Tag Archive: IRS

Tax Season Looms Large

February 2, 2022 5:31 pm Published by

Anticipation of a fraught tax season is leading Democrats to consider more funding for the IRS to assist and educate taxpayers.

Tax Gap as Pay-For: What it Means

July 14, 2021 1:30 pm Published by

The latest infrastructure proposal includes a $100 billion pay-for by closing the tax gap through increased IRS enforcement, which could be a problem for small businesses.

NSBA Survey: Tax Complexity A Major Problem for Small Firms

April 10, 2014 6:00 am Published by

NSBA today released its 2014 Small Business Taxation Survey which provides detailed insight on how America’s small-business community is being impacted by federal taxes and shows how complexity and inconsistency within the tax code continue to plague small businesses.

IRS Announces Fast Track Settlemet for Small Business

November 13, 2013 7:47 am Published by

The IRS announced last week they will begin allowing small businesses under audit to utilize their Fast Track Settlement (FTS) program in an effort to provide a more timely, less costly way to settle IRS disputes.

Use It or Lose It Rule for Health FSAs May Be Eliminated

August 8, 2012 1:12 pm Published by

The IRS has issued guidance on new rules for Flexible Spending Arrangements (FSAs) which establishes a limit of $2,500 on employee contributions as of 2014, and also has specifically requested input on whether or not to eliminate the so-called “use it or lose it” rule for health FSAs.

Report: Majority of IRS S-Corp Audits Fruitless

July 31, 2012 1:52 pm Published by

Last week, the Treasury Inspector General for Tax Administration released a new report outlining IRS audits on S-corporations which shows that 62 percent of audits of S-corps resulted in no recommended changes.

Taxpayer Advocate Mid-Year Report to Congress

July 10, 2012 3:19 pm Published by

National Taxpayer Advocate Nina E. Olson submitted her mid-year report to Congress which focuses on the impact of expired and expiring tax provisions, the rise in tax fraud and tax-related identity theft, and attempts to limit the National Taxpayer Advocate’s formal input on issues that affect taxpayer rights.