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    Tax News 

    The Tax News page provides quick access links to recent news and articles regarding hot topics and trending issues. To view full monthly editions visit The Tax Adviser and the Journal of Accountancy.

    You can limit your search by using the predefined search filters on the left. Clicking on these filters will result in a list of resources based on your choice. “By Topics” will result in a list of different types of resources and documents related to that topic. “By Document Type” will result in a list of resources of a particular type (e.g., checklist, sample letter, or engagement letter) regardless of topic. You can apply multiple filters to narrow your search.

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    Thieves Access IRS Get Transcript App, 100,000 Accounts Compromised

    News The IRS announced on Tuesday that criminals have used taxpayer-specific information to gain access to approximately 100,000 taxpayers’ accounts through the IRS’s Get Transcript online application and steal those taxpayers’ data.
    Published on May 26, 2015

    Tax Reform, Lower Rates Among Top Legislative Goals, Ryan Tells AICPA

    News Rep. Paul D. Ryan, R-Wis., outlined his priorities since taking over House Ways and Means Committee leadership to members of the AICPA’s spring Council meeting in Washington.
    Published on May 19, 2015

    Supreme Court Invalidates Marylands Personal Income Tax Structure

    News The Supreme Court held that the personal income tax system imposed by the state of Maryland, which did not give taxpayers a credit against their county income tax for taxes paid to other states, violates the dormant Commerce Clause
    Published on May 18, 2015

    Basis Rules for Estates of 2010 Decedents Proposed

    News Proposed regulations would apply to decedents who died in 2010 and whose executors elected under Sec. 1022 to not have the retroactively reinstated estate tax apply to the decedents’ estates.
    Published on May 08, 2015

    Regs. on Notional Principal Contracts Change Treatment of Nonperiodic Payments

    News The IRS issued temporary and proposed rules under Secs. 446 and 956 amending how nonperiodic payments made or received under certain notional principal contracts are treated.
    Published on May 07, 2015

    List of Designated Private Delivery Services Is Updated, Postmark Rules Revised

    News The IRS updated the list of designated private delivery services (PDSs) that taxpayers can use to take advantage of Sec. 7502’s timely mailing equals timely filing/paying rule.
    Published on May 07, 2015

    Rulings Illustrate Transactions That Qualify as D Reorganizations

    News The IRS issued two rulings on transactions that qualify as D reorganizations and revoked Rev. Rul. 78-130.
    Published on May 06, 2015

    2016 Inflation Adjustments for HSAs Released

    News The IRS issued the inflation-adjusted figures for calendar-year 2016 for the annual contribution limits for HSAs and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans.
    Published on May 05, 2015

    Be on the Lookout Lists Gone From IRS Reviews of Sec. 501(c)(4) Applications

    News Two years after the scandal involving IRS reviews of applications for tax-exempt status, TIGTA issued a follow-up report.
    Published on April 30, 2015

    IRS Intends to Amend Rules So Refunds Match Foreign Withholding Payments

    News The IRS proposed that taxpayers that are subject to withholding under Ch. 3 or 4 and that make claims for refunds or credits of the withheld tax be prevented from obtaining them where a withholding agent failed to deposit the required amounts.
    Published on April 28, 2015

    CHIP Buy-in Programs May Qualify as Minimum Essential Coverage

    News An individual who may enroll in a CHIP buy-in program that has been recognized as minimum essential coverage by HHS will be treated as eligible for minimum essential coverage under the program for purposes of the premium tax credit only for the period the individual is enrolled.
    Published on April 27, 2015

    Proposed PFIC Rules Would Define Active Conduct of an Insurance Business

    News Proposed regulations would clarify the circumstances under which investment income earned by a foreign insurance company is derived in the active conduct of an insurance business for purposes of determining whether the income is passive income.
    Published on April 23, 2015

    Millions of Taxpayer Phone Calls Went Unanswered by IRS This Tax Season

    News The number of taxpayer phone calls answered by the IRS dropped significantly during this tax season and call wait times were up.
    Published on April 16, 2015

    IRS Grants Penalty Relief to Taxpayers Who Received Incorrect Health Care Forms

    News To ease the filing burden for taxpayers who received late or incorrect Forms 1095-A, the IRS announced that it will provide penalty relief for taxpayers.
    Published on April 13, 2015

    Wife of Anti-Tax Author Sentenced to Prison

    News A taxpayer was sentenced to 18 months in prison followed by one year of supervised release after being convicted of criminal contempt for failing to file amended tax returns as ordered by a judge and for filing a false income tax return.
    Published on April 10, 2015

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