Tax practice

The National Association of Enrolled Agents said it has heard concerns from its members regarding the IRS list of 30 additional tax forms that 1040 filers won’t be able to begin filing until late February or early March.

The IRS has posted a list of 30 additional tax forms that 1040 filers can begin filing in late February or into March.

The Internal Revenue Service is giving tax preparers a chance to make up their continuing education hours if they didn’t complete all of the required hours by the end of last year.

National Taxpayer Advocate Nina Olson told Congress in her annual report that the Internal Revenue Service is not doing enough to assists victims of tax-related identity theft and tax return preparer fraud.

The Internal Revenue Service warned electronic filing providers Wednesday that they must not submit tax returns electronically before receiving all Forms W-2, W-2G and 1099-R from taxpayers.

The Internal Revenue Service said Tuesday that it plans to open the 2013 tax filing season and begin processing individual income tax returns on Jan. 30, more than a week after the initially planned start date of Jan. 22, but some returns cannot be processed until late February or March.

The Internal Revenue Service has begun accepting electronic signatures on requests for tax transcripts.

The Internal Revenue Service said Monday that its Modernized eFile system has begun accepting business tax returns.

Tax forms from the federal government and many states may be delayed in the aftermath of the fiscal cliff legislation, one of the largest tax preparation chains warned.

A Nevada federal court has barred Benyam Tewolde from preparing tax returns for others, the latest in a series of legal efforts against preparers affiliated with the Instant Tax Service chain.

The IRS has posted a Frequently Asked Questions page regarding Electronic Filing ID Numbers.

The Internal Revenue Service has issued proposed regulations to create a new taxpayer identifying number known as the IRS Truncated Taxpayer Identification Number, or TTIN, that can be used instead of a Social Security number in response to the growing problem of identity theft-related tax fraud.

The Internal Revenue Service could significantly increase the revenues it collects from taxpayers by targeting its enforcement resources better, especially by using correspondence exams, according to a new report.

Switzerland’s oldest bank, Wegelin & Co., has agreed to pay $74 million to the United States to settle charges that it conspired to evade taxes with its U.S. clients, in the first-ever guilty plea to tax law violations by a foreign bank.

The IRS has updated income-tax withholding tables for 2013, reflecting this week’s changes by Congress. The tables, issued after President Obama signed the changes into law, show the new rates in effect for 2013 and supersede the tables issued on Dec. 31, 2012.

President Barack Obama signed the legislation that enacts a last-minute budget deal and averts income tax increases for most U.S. workers, marking an end to a yearlong impasse.

Even though President Obama indicated only last Friday that the fiscal cliff deal likely to be produced by the January 1 deadline would be a basic package, lawmakers managed to come out with a surprisingly comprehensive set of tax provisions, some with long-lasting effects.

Seems like a timesaver in tax season: Scan all documents and let software auto-fill information from clients’ forms. Selecting scanners, however, means gambling that a hardware investment will, in fact, pay off, and that can mean carefully examining your client base and information flow.

The House passed a deal to avert an income tax rate increase on middle-class families on Tuesday night, following a New Year’s Eve vote by the Senate, sending the bill to President Obama for his signature.

It looks as though the Internal Revenue Service is finally convinced, like the rest of us, that it is going to have to deal with the new Medicare contribution taxes coming into effect in 2013.