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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...
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...
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...
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...
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...
Beginning in 2010, the Panera Bread Foundation, a non-profit related to the popular restaurant chain, piloted a limited experiment in the "gift economy," whereby customers could "pay it forward" or "pay-what-you-can" at select cafes. The experiment, unfortunately,...
The Internal Revenue Service (IRS) estimates that it has nearly $1.4 billion in unclaimed income tax refunds due to about 1.2 million taxpayers who failed to file a 2015 Form 1040. The deadline to claim these funds is this year's return filing deadline, April 15,...
The Internal Revenue Service (IRS) recently issued a warning about a new phone scam involving fake calls from the Taxpayer Advocate Service (TAS). Tax scammers are using "spoofed" TAS phone numbers to contact potential victims to obtain personal information and...
Arizona Attorney General Mark Brnovich recently asked the U.S. Supreme Court for permission to file suit against the State of California over the $800 minimum business tax imposed on investors in certain LLCs. Brnovich contends that the California minimum tax, and...
The Internal Revenue Service (IRS) recently kicked off its annual "Dirty Dozen" awareness campaign to alert taxpayers to common tax scams. Topping the list in 2019 are new variations on phishing schemes that use "legitimate-looking emails with fake, but convincing...
