IRS

The Treasury Inspector General for Tax Administration (TIGTA) issued a final report on May 17, 2016, after auditing the Internal Revenue Service's handling of amended individual tax returns. It found that examinations of such returns "did not always ensure that claims...

In his speech to the National Press Club recently, IRS Commissioner John Koskinen noted that the IRS' age 25-and-under recruits has recently dropped from 650 to only 200. Since more than 40 percent of the current IRS workforce will be eligible for retirement in the...

The IRS Office of Chief Counsel recently released a memo from April 14, 2016, regarding the tax treatment of benefits an employee receives through an employer wellness program. Specifically, the Chief Counsel determined that cash benefits paid as a reward for or...

The Internal Revenue Service announced that interest rates will not change for the calendar quarter beginning July 1, 2016. Current rates are:4% for overpayments (3% for corporations);4% for underpayments;6% for large corporate underpayments; and1.5% for the portion...

The House Committee on Appropriations approved a spending bill on June 9, 2016 that allocates $10.9 billion to the Internal Revenue Service for fiscal year 2017, as compared to the $11.23 billion allocated for FY 2016. The bill, available here, earmarks portions of...

The IRS' Taxpayer Advocate Service recently released a web-based estimator to help employers understand how the Employer Shared Responsibility Provision (ESRP) of the Affordable Care Act will affect their taxes. Employers can use the tool to determine how many...

The Internal Revenue Service (IRS) issued a warning on May 27, 2016 about a new tax scam in which callers impersonating IRS employees, tax preparers, or even state revenue agents are demanding payment for a so-called "Federal Student Tax" (which does not exist). ...

The Treasury Inspector General for Tax Administration (TIGTA) released an audit report on May 19, 2016 in which it claims that "billions of dollars in potentially improper payments will continue to go unaddressed unless the Internal Revenue Service (IRS) is allowed...

The Internal Revenue Service is presenting "Overseas Filing for US Taxpayers" in webinar format on May 25, 2016 from 1:00pm-3:00pm EDT. You must register to attend this webinar. The session will be recorded. To register, click here.

Are you submitting an Offer in Compromise (OIC) application to the Internal Revenue Service? Make sure all your tax returns have been filed! Effective immediately, the IRS will be returning any newly filed OIC applications if the taxpayer involved has not yet come...