Secretary Mnuchin has announced that David J. Kautter, Treasury’s Assistant Secretary for Tax Policy, will serve as Acting IRS Commissioner when my term ends next month. As Treasury’s top tax official, Kautter oversees development and implementation of tax policies and programs as well as...
The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million...
The January 20 swearing-in of Donald Trump as President - and the resulting change in control of the Administration to Republican hands – will result in significant changes in tax policy. What can tax professionals expect as we begin tax season and beyond? IRS Commissioner: IRS...
The IRS yesterday issued final regulations that aim to curtail earnings stripping transactions by corporations. The rules set documentation requirements "for certain related-party interests in a corporation to be treated as indebtedness for federal tax purposes, and treat as stock certain...
As part of the ongoing Security Summit efforts, the IRS today released a new YouTube video urging tax professionals to take the necessary steps toward guarding their data and protecting clients from identity theft. The video featuring IRS Commissioner John Koskinen warns tax professionals...
NSA Executive Officers meeting with IRS Commissioner Koskinen The August 10th discussion between NSA and IRS Commissioner Koskinen will focus on improving services, reducing audit requests during tax season and increasing IRS budget appropriations. NSA President Kathy Hettick,...
The Internal Revenue Service today announced important changes to help taxpayers comply with revisions to the Individual Taxpayer Identification Number (ITIN) program made under a new law, which implements provisions of the December 2015 PATH Act. The changes require some taxpayers to renew...
A federal court on August 3 again dismissed the American Institute of CPAs' lawsuit to stop the implementation of the Internal Revenue Service's voluntary registration program. NSA members may recall that the U.S. District Court for the District of Columbia previously dismissed the AICPA's...
The IRS Security Summit, consisting of the IRS, state tax agencies and the private-sector tax industry, has released a warning to tax preparers that they increasingly are targets of cybercriminals and should take appropriate steps to protect clients from data theft. IRS also posted Fact...
The Internal Revenue Service has issued a consumer alert about possible fake charity scams emerging due to last weekend’s mass-shooting in Orlando, Fla., and encourages taxpayers to seek out recognized charitable groups. When making donations to assist victims of last weekend’s terrible...
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