October 30, 2013
The IRS designed its Correspondence Imaging System (CIS) to automate the scanning of taxpayer correspondence. The Image Control Team units in IRS submission processing sites scanned more than 8.1 million pieces of paper correspondence into the CIS during Fiscal Year 2012.
October 30, 2013
Thomson Reuters Checkpoint has released an updated special report, Tax Changes in Health Care Reform Legislation, which is designed to help tax practitioners understand the tax provisions of health care reform that take effect now through 2018.
October 25, 2013
The impact of the recent federal government shutdown is being felt by the Internal Revenue Service (IRS) which announced that the beginning of the 2014 tax filing season will be delayed by up to two weeks.
October 25, 2013
The Internal Revenue Service needs to improve its process for conducting parallel investigations, according to an audit conducted by the Treasury Inspector General for Tax Administration.
October 22, 2013
Last year, it was the fiscal cliff that delayed the start of tax season- this coming year, blame it on the partial government shutdown.
October 22, 2013
The Internal Revenue Service has made no significant improvement in reducing improper Earned Income Tax Credit payments, according to the latest report released by the Treasury Inspector General for Tax Administration.
October 15, 2013
Thomson Reuters released a report on the IRS’s guidance on same-sex marriage following the Supreme Court’s ruling that struck down section three of the Defense of Marriage Act as unconstitutional.
October 8, 2013
The current lapse in federal appropriations does not affect the federal tax law, and all taxpayers should continue to meet their tax obligations as normal. Individuals and businesses should keep filing their tax returns and making deposits with the IRS, as required by law.
October 7, 2013
As this column goes to print, provisions of the Patient Protection and Affordable Care Act (also known as the “ACA,” or ObamaCare) will change accountants and tax preparers from “trusted advisors” to a more derogatory status:
October 1, 2013
On Monday night, the U.S. Congress rejected the U.S. Senate's version of the House bill for a debt limit increase, which effectively shuts down some of the non-critical operations of the federal government.
September 27, 2013
A Tulsa, Oklahoma, woman was sentenced Wednesday to five years of probation and was ordered to pay more than $79,000 in restitution to the Internal Revenue Service after pleading guilty to aiding and assisting in the preparation of a false federal income tax return.
September 18, 2013
The Tax Division of the U.S. Department of Justice has announced an agreement with Switzerland that would permit all but a few Swiss banks to avoid criminal prosecution by paying substantial fines and turning over information on accounts held by American clients.