On March 18, 2015, the Treasury Inspector General for Tax Administration ("TIGTA") issued a report to the Large Business, International Business, and Small Business/Self-Employed Divisions of the Internal Revenue Service. The report was the result of a review of the...
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IRS
Tackling Third-Party Payer Fraud
An estimated 40 percent of small businesses outsource payroll tasks to third-party payers, delegating the responsibility to withhold and pay over Federal employment taxes to the IRS. Unfortunately, some third-party payers withhold the tax through payroll, but instead...
Tax Refunds Close to $125 Billion
Almost 40 million tax refunds worth nearly $125 billion have been issued as of Feb. 20, according to Internal Revenue Service statistics released today. The average refund is $3,120.The IRS has processed nearly 50 million returns, about one-third of the total...
One Billion Dollars Due to One Million Taxpayers
On March 11, 2015, the IRS reported that it has refunds totaling $1 Billion due to taxpayers who did not file a 2011 federal income tax return. California leads the nation with the most refunds due, with over 103,000 taxpayers failing to file their 2011 return.In...
Tax Considerations for Self-Employed Individuals
"Self-employed" individuals include sole proprietors and independent contractors. The Self-employment income can include income you received for part-time work. This is in addition to income from your regular job. According to the IRS, there are a few things to keep...
The Rest of the IRS “Dirty Dozen” Tax Schemes
Each year, the Internal Revenue Service ("IRS") compiles an annual list of the common scams taxpayers may come across. Such scams tend to peak during filing season as taxpayers are preparing their own returns or hiring someone to prepare it for them. This year, in...
Highlights of Six of the IRS “Dirty Dozen” Tax Schemes
Each year, the Internal Revenue Service ("IRS") compiles an annual list of the common scams taxpayers may come across. Such scams tend to peak during filing season as taxpayers are preparing their own returns or hiring someone to prepare it for them. This year, in...
The Good, the Bad, and the Inevitable with IRS Budget Cuts
IRS Commissioner John Koskinen recently announced the extent and effect of the significant budget cuts facing the IRS in 2015. Noting that the IRS will now be required to operate on the lowest budget since 1998 (after adjustments for inflation were made), the IRS will...
Ohio District Court rejects estate’s reasonable cause argument for its late-filed estate tax return
Ohio District Court rejects estate's reasonable cause argument for its late-filed estate tax returnLast week the United States District Court for the Southern District of Ohio issued an opinion finding an estate liable for additions to tax due to the estate's failure...
IRS Taxpayer Advocate Issues Annual Report
In her annual report to Congress, Taxpayer Advocate Nina Olsen anticipates that taxpayers will receive the worst level of service since 2001. Citing budget problems of the past five years, Ms. Olson notes the erosion of taxpayer service to individuals coupled with a...
