November 12, 2014
Once the Tax Court ruled against a taxpayer in a controversial interpretation of the “once-a-year” rollover rule for IRAs, the IRS was only too willing and eager to jump on the bandwagon. But at least it delayed enforcement of the ruling until January 1, 2015. Now, under new guidance just issued by the IRS, procrastinators...…
November 12, 2014
The Internal Revenue Service has issued new guidance to clarify the impact a 2014 individual retirement arrangement (IRA) rollover has on the one-per-year limit imposed by the Internal Revenue Code on tax-free rollovers between IRAs.
November 6, 2014
The Internal Revenue Service does not adequately document its risk-based decisions involving Information Technology security, according to a report released publicly today by the Treasury Inspector General for Tax Administration.
November 5, 2014
The agency's system of records designed to document wireless device inventory was not consistently updated as changes occurred, which resulted in almost 57 percent of inventory records being inaccurate.
November 4, 2014
Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2014 and years ahead, according to the Internal Revenue Service.
October 28, 2014
The IRS is failing to provide personal identity numbers to all taxpayers who are the victims of tax-related identity theft, according to a report publicly released today by the Treasury Inspector General for Tax Administration ...
October 28, 2014
The Internal Revenue Service has released several options for Spanish speakers to get information about the tax provisions of the Affordable Care Act. Two recently issued YouTube videos feature IRS Commissioner John Koskinen: Disposición de La ...
October 24, 2014
The ongoing “Tea Party” scandal has appeared to loose some steam after a federal judge in the nation’s capital tossed out a lawsuit aimed by conservative nonprofit groups against the IRS (True the Vote, Inc. v. IRS, DC- Dist. Of Columbia, Civil Action No.
October 23, 2014
The Internal Revenue Service has released the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015.
October 21, 2014
The Internal Revenue Service (IRS) will not meet the Department of the Treasury’s 2015 goal for full compliance with a directive requiring Federal agencies to issue identification cards that allow workers to gain access to Federally controlled facilities
October 21, 2014
Management oversight and internal controls at the Internal Revenue Service’s (IRS) Office of Safeguards should be improved to ensure the effective protection of Federal Tax Information (FTI).
October 20, 2014
The report provides an overview of the AICPA’s Accounting and Review Services Committee’s new standard, which clarifies and revises the Statements on Standards for Accounting and Review Services (SSARS).