Category Archives: IRS

You’ll be happy to know that the IRS is closing 68 Taxpayer Assistance Centers (TACs) as “…part of the agency’s continuing efforts to create efficiencies, modernize operations, and reduce costs while maintaining [our] commitment to public service.” Of course, as … Continue reading →

According to a report in the Tax Analyst, the IRS will close some taxpayer assistance offices. The Wall Street Journal reported that 70 offices will be closed in order to handle a 1% drop in funding for taxpayer assistance. Unfortunately, … Continue reading →

The Treasury Department revised the new Circular 230 rules yesterday. The changes, detailed here, make some minor clarifications to the new rules. They also correct a problem that would have occurred with text-based emails (the requirement that the font size … Continue reading →

Here’s some text you will be seeing if you get any emails from your EA or CPA (and will probably be in every tax article you read): This opinion is limited to the one or more Federal tax issues addressed … Continue reading →

>From the TaxProf Blog, a Washington Post story shows that the IRS spends 60% of its funds for a tuition reimbursement program on administrative expenses. That’s 40% for tuition reimbursement. The IRS, of course, reminds us taxpayers that “Charities scams … Continue reading →

According to this story in the Boston Globe, the US’s “tax gap” is between $312 billion and $353 billion for individuals (not corporations). This gap consists of underreporting of income, underpayment of taxes, and nonfilers. While the IRS’s enforcement efforts … Continue reading →

The New York Times has for years editorialized against corporations “abusing the Tax Code.” But does the Times practice what they preach? Of course not— that would be fiscally irresponsible. As Allan Sloan reports in today’s Washington Post (hat tip: … Continue reading →

…It usually is. The New York Times today has a story on tax shelters (free registration required). It’s good reading, and brings up the basic issues that you need to consider about any tax shelter: – Is there a purpose … Continue reading →