The Internal Revenue Service in recent years has made many advancements in the online service sector, installing helpful applications to aid individual taxpayers. But a new audit shows that if an unauthorized user manages to get into the system, many times the applications are unable to show investigators where those intruders went.…

Read more about TIGTA Says Most IRS Apps Unable to Track Unauthorized Users

Businesses are a favorite target of identity thieves. Reports often cover the theft of customer financial information, like credit cards, debit cards, and bank accounts.…

Read more about IRS Announces New Identity Theft Affidavit

More and more, tax professionals are relying on working remotely, also known as teleworking, in order to stay connected with clients and remain productive.…

Read more about Work Virtually for Real Security

The Internal Revenue Service is changing the guard in its Criminal Investigation (CI) division. James Lee, the current deputy chief of the division and a 25-year IRS veteran, will take the reins from retiring Chief Don Fort.…

Read more about James Lee to Lead IRS Criminal Investigations

The Internal Revenue Service has good news for taxpayers restoring historic buildings. Last week, the agency announced that they have granted additional time to qualify for the Rehabilitation Tax Credit to mitigate logistical issues arising from the coronavirus pandemic.…

Read more about Taxpayers Get More Time to Qualify for Rehabilitation Tax Credit

Taxpayers can dip into Coronavirus Aid, Relief, and Economic Security Act-specified retirement accounts without suffering a penalty, according to an Internal Revenue Service press release published yesterday. This reminder comes just days after the $600 unemployment benefits included in that legislation expired.…

Read more about CARES Act Allows Penalty-Free Withdrawals from Some Retirement Plans

The Tax Cuts and Jobs Act (TCJA) of 2017 famously adjusted the income tax brackets and lowered the corporate tax rate to 21 percent, but the sweeping legislation contained a host of tax-related changes.…

Read more about Businesses Get Final Regulations, Additional Guidance for Deducting Interest on Expenses

The second week of “Working Virtually” focuses on multi-factor authentication (MFA). While included in the “Security Six” protections highlighted last week, the Summit is specifically namechecking MFA for one simple reason: It works.…

Read more about Security Summit Recommends Multi-Factor Authentication

The Internal Revenue Service has issued new guidance to reconcile advance payments of refundable employment tax credits and recapture the benefit of those credits when needed.…

Read more about IRS Issues Guidance on Recapturing Excess Employment Tax Credits

Many taxpayers may have collectively breathed a sigh of relief on July 16, but anyone selling big-ticket items between now and the end of 2020 will still need to report large cash transactions.…

Read more about IRS: e-File is Available for Form 8300