Drake Software blog for tax pros, covering tax, IRS news, and more
A new report from the Treasury Inspector General for Tax Administration (TIGTA) finds that a number of tax preparers are themselves classified as non-compliant, but in many cases, the Internal Revenue Service has not acted to recoup the outstanding tax due.…
Read more about TIGTA Says IRS Should Act on Preparers with Overdue Returns, Debts
This audit looked specifically at whether the IRS is effectively addressing high-income nonfilers and if the agency’s new nonfiler strategy includes wealthy nonfilers.…
Read more about TIGTA Finds Lapse in High-Income Nonfiler Audits
As we get into the 2019 income tax filing season, an audit of the previous filing season has good news and bad news for the Internal Revenue Service.…
Read more about TIGTA Finds Successes and Shortfalls in IRS 2018 Filing Season
The Internal Revenue Service has spent millions of dollars trying to get taxpayers located in foreign countries to report their holdings for tax purposes. A new federal audit, however, finds the IRS has fallen short in the effort.…
An examination of document-handling practices at the Internal Revenue Service shows the agency isn’t abiding by its own rules for retaining emails and other pertinent communications.…
Read more about Audit Finds IRS Not Retaining Records Properly
PCAOB Offers Firms Advice on Fixing Audit Quality Problems The Public Company Accounting Oversight Board has added a page to its Web site to provide information to audit firms where quality control…
Read more about PCAOB Offers Firms Advice on Fixing Audit Quality Problems
Fast Track Settlement Program Now Available Nationwide; Time-Saving Option Helps Small Businesses Under Audit IR-2013-88, Nov. 6, 2013 The Internal Revenue Service today announced the nationwide…
Read more about Fast Track Settlement Program Now Available Nationwide
Because of the susceptibility of these credits to fraud, and the low success rates in recovering erroneous credits once refunds have been issued, the IRS should take every reasonable step possible to identify potentially questionable credits ...…
Read more about IRS Tightening Controls over Refundable Tax Credits
