Posts tagged "taxpayer information"

Beware of New IRS Phone Scam

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 payments. The IRS reminds taxpayers that TAS does not typically initiate calls to taxpayers, unless the taxpayer has requested assistance first.

IRS Launches New "Dirty Dozen" List of Tax Scams for 2019

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 website landing pages," social media links, and other methods to obtain taxpayers' personal information.

FTB Increases Interest Rates

The California Franchise Tax Board (FTB) recently announced that interest rates for personal income tax underpayments and overpayments, corporate underpayments, and estimate penalties will increase to 6 percent for 2019.  The corporate overpayment interest rate will increase to 2 percent this year.  For more information, click here.

California Tax Attorney Confirmed as New IRS Chief Counsel

After a two-year vacancy, the Internal Revenue Service (IRS) has a Chief Counsel again.  Michael Desmond, a California tax attorney originally nominated by President Donald Trump last year, was confirmed 83-15 today by the Senate to oversee regulation drafting and provide guidance on federal tax law matters to the agency.  Read more here.

WSJ Publishes Clarification Regarding Results of Federal Tax Reform

Recent news accounts have claimed that federal taxpayers are receiving smaller tax refunds for the 2018 filing season, implying that their taxes are higher as a result of the 2017 Tax Cuts and Jobs Act. According to research by the Wall Street Journal, however, although refund amounts are indeed lower this year for many individuals, it is not necessarily a result of higher taxes.

National Taxpayer Advocate Report Details Challenges Facing IRS Due to Government Shutdown and New Federal Tax Laws

National Taxpayer Advocate Nina E. Olson recently released a report to Congress concerning the problems facing taxpayers with respect to their interactions with the Internal Revenue Service (IRS). For the 2018 filing season, she cites the government shutdown as the top concern: "The five weeks could not have come at a worse time for the IRS---facing its first filing season implementing a massive new tax law, with a completely restructured tax form." Severely outdated technology is the biggest roadblock to overcoming this challenge, which will require a major shift in federal funding strategy to fix.

TIGTA Releases Independent Assessment of IRS Private Collection Activities

The Treasury Inspector General for Tax Administration (TIGTA) recently released its biannual independent assessment of the Internal Revenue Service's (IRS') private debt collection program, which became a requirement under the 2015 FAST Act. According to TIGTA, the private collection agencies are performing well with respect to procedural accuracy and professionalism. Customer satisfaction scores are generally in the low- to mid-90 percent range.  As of September 2018, the private collectors had been assigned more than 700,000 taxpayer accounts and collected approximately $88.8 million from the balances owed.

IRS Plans for Government Shutdown

The Internal Revenue Service (IRS) recently posted its contingency plan for managing operations during the federal government shutdown, which includes reducing its available workforce for IRS functions by over 87 percent. Employees may be kept on for half a day to ensure an orderly close-down of operations. After the half-day period, most IRS activities will cease, including the issuing of refunds, processing amended returns, responding to taxpayer phone calls, and providing legal counsel. All audit functions will also stop during the shutdown period.

California Considers Text Messaging Tax

The California Public Utilities Commission recently released a decision finding that text messaging services could be subject to Public Purpose Program surcharges, as suggested by Commissioner Carla J. Peterman. The proposed decision does not have legal effect at this time, and the Commission is opening an additional phase during which it will consider transparency, competition, and methods to implement the proposed fees. For more information, click here: http://docs.cpuc.ca.gov/PublishedDocs/Efile/G000/M238/K227/238227359.PDF.

Ohio Becomes First State to Accept Bitcoin for Tax Payments

The Treasurer of Ohio announced this week that taxpayers in his state will be able to pay business taxes with cryptocurrency - making Ohio the first state in the U.S. to do so.

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