Significant Decline in IRS Staff Leads to Fewer Audits
The IRS plans to expend 18% fewer staff hours auditing large businesses with assets of more than $10 million in fiscal year 2013.
Published on April 12, 2013
Small businesses frequently use accounting software to maintain proper records as required by the IRS. If they are audited, they may have to turn over electronic files to the IRS that are not relevant to the request and may...
Published on April 23, 2013
AICPA Second Visitation Letter
...Employed Division, expressing the AICPA's concern over the rollout of the IRS's program to send letters to tax return preparers and visit their offices to inspect client records. The AICPA
Published on December 22, 2010
AICPA Tells IRS Preparers Deserve More Info, Clarity on 2011 Office Visits
In a December 22 letter to the IRS Small Business Commissioner, Patricia A. Thompson, chair of AICPA’s Tax Committee, reiterated AICPA’s many concerns about the broad scope of the Preparer Letters and Visitation program.
Published on January 28, 2011
IRS Issues Accounting Software Examination Guidance, Meets with AICPA
...examiners on when to request backup files of taxpayers’ accounting software during an examination, what the limits are on reviewing those electronic files, and how examiners must safeguard those records
Published on September 12, 2011
IRS Postponements Related to Hurricane Irene
The IRS announced relief for taxpayers whose return preparers were affected by Hurricane Irene. The September 15 tax return due date is extended to September 22 for taxpayers whose return preparer is located in an area that was under an evacuation order or a severe weather warning because of Hurricane
Published on September 15, 2011
IRS Provides More Tax Relief to Victims of Hurricane Sandy
On Friday, November 2, 2012, the IRS issued IR-2012-83, providing more tax relief to victims of Hurricane Sandy. Various return filings and tax payment deadlines have been extended until February 2, 2013. Includes certain tax-exempt organizations filing Form 990 series returns. Also can include those organizations outside the disaster areas
Published on November 05, 2012
AICPA Expresses Concerns and Requests Review of Procedure Regarding Release of PTIN Holder Information
The AICPA’s Tax team has had, and continues to have, numerous conversations with IRS regarding its recent release of PTIN holder information.
Published on October 28, 2011
Final Regs on EITC Due Diligence Issued
The IRS issued final regulations governing the due-diligence requirements imposed on tax return preparers who prepare tax returns on which taxpayers claim the earned income tax credit.
Published on December 20, 2011
IRS Responds to AICPA Accounting Software Examination Letter
The AICPA and IRS have corresponded regarding the AICPA’s concerns about the Service’s program to request the accounting software files of certain small business taxpayers under examination
Published on May 10, 2011