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IRS ‘Get Ready’ Campaign Helps Taxpayers Prepare for Filing Season
Trump Nominates Hedge Fund Exec Bessent to Lead Treasury Department
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Professionals on the Move – Nov. 2024
IRS Interest Rates to Remain Same for Q3 2015
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
Congress Considers 7.7% Cut to IRS Budget
The fiscal year 2016 Financial Services and General Government Appropriations bill, which provides funding for the Treasury Department, the Judiciary, the Small Business Administration, the Securities and Exchange Commission, and several other agencies.
How to Handle Short Time-Frame Tax Audits
As if getting audited wasn’t bad enough, now the IRS has added a new twist: the short timeframe audit. With these types of audits, it is possible that an audit case could be closed by the IRS before your client has a chance to show you the letter. This ar
Despite Recent Breach, Report Says IRS Getting Better At Detecting and Preventing Tax ID Theft
The extent of the IRS’s ability to stem this problem is still limited because it does not have access to third-party income and withholding information until well after tax return filing begins.
How Tax Professionals Can Avoid Getting Involved with Tax Frauds
A whopping 11 percent of Americans believe that it is okay to cheat on their taxes, according to the most recent IRS Oversight Board Survey of Taxpayer Attitudes. Unfortunately, successful fraud for many individuals will require either lying to their ...
What Taxpayers Should Do If Their Info Was Exposed On IRS Website
Taxpayers whose accounts were compromised will be notified by the Internal Revenue Service. Individuals who believe their identities have been compromised in this, or any other attempt, should review the IRS “Taxpayer Guide to Identity Theft,” which ...
IRS Data Breach Sets Off Alarms, FBI to Investigate
A serious security breach at the IRS has the agency scrambling to beef up its ID theft efforts while the public and lawmakers stew. The IRS announced on May 26 that hackers had gained access to the personal information of more than 100,000 American househ
CPAs Tell IRS to Improve Service, Provide Permanent Disaster Tax Relief and Preserve Cash Accounting Method
Concerned about the impact of IRS service reductions on taxpayers and tax practitioners, the AICPA Council on May 17 adopted a resolution urging policy makers to create a bi-partisan forum to “make recommendations that enable the IRS to achieve its ...