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Stories that are tagged 'Internal Revenue Service (IRS)'

US Treasury Ordered To Review All Recent Tax Regulations

by Mike Godfrey,, Washington

Last updated 34 hours ago | Tuesday, April 25, 2017

The US Treasury Department is to launch a review into tax regulations introduced since January 1, 2016. Read Full Story


NTUF Says US Simpler Tax Code Long Overdue

by Mike Godfrey,, Washington

Tuesday, April 18, 2017

The National Taxpayers Union Foundation has urged US lawmakers to address the tax compliance burden as part of comprehensive tax reform. Read Full Story


IRS Property Seizures Hit Mainly Law-Abiding Taxpayers

by Mike Godfrey,, Washington

Monday, April 10, 2017

The US Bank Secrecy Act's anti-structuring provisions were mainly used by the Internal Revenue Service against individuals and businesses whose income was legally obtained, says a new report. Read Full Story


IRS Guides On New Payroll Tax Credit Option For Small Firms

by Mike Godfrey,, Washington

Friday, March 31, 2017

The Internal Revenue Service has released interim guidance for small businesses seeking to take advantage of the new option to apply their research credit against their payroll tax liability, rather than their income tax liability. Read Full Story


IRS Prepares For 'Revenue From Contracts With Customers' Standard

by Mike Godfrey,, Washington

Wednesday, March 29, 2017

The Internal Revenue Service has published a proposed revenue procedure in Notice 2017-17 for taxpayers seeking to change a method of accounting for recognizing income after the adoption of the new financial accounting standards for recognizing revenue (IFRS 15). Read Full Story


IRS 'Ignored Warnings' Over Compromised IP PIN Program

by Mike Godfrey,, Washington

Tuesday, March 28, 2017

The Treasury Inspector General for Tax Administration says the Internal Revenue Service ignored warnings regarding a security breach to its Identity Protection Personal Identification Number program. Read Full Story


IRS To Provide Expedited Audit Mediation For Small Businesses

by Mike Godfrey,, Washington

Wednesday, March 22, 2017

The Internal Revenue Service has released a new revenue procedure that creates a fast-tracked method for small businesses and self employed persons to engage with the IRS to resolve disputes. Read Full Story


IRS Offers Storm-Hit Firms More Time To Request Filing Deferral

by Mike Godfrey,, Washington

Thursday, March 16, 2017

The Internal Revenue Service has granted those businesses affected by Winter Storm Stella additional time to request a six-month extension to file their 2016 federal income tax returns. Read Full Story


US Virtual Currencies Industry Calls For Tax Certainty

by Mike Godfrey,, Washington

Thursday, March 9, 2017

Leading virtual currency industry stakeholders have formed a coalition to lobby in Washington DC for more effective tax policies for virtual currency markets in the United States. Read Full Story


IRS Sees Recovery In US Tax Returns Received

by Mike Godfrey,, Washington

Friday, March 3, 2017

The US Internal Revenue Service is now, after an initial drop, seeing a resurgence in the number of tax returns it is receiving from taxpayers in the 2017 tax season, which began on January 23. Read Full Story




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