Lawmakers Question IRS’ New Sole-Source Identity Verification Contract with Equifax

The House Ways and Means Oversight Subcommittee held an October 4 hearing on the IRS’s efforts and challenges toward modernizing its information technology (IT) infrastructure. Witnesses from the IRS, Treasury Inspector General for Tax Administration (TIGTA) and Government Accountability Office (GAO) testified before the subcommittee. The IRS

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TIGTA Examines IRS’s Handling of Fraudulent Returns

The Treasury Inspector General for Tax Administration (TIGTA) recently reviewed the IRS’s handling of fraudulent returns filed by incarcerated individuals. According to TIGTA, some 17,000 incarcerated individuals claimed potentially fraudulent refunds worth $48 million. TIGTA reported that returns frequently are not supported by third-party income documents. In

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ACA Repeal & Replacement Fails in Senate; Administrative Changes Possible

At press time, it appears that legislation to repeal and replace the Affordable Care Act (ACA) – including its taxes – will not be revisited until after Congress’ August recess. Although there have not been any legislative changes to the ACA, there could be administrative changes. “The

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IRS’ Processes Inadequate for Notifying Individuals Without Health Insurance

The IRS did not issue the required notification letters by June 30, 2015, to taxpayers without Minimum Essential Coverage under the Patient Protection and Affordable Care Act (ACA) for tax year 2014, the Treasury Inspector General for Tax Administration (TIGTA) reported. In March 2016, the IRS’s ACA

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IRS Highlights Form 1042-S Filing, Common Errors, Amended Forms and Extensions

The IRS has reminded withholding agents of their responsibilities, some reporting changes and some common errors. The IRS also described filing requirements for non-U.S. citizens in certain circumstances. The due date for Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, is March 15. To request

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