On April 25, 2019, the Governor of California approved Assembly Bill No. 147, which sets the economic nexus threshold at $500,000 in sales or deliveries to California, cumulative over 12 months. This will come as some relief to many out-of-state retailers affected by...
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Month: April 2019
IRS Plan to Modernize, Improve, and Protect
The IRS has established a plan to modernize its systems with an eye toward better service to taxpayers. Cybersecurity is a top priority for the IRS in 2019, as is protecting taxpayer data. The newly released plan outlines a six-year strategy to expand taxpayers'...
IRS Focus on Cybersecurity at Practitioner Education Seminars
The IRS is doing more than protecting taxpayer data and detecting cyber fraud. It is educating tax professionals on cybersecurity at its annual Nationwide Tax Forums. Certain education seminars at this year's Forums will focus on addressing "basic cyber hygiene" and...
Foreign Assets and Entities Focus of New IRS Compliance Campaigns
The Internal Revenue Service (IRS) Large Business and International division (LB&I) recently announced three new compliance campaigns focused on offshore private banking, captive services providers, and information returns filed by individuals concerning foreign...
IRS and Security Summit Making Progress against Tax-Related Identity Theft
The Internal Revenue Service (IRS) and its Security Summit partners recently announced the results from their last 3 years of fighting tax-related identity theft. The summit first met in 2015, and the first initiatives were enacted in 2016. Since 2015, the number of...
IRS Narrows Definition of “Responsible Party” for EIN Applications
The Internal Revenue Service (IRS) recently announced that, starting May 13, 2019, only natural persons with a Social Security number or an individual taxpayer identification number may request an EIN as the "responsible party" on the application. Entities will no...
TIGTA Releases Interim Report on 2019 Filing Season
The Treasury Inspector General of Tax Administration (TIGTA) recently released its interim report on the 2019 federal tax filing season. As of March 1, 2019, the Internal Revenue Service (IRS) had received over 59 million tax returns and issued approximately $142...
Taxpayer First Act Seeks Structural Reform for IRS
The House Way and Mean Committee is working on a bill that would overhaul Internal Revenue Service (IRS) operations, appeals, and taxpayer services. The Taxpayer First Act faltered in the Senate Finance Committee last April, but a bipartisan group of lawmakers...
