Lawmakers Question Tax Prep Corps on FTC Privacy Violation Warnings
Following up on civil penalty warnings from the Federal Trade Commission (FTC), as well as their own independent investigation, a …
Tax Court Revisits Test for Timely Supervisory Penalty Approval
The Tax Court has determined that written supervisory approval for the accuracy-related penalties at issue was timely. The tax compliance …
Semi-Monthly Superfund Excise Tax Deposits Burdensome, IRS Told
At a rulemaking hearing for proposed rules on the reinstated Superfund excise taxes, the IRS heard from industry representatives that …
2024 PTIN Renewal Period Underway
The IRS has announced that the PTIN renewal period is now open. All active return preparers need to renew their …
IRS Investment Update: Business Account Launches, Noncompliant US Subsidiaries Targeted
In a quarterly update on how the IRS has been utilizing Inflation Reduction Act (PL 117-169) resources, the agency announced …
Ways and Means Looking to Curb Pandemic Related Fraud
Federal agencies did not strategically manage fraud risks and were not adequately prepared to prevent fraud tied to COVID-19 relief …
Tax Court Denies Hardship Waiver to 60-day Rollover Rule
In a case of first impression, the Tax Court held that it has jurisdiction under Code Sec. 6213(a) to review the IRS’s …
Direct E-File Pilot Program Will Be Available in 13 States, IRS Says
The upcoming pilot program for an in-development tax preparation and electronic filing option operated by the IRS will be limited …
Inflation Reduction Act Progress Report Pt. 2: Industry Impact
Tax professionals are giving the IRS credit for how it has prepared to administer the dozens of tax provisions under …
Inflation Reduction Act Progress Report Pt. 1: Rubber Meet Road
Since the enactment of landmark legislation last summer packed with tax provisions intended to incentivize green energy project development or …