Tax practice

by Ken Rankin

IRS Warns Of New ID Theft Scam: The Internal Revenue Service has warned of a fraudulent scheme that uses phony bank correspondence and IRS forms in an attempt to trick taxpayers into disclosing their personal and banking data. The information is then used to steal the taxpayer’s identity and bank account deposits.

By George G. Jones and Mark A. Luscombe

by Roger Russell

THE INTERNAL RevIRS UPDATES WEB ITEM DEBUNKING FRIVOLOUS TAX ARGUMENTS: The Internal Revenue Service has updated its Web site item that addresses false arguments about the legality of not paying taxes or filing returns. The IRS chief counsel prepared a document addressing the most frequent arguments and posted it to the IRS Web site last summer. This is the first update of that posting.

E-Filed and Computer Returns Surge: The Internal Revenue Service continues to receive more tax returns electronically, with especially big increases in taxpayers e-filing from their own computers - almost 4.8 million, up 40 percent over this time last year - and for those e-filing federal and state returns together - more than 11.5 million, up 20 percent from this time last year.

Big Five firm Ernst & Young has developed a program that gives tax educators at colleges and universities across the country the chance to hone their knowledge about relevant tax issues over the Internet, thus keeping them up-to-date for their classroom teaching.

by George G. Jones and Mark A. Luscombe

by Roger Russell

IRS DETAILS TAX RELIEF FOR TERROR VICTIMS: The Internal Revenue Service has issued Publication 3920, explaining how to file claims under the Victims of Terrorism Tax Relief Act of 2001.