Tax practice

The Internal Revenue Service has improved its audits of high-income taxpayers but needs to re-evaluate whether the threshold of $200,000 for auditing wealthy taxpayers efficiently uses the agency’s examination resources, according to a new report.

Highlights of some of our favorite tax-related blogs from the past week.

The Treasury Department and the Internal Revenue Service have outlined additional steps they are taking to reduce the tax benefits of corporate inversions, and when possible, stop the transactions from occurring.

IRS budget woes are the top priorities for Andy Mattson, recently appointed AICPA committee chair of the IRS Advocacy & Relations Committee.

The Internal Revenue Service has provided retailers and restaurateurs with a safe harbor of accounting for expenditures related to repairs, remodeling and refreshes.

The Internal Revenue Service is beginning the next round of its battle against tax-related identity theft by debuting a public awareness campaign to persuade more taxpayers to safeguard their personal information, in conjunction with tax preparation companies and state tax authorities.

The U.S. Treasury Department plans to release additional guidance this week aimed at deterring corporate inversions, though it can’t stop such tax-avoidance moves without new authority from Congress, Secretary Jacob J. Lew said.

Many accountants and valuation experts are anxiously attempting to predict the contents of the revised Section 2704 regulations from the IRS on the valuation of family limited partnerships and other family-controlled entities.

Sales and use tax rates increased slightly across the country in the third quarter of the year, according to a new report.

A pair of reports released Wednesday highlight the impact of yearly budget cuts on the Internal Revenue Service’s activities.

The Internal Revenue Service is taking a closer look at professional employer organizations to implement a recent law.

The National Society of Accountants has delivered what it calls “a strongly worded letter” to Congress criticizing them for slashing the IRS budget by hundreds of millions of dollars.

World leaders threw their weight behind a set of tax reforms for multinational corporations during a meeting in Turkey this week, endorsing the Organization for Economic Cooperation and Development’s Base Erosion and Profit Shifting, or BEPS, action plan.

For filing season 2016, the Internal Revenue Service will test a capability to verify the authenticity of W-2 data as part of a series of steps to combat tax-related ID theft and refund fraud.

A roundup of our favorite recent tax fraud cases.

The Internal Revenue Service did not maintain effective internal control over financial reporting as of Sept. 30, 2015, because of a continuing material weakness in internal control over unpaid tax assessments, according to a new report from the Government Accountability Office.

The Internal Revenue Service is making yearly adjustments to W-2 and 1099 forms, while adding brand new 1095 forms related to the Affordable Care Act to the list of required forms for filers this year.

Highlights of some of our favorite tax-related blogs from the past week.

With Paul Ryan newly instated as House Speaker, many are saying 2016 will be the year for major tax reform, according to Matt Becker, BDO USA regional managing partner for tax services.

An advocacy group for U.S. expatriates, American Citizens Abroad, is sounding the alarm about a provision in Congress’s highway funding bill that would revoke the passports of people who owe more than $50,000 in taxes.