Irs Filing & Compliance. Legal news and articles for May 15 - 19, 2017

W-2 Email Scam Finds More Victims in 2017Members Of Congress Question IRS's Digital Currency Strategy Including “John Doe” Summons To CoinbaseTime To Check The Financial Covenants: A Brief Summary Of Spring Loan Reporting RequirementsTax reform could save money, timeTax Fraud Blotter: Helping handcuffsIt's a DateCompliance UpdateData Series: An Interview with John Beccia, General Council of Circle Internet FinancialDetroit cracking down on back tax evadersVolume Delivery: Reporting Agents Grapple With Requirements3 Day Live Enrolled Agent Exam Prep Course to be Held in Reno, NevadaNew Motion Filed by Coinbase Users in Effort to Quash IRS John Doe SummonsTime to Check the Financial Covenants: A Brief Summary of Spring Loan Reporting RequirementsYou Must Comply: IRS LB&I Reveals Details of Its Inbound ...Why Did I Get Audited By The IRS?

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Last Gasp Attempt To Stop Notice 2016-66 Fails And May 1, 2017 Filing Deadline Approaches Quickly
ForbesApril 23, 2017

Although Plaintiffs may take issue with the IRS's interest in their industry, the public interest in identifying transactions potentially aimed at tax avoidance or evasion outweighs any incidental effects on entities forced to comply with the IRS's ...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 Filing & Compliance. News and Stories

W-2 Email Scam Finds More Victims in 2017
Bloomberg BNAMay 19, 2017

Data breaches at a relatively small number of organizations may represent the stolen data of hundreds of thousands of taxpayers, said Tamara Powell, acting director of the IRS Return Integrity Compliance Services. “Cyber criminals have continued to ...more »

Members Of Congress Question IRS's Digital Currency Strategy Including “John Doe” Summons To Coinbase
JD Supra (press release)May 19, 2017

None of the IRS operating divisions have developed any type of compliance initiatives or guidelines for conducting examinations or investigations specific to tax noncompliance related to virtual currencies. In addition, it does not appear that any of ...more »

Time To Check The Financial Covenants: A Brief Summary Of Spring Loan Reporting Requirements
Mondaq News Alerts (registration)May 19, 2017

These covenants appear in loans of all shapes and sizes – including real estate and corporate finance transactions – and while timely compliance with such obligations can yield positive outcomes, the failure to timely comply can result in ...more »

Tax reform could save money, time
Grand Island IndependentMay 19, 2017

According to the Tax Foundation, an independent tax policy research organization founded in 1937, tax compliance cost Americans approximately $409 billion in 2016. More than 8.9 billion hours were spent complying with tax-filing rules, which equates to ...more »

Tax Fraud Blotter: Helping handcuffs
Accounting TodayMay 19, 2017

The IRS audited 197 returns prepared by Bryant and determined that Bryant claimed credits and/or deductions her customers were not entitled to take on 189 of these returns and understated their tax liabilities by more than $800,000. ... A friend of the ...more »

It's a Date
Bloomberg BNAMay 18, 2017

1, the penalty for each document that is filed late increases to $260 from $100. Nov. 15 marks the start of the internal IRS/SSA Combined Annual Wage Record program, which runs for 12 months, Myett said. The dates apply to all tax years, Myett said at ...more »

Compliance Update
PLANSPONSORMay 18, 2017

Internal Revenue Service (IRS) employee plans (EP) staff reviewing benefit formulas in cash balance defined benefit (DB) plans have received new direction in the form of a recent IRS memorandum. In general, a qualified plan “within the meaning of ...more »

Data Series: An Interview with John Beccia, General Council of Circle Internet Financial
Bitcoin MagazineMay 18, 2017

I was doing a lot of the legal work there overseeing bank regulatory, compliance, and anti-money laundering matters as the BSA Officer. I did a lot of compliance and bank regulatory work dealing with issues like deposit, lending, and trust company issues.more »

Detroit cracking down on back tax evaders
Detroit Free PressMay 18, 2017

Hollowell told the Free Press the city sent out 7,000 mailings to individuals who they believe should have filed taxes for the 2014 tax year but didn't. On average, each person owed a ... ...There is not nearly the level of compliance with filing city ...more »

Volume Delivery: Reporting Agents Grapple With Requirements
Bloomberg BNAMay 17, 2017

The top payroll tax deposit and filing service providers, who account for 28 percent of the total employment tax deposits to the federal government, have been working with the Internal Revenue Service and state revenue agencies to resolve fraud issues ...more »

3 Day Live Enrolled Agent Exam Prep Course to be Held in Reno, Nevada
CPAPracticeAdvisor.comMay 17, 2017

Everett has authored or co-authored over 90 articles in academic and professional journals and is the coauthor of several textbooks, including CCH Practical Guide to Schedule M-3 Compliance, The HBJ Federal Tax Course, Income Tax Fundamentals, and ...more »

New Motion Filed by Coinbase Users in Effort to Quash IRS John Doe Summons
DCEBrief (press release)May 17, 2017

“Movants-Proposed Intervenors John Does 1 and 2, Coinbase customers whose accounts are covered by the IRS Summons, are not filing this motion to prevent the IRS from seeking records regarding their accounts due to a concern that they have violated any ...more »

Time to Check the Financial Covenants: A Brief Summary of Spring Loan Reporting Requirements
Lexology (registration)May 16, 2017

Unfortunately, while everyone was focused on tax season, it was easy to overlook that the end of one season signaled the beginning of a new one: loan covenant compliance season. Many commercial loan documents have three kinds of covenants that are ...more »

You Must Comply: IRS LB&I Reveals Details of Its Inbound ...
The National Law ReviewMay 15, 2017

On Wednesday, May 10, 2017, the Internal Revenue Service (IRS) Large Business and International Division (LB&I) hosted a webinar with the Association of ...more »

Why Did I Get Audited By The IRS?
Greater Wilmington Business JournalMay 15, 2017

According to the Internal Revenue Manual, the primary objective of the IRS in identifying and selecting returns for examination is to try to promote the highest degree of voluntary compliance. The IRS recognizes that it can examine only a small ...more »

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