tax

TIGTA Report: The IRS Must Do More to Reduce Improper Payments

The IRS has made no significant improvement in reducing improper Earned Income Tax Credit (EITC) payments, according to a report publicly released October 22, 2013, by the Treasury Inspector General for Tax Administration (TIGTA).
Tax

IRS Is Seeking Applications for Vacancies on the ACT

The IRS is requesting applications for membership to serve on the Advisory Committee on Tax Exempt and Government Entities (ACT). Written applications or nominations must be received on or before November 4, 2013.
Tax

Drought-Stricken Farmers and Ranchers 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 October 18.
Tax

Crime Watch: October 18, 2013

Randolph Scott of Doylestown, Pennsylvania, an attorney whose practice included estate and probate matters, was charged by Indictment on October 3, 2013, with defrauding a client's estate of more than $1.7 million.
Tax

Shutdown Forces IRS to Delay PTIN Renewals for 2014

The IRS reported on October 16 that Preparer Tax Identification Number (PTIN) renewals have been delayed for 2014 due to the federal government shutdown.
Tax

Sarah Hall Ingram Defends IRS on Obamacare

How's the rollout of the Affordable Care Act going? Just fine, thank you, according to IRS official Sarah Hall Ingram, who is running the tax collection agency's end of the operation.
Tax

IRS' Ingram: Did the Devil Make Her Do It?

The IRS has been embroiled in plenty of turmoil lately, but presumably it has nothing to do with a witch's cauldron or a satanic spell. Nevertheless, an IRS official sitting on the hot seat in Congress was asked to defend herself against mock charges she was demonic.
Tax

IRS Provides Update on Available Services During Shutdown

The IRS on October 8 posted updated information for taxpayers on its website about what services the agency can and cannot provide while the federal government is shut down.
Tax

IRS Can't Find $67 Million in Obamacare Funds

As if there wasn't enough controversy already swirling around the Affordable Care Act, now the TIGTA reports that the IRS can't account for $67 million stashed in a slush fund intended to help enforce the law.
Tax

Tom Hanks Flees NYC before the Tax Bug Bites

It must be a pain to be wealthy and famous. Most people who enter a state on business can slip in, do a deal, and go on home without drawing the unwanted attention of the IRS. But for Tom Hanks, it's not so easy.
Tax

National Organization for Marriage Files Suit against IRS

The National Organization for Marriage filed a lawsuit against the IRS on October 3, claiming it has "irrefutable proof" the agency illegally released the pro-traditional marriage organization's 2008 confidential tax return to the Human Rights Campaign.

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