The California Franchise Tax Board (FTB) has delayed the tax refund process for at least 16,000 state taxpayers in order to complete extra identity verification steps to prevent refund fraud and identity theft. The FTB is sending letters to some...
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Federal Tax Gap Holding Steady, According to IRS Estimates
The Internal Revenue Service (IRS) recently released a new study, Tax Gap Estimates for Tax Years 2008-2010. According to this period report, "there has been no significant change in the amount of the tax gap or the rate of compliance since the last report was...
Selling to South Dakota? Better Register First!
Recently, Forbes magazine named South Dakota as one of the top 10 states for business, particularly since it ranked number one in the cost of doing business. A new state law will likely keep South Dakota in first place for in-state business statistics, to the...
Uber to Pay Up To $100 Million over Worker Classification Dispute
Employers who wish to utilize independent contractors in their business model may often do so, however, adequate review of the employers' documents and practices is crucial to a successful business plan based on an independent contractor workforce. This week, Uber...
Tax Commissioner Testifies Before House Subcommittee Regarding Current Filing Season
On April 19, 2016, Internal Revenue Service Commissioner Koskinen testified before the House Ways and Means Committee Subcommittee on Oversight regarding the 2016 filing season and data security. His testimony provided a summary of data current through the beginning...
What Should I Do If My Tax Preparer is Arrested?
Filing tax returns can be stressful, which is one reason many taxpayers hire a trusted professional to handle their returns for them. But what happens if your tax preparer turns out to be less trustworthy than you thought? Taxpayers in Apple Valley, California found...
Tax Design Challenge Open for Submissions
The Internal Revenue Service (IRS) launched a crowdsourcing campaign on April 17, 2016, to allow the public to suggest improved ways for taxpayers to access and interact with their data. Through May 10, 2016, participants who register at www.taxdesignchallenge.com...
New Scam Targets Tax Professionals’ Computers, IRS Warns
The Internal Revenue Service (IRS) has issued a warning regarding yet another scam tactic criminals are using this year to steal taxpayers' personal information and refund money. The new approach involves obtaining remote access to tax preparers' computer...
Tax Court Proposes New Rules Related to IRS Passport Revocation
The United States Tax Court Chief Judge Michael B. Thornton recently announced that the Tax Court has adopted interim amendments and has issued proposed amendments to the Tax Court Rules of Practice and Procedure relating to the Bipartisan Budget Act of 2015, the...
IRS Releases Publication 5125, The LB&I Examination Process
In collaboration with LB&I (Large Business & International) and key stakeholder groups, the IRS has completed and posted Publication 5125, The LB&I Examination Process. Effective as of May 1, 2016, Publication 5125 outlines the new Examination Process,...
