As the federal government shutdown passes the two-week mark, and as thousands of Internal Revenue Service employees face furloughs and/or firings, the tax agency has announced a series of significant
Continue Reading IRS Makes Top Leadership Moves While Federal Government Remains ShutteredIRS Increased Audits Of High-Income Individuals During FY2024, But Future Of Initiative Under New Administration Is Doubtful
A recent report from the Treasury Inspector General for Tax Administration (TIGTA) found that the Internal Revenue Service increased audits of high-income taxpayers during fiscal year 2024, in line with
Continue Reading IRS Increased Audits Of High-Income Individuals During FY2024, But Future Of Initiative Under New Administration Is DoubtfulTaxpayer Advocate Offers Candid Assessment of State of IRS Workforce and Other Challenges Facing the New IRS Commissioner
The National Taxpayer Advocate has released her Fiscal Year 2026 Objectives Report to Congress, a statutorily-required annual report outlining the objectives of the Office of the Taxpayer Advocate for
Continue Reading Taxpayer Advocate Offers Candid Assessment of State of IRS Workforce and Other Challenges Facing the New IRS CommissionerAuditor Releases “Snapshot” of IRS Workforce Revealing Devastating Extent of Initial Job Cuts
The Treasury Department’s Inspector General for Tax Administration (TIGTA) has released a report showing how the Internal Revenue Service has been dramatically impacted by government-wide efforts to reduce the size
Continue Reading Auditor Releases “Snapshot” of IRS Workforce Revealing Devastating Extent of Initial Job CutsIRS Provides Additional Extensions for Taxpayers Affected by Terrorist Attacks in Israel
IRS Notice 2024-72, provides relief for individuals and businesses affected by terrorism in Israel.
Continue Reading IRS Provides Additional Extensions for Taxpayers Affected by Terrorist Attacks in Israel
IRS Going All in on Use of ArtificiaI Intelligence
The IRS issued a news release today announcing a continued and more focused use of Artificial Intelligence (AI) to audit partnerships, large corporations and alleged tax shelter promoters. The news
Continue Reading IRS Going All in on Use of ArtificiaI IntelligenceInternal Revenue Service’s LB&I Division Announces Compliance Campaign Focused on TCJA
The Internal Revenue Service’s Large Business & International Division has announced another compliance campaign, its 64th such campaign since the first set of campaigns was unveiled in 2017. This latest
Continue Reading Internal Revenue Service’s LB&I Division Announces Compliance Campaign Focused on TCJA
IRS Steps Up Scrutiny of Micro-Captive Insurance Transactions
The Internal Revenue Service has announced an overwhelming acceptance rate for a time-limited settlement offer made to certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Nearly 80%
Continue Reading IRS Steps Up Scrutiny of Micro-Captive Insurance Transactions
59 and Counting: IRS LB&I Announces Six More Compliance Campaigns
Earlier this week, the Internal Revenue Service’s Large Business & International Division announced six more compliance campaigns, bringing the total number of campaigns announced to date to a whopping 59.
Continue Reading 59 and Counting: IRS LB&I Announces Six More Compliance Campaigns
IRS LB&I Announces Three More Compliance Campaign, All Focused on Offshore Activities
Yesterday, the Internal Revenue Service’s Large Business and International division (LB&I) announced three additional compliance campaigns, bringing the total number of campaigns announced to date to 53. These campaigns reflect
Continue Reading IRS LB&I Announces Three More Compliance Campaign, All Focused on Offshore Activities