Irs Filing & Compliance. Legal news and articles for April 25 - 29, 2017

IRS Tax Fraud Prevention Program Costs Taxpayers $18.2 Million, But Doesn't WorkReality TV Star Suspected Something Was Amiss With Pet-Rescue GroupSome So-Called Nonprofit Pet Rescues May Not Really Be Charities, CBS2 Investigation FindsSome So-Called Nonprofit Pet Rescues May Not Really Be Charities, CBS2 Investigation FindsReforming America's Disastrous Tax System Is Long OverdueImproved Planning, Internal Controls, and Data Would Enhance Large Business Division Efforts to Implement New ...US FATCA And Common Reporting Standard Deadlines AlignedOnline Tax Services Could Generate Millions in IRS Revenue, GAO FindsDestructive 'fat cat' tax law a complete flop. It's time to repeal it.Trump Orders Review Of Obama Tax RulesIn the blogs: VATs all, folks!The Fears of Tax SeasonIRS Data Breach Allows Hackers to Steal $30 Million from TaxpayersIRS Data Breach Allows Hackers to Steal $30 Million from TaxpayersIs the Perception That the US Continues to Be a Tax Haven a Reality?

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U.S. Attorney: Tax crimes not tollerated
Shelby StarApril 6, 2017

Tax time can be stressful, but it doesn't pay to cut corners or try to deceive the IRS. The U.S. Attorneys Office cracks down on tax evaders and preparers who don't go by the book. “As tax filing season reaches its peak, we are putting would-be tax ...more »

Jeffrey Scharf: Everybody's Business: Advocate Service focuses on tax code improvements
Santa Cruz SentinelApril 6, 2017

Each year, the service prepares an annual report to Congress outlining ways to improve the tax code and IRS operations. With a new Congress and new president supposedly committed to tax reform, the service findings are especially pertinent. Here are ...more »

Irs Filing & Compliance. News and Stories

IRS Tax Fraud Prevention Program Costs Taxpayers $18.2 Million, But Doesn't Work
Washington Free BeaconApril 29, 2017

In 1994, in an attempt to catch fraudulent tax returns, the IRS created the Electronic Fraud Detection System. In 2009, the IRS began to modernize this system by working on the Return Review Program to replace it. "Despite the recognized need to get ...more »

Reality TV Star Suspected Something Was Amiss With Pet-Rescue Group
CBS Los AngelesApril 29, 2017

LOS ANGELES (CBSLA.com) — A TV reality star said Friday that she suspected something was amiss after her support of a pet-rescue group that wasn't in compliance with tax law. After a CBS2 News investigation learned that nearly a third of so-called ...more »

Some So-Called Nonprofit Pet Rescues May Not Really Be Charities, CBS2 Investigation Finds
CBS Los AngelesApril 28, 2017

However, CBS2 learned that Saving Spot's tax-exempt status from the IRS was revoked in 2015 for failing to file tax returns. The state attorney general's office also suspended its nonprofit status for failing to file paperwork. That means it is legally ...more »

Some So-Called Nonprofit Pet Rescues May Not Really Be Charities, CBS2 Investigation Finds
CBS Los AngelesApril 28, 2017

However, CBS2 learned that Saving Spot's tax-exempt status from the IRS was revoked in 2015 for failing to file tax returns. The state attorney general's office also suspended its nonprofit status for failing to file paperwork. That means it is legally ...more »

Reforming America's Disastrous Tax System Is Long Overdue
Daily CallerApril 27, 2017

According to the IRS, Americans spend an average of 13 hours and $210 per return to comply with the tax code through filing a 1040, 1040A or 1040EZ form. This complicated and time consuming process often causes compliance issues for taxpayers, as it is ...more »

Improved Planning, Internal Controls, and Data Would Enhance Large Business Division Efforts to Implement New ...
Government Accountability OfficeApril 27, 2017

The IRS's Large Business and International division audits large partnerships and corporations (worth at least $10 million) and wealthy individuals—which sometimes poses compliance challenges. For example, the underreported income tax of corporations ...more »

US FATCA And Common Reporting Standard Deadlines Aligned
Mondaq News Alerts (registration)April 27, 2017

Similarly, Liquidating Entities that were in existence in 2017 need to comply with their obligations for the year 2017 and file the respective reports with respect to 2018 Reportable Jurisdictions. ... As a leading provider of International Tax ...more »

Online Tax Services Could Generate Millions in IRS Revenue, GAO Finds
MeriTalk (blog)April 26, 2017

The Internal Revenue Service could potentially collect hundreds of millions of dollars by making online services available to more people, according to Eugene Dodaro, Comptroller General of the Government Accountability Office. The Federal ... “We need ...more »

Destructive 'fat cat' tax law a complete flop. It's time to repeal it.
The Hill (blog)April 26, 2017

Featuring witnesses representing the nine million Americans living abroad, the hearing will dramatize how this ill-conceived edict has turned law-abiding, middle-class citizens into virtual financial lepers. In the name of tracking down “fat cat” tax ...more »

Trump Orders Review Of Obama Tax Rules
ForbesApril 26, 2017

The President rightfully notes that individual taxpayers spend far too long on tax compliance: according to the Internal Revenue Service, the average burden for taxpayers filing a form 1040 is about 15 hours and $280 while the average for Form 1040EZ ...more »

In the blogs: VATs all, folks!
Accounting TodayApril 26, 2017

IRS Counsel has just clarified issues relating to a taxpayer's representative who is an “Unenrolled Return Preparer” and the doors opened to such a professional by the voluntary Annual Filing Season Program. ... Bloomberg BNA Software: Discussions and ...more »

The Fears of Tax Season
The Maine WireApril 25, 2017

“America traditionally has very high rates of voluntary compliance” from taxpayers, Williamson writes. Here again the author stumbles ... “Their anger,” we are told, “comes from the actual experience of filing income taxes and the search for loopholes ...more »

IRS Data Breach Allows Hackers to Steal $30 Million from Taxpayers
Americans for Tax Reform (blog)April 25, 2017

However, most of the fraudulent tax returns in question were filed in January - months after the IRS realized the tool posed a security risk. Koskinen says he was .... That is, if businesses could even afford an attempt at compliance. Estimates from ...more »

IRS Data Breach Allows Hackers to Steal $30 Million from Taxpayers
Americans for Tax Reform (blog)April 25, 2017

That is, if businesses could even afford an attempt at compliance. Estimates from the startup industry suggest 99% of all businesses would be wiped out unless Congress moves soon to rein in the Deeming Rule's burdensome barriers to approval for new ...more »

Is the Perception That the US Continues to Be a Tax Haven a Reality?
Daily Business Review (registration)April 25, 2017

The Foreign Account Tax Compliance Act (FATCA) was established to fight tax evasion by U.S. individuals and entities via the use of foreign accounts. FATCA has a long ... They now have to keep certain financial records and file IRS FORM 5472. This ...more »

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