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  • Taxpayer protections, IRS oversight bills advance in Congress

    Responding to growing concerns over the scope of tax-related identity theft, the House has approved legislation to give victims more information about the crime. The House also took up a bill expanding disclosure of taxpayer information in cases involving missing children and the Ways and Means Committee approved a bill impacting disclosures by exempt organizations.Stolen identity refund fraudTax-related identity theft occurs when a criminal uses the personal identification of another to obtain ...  Read More...

  • IRS prepares to launch voluntary certification program for PEOs

    The IRS is set to launch its new voluntary certification program for professional employer organizations (PEOs), also known as employee leasing organizations, on July 1, 2016. A recently-released guidance package describes how PEOs can obtain certification to become “certified PEOs” (CPEOs).PEOsAn employer may contract with a PEO to complete and file returns and pay and withhold employment taxes (income tax withholding, FICA and FUTA) on wages paid to employees. Some arrangements also call for h...  Read More...

  • IRS gearing up for revived private tax collection

    The IRS is gearing up to outsource some taxpayer collection accounts to private collection agencies. Legislation passed in 2015 directed the IRS to resume working with private collection agencies. The revived program is expected to operate in a similar manner to past ones, with emphasis on taxpayer protections.Prior outsourcingCode Sec.   Read More...

  • How do I…calculate the EITC for members of the U.S. military?

    To claim the EITC, a taxpayer must satisfy two tests with respect to earned income. First, the taxpayer must have some earned income. Additionally, the taxpayer’s earned income must fall within certain ranges as the credit is subject to income phaseout.   Read More...

  • FAQ: Is the cost of a weight loss program for obesity tax deductible?

    Yes …but only if it is a medical necessity. The IRS has ruled that uncompensated amounts paid to participate in a weight-loss program as treatment for a specific disease or diseases (including obesity) diagnosed by a physician are deductible expenses for medical care. The deduction is subject to the limitations of Code Sec.   Read More...

  • June 2016 tax Compliance Calendar

    June 2Employers. Semi-weekly depositors must deposit employment taxes for May 25–27. June 3Employers. Semi-weekly depositors must deposit employment taxes for May 28–31. June 8Employers.   Read More...

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