Experience. Dedication. Results.
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...
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...
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,...
On Monday, a federal judge for the Eastern District Court of Louisiana approved a settlement between BP and the United States for $20 billion to settle claims related to the 2010 oil spill in the Gulf of Mexico. Of that amount, $5.5 billion represented a Clean Water...
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,...
For one reason or another, some people can only pay bills by making cash payments. Until now, taxpayers wanting to pay the IRS in cash had to travel to the IRS Taxpayer Assistance Center nearest them, but no more. Now, through the IRS' new program, a taxpayer can make...
The Internal Revenue Service has been cracking down on refund fraud and identity theft through the Security Summit initiative and its Criminal Investigation (CI) work. In fiscal year 2015, CI initiated 776 identity theft investigations, which led to 774...
Each year, the IRS publishes statistical data regarding tax return filing, revenue collected and refunded, tax law enforcement, taxpayer assistance, and other important information. This year, the IRS reports an increase in all areas, including collection of over $3.3...
A record number of US taxpayers are coming into compliance with their foreign filing requirements, with 1,163,229 Forms 114 (Report of Foreign Bank and Financial Accounts, or FBAR) filed for 2015---an 8 percent increase from 2014. FBAR filings have increased at an...
The Internal Revenue Service announced an increase to interest rates for the calendar quarter beginning April 1, 2016. The new interest rates will be:4% for overpayments (3% for corporations up to $10,000 and 1.5% for overpayments exceeding $10,000);4% for...
