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Posts tagged "tax return preparers"

Long-Term or Short-Term Capital Gain? IRS Plans to Take a Closer Look

The IRS Large Business and International division (LB&I) is rolling out a series of campaigns focused on specific compliance issues. The division analyzed extensive data as well as suggestions from IRS compliance employees and the tax community to improve large business compliance activities.

What Does a San Jose Priest Have in Common with Al Capone? Prison!

No one is beyond the certainty of taxes, as a priest for the Roman Catholic Diocese of San Jose, California, discovered last week. Hien Minh Nguyen was sentenced to 36 months in prison for taking cash and checks donated to the Diocese by parishioners and depositing them into his personal bank account to pay for personal expenses. The court found that the priest embezzled a total of $1.4 million from the Catholic Church and, by concealing the embezzlement from his return preparer, evaded over $500,000 in income taxes owed to the IRS.

New Scam Targets Professionals' Tax Software Passwords, Security Summit Warns

The Internal Revenue Service (IRS) recently issued a warning to tax professionals to be alert to a new e-mail scam that impersonates tax software providers and attempts to steal usernames and passwords.  Recipients of these e-mails are told that, due to a recent software upgrade, the tax preparer must revalidate their login credentials. It provides a link to a fictitious website that mirrors the software provider's actual login page. However, instead of upgrading software, the tax professionals are providing their information to cybercriminals who use the stolen credentials to access the preparers' accounts and steal client information.

2017 IRS Tax Forum Registration Is Open

The Internal Revenue Service (IRS) hosts annual tax forums in various cities around the country throughout the summer months. Betty Williams will be speaking about tax audit triggers and tips at the IRS Nationwide Tax Forum held in San Diego, California, from September 12 through 14, 2017.

IRS Begins Publishing 2017 "Dirty Dozen" List

The IRS has begun releasing detailed notices on the top 12 most common tax scams taxpayers may encounter during the 2017 filing season. Included so far are:

FTB Delaying Some Refunds To Prevent Fraud

The California Franchise Tax Board (FTB) has delayed the tax refund process for at least 16,000 state taxpayers in order to complete extra identity verification steps to prevent refund fraud and identity theft.  The FTB is sending letters to some taxpayers whose returns were prepared professionally to request confidential information using various form letters to validate their claims for refund. 

What Should I Do If My Tax Preparer is Arrested?

Filing tax returns can be stressful, which is one reason many taxpayers hire a trusted professional to handle their returns for them. But what happens if your tax preparer turns out to be less trustworthy than you thought?

New Scam Targets Tax Professionals' Computers, IRS Warns

The Internal Revenue Service (IRS) has issued a warning regarding yet another scam tactic criminals are using this year to steal taxpayers' personal information and refund money. The new approach involves obtaining remote access to tax preparers' computer systems. Tax professionals are strongly encouraged to review and strengthen their computer security immediately.

What Are The New IRS 1095 Forms?

The new healthcare law has led to the introduction of a new series of Health Care Information Forms that many individuals will receive this tax season. The 1095-A, 1095-B, and 1095-C are designed to provide information you may need when filing your individual income tax return related to the Health Insurance Marketplace, your coverage for the past year, and what coverage your employer may have offered.

Court of Appeals holds that the IRS does not have the authority to regulate tax return preparers

On Tuesday the U.S. Court of Appeals for the District of Columbia Circuit found that the IRS had exceeded its statutory authority when it attempted to regulate tax return preparers. Loving v. Internal Revenue Service, No. 13-5061 (Feb. 11, 2014).

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