identity theft also is part of the program.
the irs’ criminal investigation division is conducting fewer investigations with reduced staff, but there still is plenty of activity in its refund fraud program, which includes the return preparer program and the questionable refund program.
investigations are down 20 percent.
by 卡塔尔世界杯常规比赛时间 research
despite high-profile victories in the credit suisse and bank leumi cases, the irs’ criminal investigation division is struggling with lower staffing levels and a continuing decline in the number of cases pursued. read more →
prosecutions down 16 percent in 2014.
budget cuts are clearly undermining the nation’s ability to collect tax revenue and enforce tax laws, widening already gaping budget holes, 卡塔尔世界杯常规比赛时间 data show.
for instance, tax prosecutions, which peaked during the early clinton administration, bottomed during the bush administration. read more →
the daily show “the government agency whose entire business model relies on forcing americans to live as borderline hoarders only keeps their sh*t for six months?” stewart asks acidly. “you never get a notice from the irs that says, … continued
through april 11, with only days to go, the nation’s professional tax practitioners had efiled almost 62 million returns, down about 207,000 from the same time a year before, or 0.3%. that may represent something of a last-minute recovery, considering … continued
it’s better than last week’s 704,000-return deficit.
but irs data shows the professional tax preparer industry is still running behind year-ago rates, with 48.8 million returns e-filed in the latest week, compared to 49.2 million in the year-ago period. read more →
do the math: pro market shrinks by 2 points.
the nation’s tax professionals have e-filed fewer than 44 million returns through march 21, off 1.3% or 571,000 returns, from the same point past year, while self-filers are running 5.9% ahead of last year, having transmitted 31.7 million returns.
do the math and you’ll find professionals’ 60% share of the e-filing market last year has slipped to about 58% – a seemingly small amount that, nevertheless, translates into hundreds of thousands of returns and millions in lost revenues. it’s a trend that shows no sign of slowing or reversing, according to 卡塔尔世界杯常规比赛时间 analysis.
item 5: brace for new work.
by hitendra patil
pransform inc.
you may need to start asking your clients about bitcoin. new irs guidance treats bitcoins and other crypto-currencies not as money, but as property, for tax purposes and applies immediately to all returns. see the full text of notice 2014-21 (pdf).
among other things, the irs advised that:
is it an opportunity for tax professionals or a “scam on the public?”
in irs emerges as major tax season competitor, rick telberg’s suggestion that the irs is stealing business from tax professionals by offering clients free software apps is setting off a flood of comments. join the pro member conversation. read more →
when will tax season kick into high gear for professionals? or is this the new normal?
how’s tax season for most professionals?
join the survey; get the answers.
today’s bonus question:
best tips and strategies for working at home. read more →
in its first sounding on tax season 2013, the irs says filings are coming in faster this year. and that may be true enough. as of feb. 7, the irs received 27.3 million returns, up 2.5 percent compared to the same time last year. electronically filed returns account for almost 96 percent of those filed so far this year.
but filing by professionals is actually running behind last year, by about 5.6%, and without the crushing effects of last year’s government shutdown. read more →
bookkeeping data is notoriously unreliable. so why is the irs relying on it?
get the instant download:
the 10-minute bookkeeping test
by frank stitely
sk cpas
“please give me a copy of your 1099-misc forms.”
the irs agent was a 25-year-old woman, with only a couple of years of experience dealing with my client.
my client was the “how-dare-you-question-me?-i’m-a-taxpayin’,-god fearin’-american” type of client – one of those guys who think the marlboro man is a wimp.
but he had a tax problem. he was being audited and he had thrown out all of his paper records when he moved his office.
missing 1099-misc
he didn’t have copies of his 1099-misc forms. so he had his bookkeeper reprint them from quickbooks. i gave them to the irs agent.
“mr. stitely, these 1099 forms don’t match what we have in our records.” read more →
taxpayers surge into e-filing.
growth in do-it-yourself electronic filing of tax returns is advancing by more than 4% this year. but among tax professionals, it’s flat this year, after a 3% decline last year.