Irs Filing & Compliance. Legal news and articles for April 18 - 25, 2017

The Fears of Tax SeasonIRS Data Breach Allows Hackers to Steal $30 Million from TaxpayersIs the Perception That the US Continues to Be a Tax Haven a Reality?Some Canadian bank record information being sent directly to IRSBGA Halftime Report: Progress Continues Amid DysfunctionNassar's foundation appears to have violated state law since 2014 ...IRS Targets Globally-Mobile Individuals and Businesses: The Importance of Proactive PlanningEx-Wiley College employee sues, claims financial mismanagementSPLC: Six hospitals in Louisiana and Mississippi violate regulations protecting low-income patientsWith Tax Day Nearly Behind Us, Justice Department Pivots to Warnings About Employment Tax ViolationsTaxpayer ID Numbers: Difficult Road Ahead for BanksComing Soon: Employer Mandate Penalties From the IRS ...Group protests Tax Day by reading US tax code outside IRS buildingFor Many Nonprofits, May 15 Is Tax Filing Deadline and Marks 'Start of the Year' ReviewTax Day: IRS red tape costs 797000 years of labor

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Are Religiously Affiliated Hospitals' Pension Plans Exempt From ERISA?
SHRMApril 5, 2017

"There have been over 30 church-plan class actions filed since 2013. For the plans ... The hospitals, however, reasoned that the IRS and the Department of Labor (DOL) have all supported their position that many religiously affiliated organizations are ...more »

Has It Become Too EZ to Gain Tax-Exempt Status?
ThinkAdvisorApril 5, 2017

When The Chronicle examined the latest informational Form 990 filings last year, it found that of some 100,000 organizations that had filed the EZ form, 1,888 reported revenue exceeding $50,000 within three years, and 765 of those reported revenue of ...more »

Irs Filing & Compliance. News and Stories

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 »

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 »

Some Canadian bank record information being sent directly to IRS
CBC.caApril 25, 2017

According to information obtained by CBC News under a U.S. Freedom of Information Act request, 31,574 such reports have been sent directly to Internal Revenue Service over the past two years under the U.S. Foreign Account Tax Compliance Act (FATCA ...more »

BGA Halftime Report: Progress Continues Amid Dysfunction
Better Government AssociationApril 24, 2017

The reform bill would align the state SEI filing with a person's IRS tax filing, would include information on debt and more sources of income and it broadens coverage of family member finances that may present conflicts. BGA is working, along with ...more »

Nassar's foundation appears to have violated state law since 2014 ...
The State NewsApril 24, 2017

Ex-MSU doctor Larry Nassar's Gymnastics Doctor Autism Foundation appears to have been non-compliant with Michigan law since 2014.more »

IRS Targets Globally-Mobile Individuals and Businesses: The Importance of Proactive Planning
JD Supra (press release)April 24, 2017

Sometimes, the degree of “ownership”, “control” or “beneficial interest” over foreign entities and foreign financial assets is ambiguous, especially when globally-mobile taxpayers do not use lawyers to structure their deal. All this may ... While IRS ...more »

Ex-Wiley College employee sues, claims financial mismanagement
Longview News-JournalApril 23, 2017

Strong also states in the lawsuit that throughout his four years at the college, he wrote many memos and spoke out against the defendants' non-compliance with the terms of the HBCU loan and with IRS regulations, employee compensation and fringe ...more »

SPLC: Six hospitals in Louisiana and Mississippi violate regulations protecting low-income patients
Southern Poverty Law CenterApril 19, 2017

If the hospitals do not respond, the SPLC intends to file a formal complaint with the IRS. “We hope we can work with the hospitals to address our concerns in a collaborative manner and bring their financial assistance policies into compliance ...more »

With Tax Day Nearly Behind Us, Justice Department Pivots to Warnings About Employment Tax Violations
JD Supra (press release)April 19, 2017

Following a relentless flurry of press releases announcing criminal charges against tax evaders in the run up to today's tax filing deadline (see here, here, and here), the Justice Department wasted no time in turning its attention to its next target ...more »

Taxpayer ID Numbers: Difficult Road Ahead for Banks
Bloomberg BNAApril 19, 2017

The fear is that the whole filing will be sent back, according to both Laurie Hatten-Boyd, a principal with KPMG LLP, and Denise Hintzke, global leader of the Foreign Account Tax Compliance Act initiative at Deloitte Tax LLP. “What's not clear ... As ...more »

Coming Soon: Employer Mandate Penalties From the IRS ...
Accountingweb.comApril 18, 2017

The IRS has yet to impose any penalties on employers for failure to comply with the Affordable Care Act employer mandate. But that could soon change, writes ...more »

Group protests Tax Day by reading US tax code outside IRS building
Washington ExaminerApril 18, 2017

The Tax Revolution Institute, a nonprofit advocating for a simpler and "voluntary" tax system, organized the protest and hopes members of the public will stop by ...more »

For Many Nonprofits, May 15 Is Tax Filing Deadline and Marks 'Start of the Year' Review
JD Supra (press release)April 18, 2017

At the end or beginning of each year, nonprofit organizations should review the written acknowledgement and quid pro quo letters it sends to donors to ensure that such letters are in compliance with federal rules and regulations. If a nonprofit does ...more »

Tax Day: IRS red tape costs 797000 years of labor
Washington ExaminerApril 18, 2017

Filling out annual IRS tax returns can be a hassle and take a long time, but the National Taxpayers Union Foundation has determined just how bad it is: in total, Americans spend 797,000 years worth of labor complying. ... Tuesday is the filing deadline ...more »

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