IRS Merging Some Advisory Committees
The Internal Revenue Service says it is expanding the role of one of its advisory committees, by combining it with two other advisory panels.…
IRS Impersonators Sentenced to Federal Prison Terms
Five members of a criminal ring that posed as IRS agents to extort money from taxpayers have been sentenced to federal prison. Their sentences ranged from over 11 years to nearly 4 years.…
Read more about IRS Impersonators Sentenced to Federal Prison Terms
PTIN Renewals Underway for Tax Pros
Now that the 2018 tax season is officially over, it’s time for tax professionals to renew their Preparer Tax Identification Number, or PTIN. All current PTINs will expire on Dec. 31.…
TIGTA Audit Finds IRS Needs to Improve 501(c)(4) Examinations
The Treasury Inspector General for Tax Administration (TIGTA) released a report on October 4 that found the IRS needs to do a better job when investigating section 501(c)(4) organizations suspected of engaging in “impermissible political activity.”…
Read more about TIGTA Audit Finds IRS Needs to Improve 501(c)(4) Examinations
IRS Offers Webinars for Tax Reform Changes
The Internal Revenue Service has scheduled three national webinars giving tax professionals an overview of the tax reform changes they’ll face in the coming 2019 tax season.…
IRS Future State Shifted to Part of Five-Year Plan
The “Future State” initiative debuted in 2014 and featured an online portal that allowed taxpayers to communicate with the IRS and to deal with their taxes online.…
Read more about IRS Future State Shifted to Part of Five-Year Plan
Tax Relief Coming for Taxpayers Affected by Hurricane Michael
According to NOAA, we are well into the worst part of hurricane season—a fact punctuated by two significant storms making landfall less than one month apart. While emergency workers brave treacherous conditions to restore shattered communities, other state and federal agencies help the recovery effort in other ways.…
Read more about Tax Relief Coming for Taxpayers Affected by Hurricane Michael
More Time to Replace Livestock due to Drought
While too much rain due to tropical storms and hurricanes has been the big news in the eastern U.S. recently, out west, the problem has been not enough rain. Many farmers and ranchers have had to sell off their herds of livestock because of the dry conditions.…
Read more about More Time to Replace Livestock due to Drought
IRS Addresses Deduction for Business Meals
While the Tax Cuts and Jobs Act removed the deduction for entertainment that many businesses enjoyed in years past, the IRS announced Notice 2018-76, which outlines when business owners can deduct half of the price tag for business meals.…
New Tax Transcript Now Online
A revamped tax transcript is now available for individual taxpayers and tax professionals. The IRS previously announced the improvements to the transcript design, which is aimed at making the product more secure.…
