IRS Statement on Court Ruling Related to Return Preparers Update May 16, 2013 Fee amounts collected for scheduled registered tax return preparer test appointments canceled due to the court ordered injunction are being refunded. Additionally, fees collected from return preparers who tested on or after January 18, 2013, the date the test was enjoined, are [...]
A new study by the National Taxpayer Advocate used confidential IRS data to show large clusters of potential tax cheats in these five metropolitan areas. The IRS uses the information to target taxpayers for audits….
Tax-Exempt Organizations Must File with IRS By May 15 A key deadline of May 15 is facing many tax-exempt organizations that are required by law to file annual reports with the Internal Revenue Service. Organizations will see their federal tax exemptions automatically revoked if they have not filed reports for three consecutive years. The Pension [...]
Last year, hundreds of Mo’ Money clients in several states alleged bounced checks, excessive fees and the failure of the business to pass along IRS refunds…
The IRS faced several time constraints this year. Tax professionals and taxpayers everywhere were anxious to process returns, and the effects of the delay were felt by everyone when tax season did not start on time. The major reason for the deferral was …
Sequester May Hurt IRS Collection Efforts The head of the Internal Revenue Service is warning that the government-wide spending cuts that took effect last month could hurt federal tax collections. IRS Acting Commissioner Steven Miller said, during testimony before a House Ways and Means subcommittee, the sequester could reduce the amount of enforcement revenue the [...]
Overall, the agency “has made little improvement in reducing EITC improper payments”…
Richmond’s Taxpayer Protection and Preparer Fraud Prevention Act of 2013 would give the Internal Revenue Service more oversight to certify paid tax preparers and ensure they are “competent, of good character and able to render services.” The legislation also would allow the IRS to…
Every year, the IRS releases its “Dirty Dozen” list of fraudulent tax practices that refund filers should be aware of. While these offenses occur year-round, the IRS stated they tend to happen more frequently and in greater numbers during filing season…
The Internal Revenue Service has rejected a reward claim made by a whistleblower, former banker Joseph Insinga, who had sued the agency in a closely watched case. According to Reuters, the IRS told Insinga on April 15 that he was not entitled to a reward…
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