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UNDER THE DOME

Tax Extenders Clear the Senate Finance Committee Includes Expansions for the R&D Tax Credit and Section 179D On July 21, the Senate Finance Committee took the first major steps on tax extenders legislation—which includes important provisions such as the R&D Tax Credit and the Energy-Efficient Commercial Building Deduction(Section 179D)—by approving a tax extenders bill on…

IRS Changes CIC Process; May Slow Down Audits for Large Taxpayers

The IRS recently announced a new process to risk-assess Coordinated Industry Cases (CIC), which are cases reserved for taxpayers with large gross receipts, gross assets and operating entities large enough to require systematic auditing. Rather than automatically examining them every cycle under a continuous audit, the IRS will review these taxpayers case by case. Hopefully,…

EYE ON THE EXECUTIVE

Unauthorized Access to 100,000 Tax Accounts on “Get Transcript” Application on IRS.gov On May 26, the IRS announced that taxpayer data was acquired by criminals from non-IRS sources to gain unauthorized access through the Internal Revenue Service’s “Get Transcript” application for information on approximately 100,000 tax accounts. The data used to gain the access included…

UNDER THE DOME

In late May, Congress was faced with the expiration of the highway bill and postponed any long-term solution for two months with a new deadline of July 31. However, during the discussions leading up to the temporary funding of the highway bill, several ideas surrounding taxes were floated. House Majority Leader Kevin McCarthy (R-CA) proposed…

2016 Filing Date: As late as April 18

The IRS reported on May 19 that the tax filing date for 2016 will be April 18; except if a taxpayer resides in Maine or Massachusetts, then it will be April 19. Next year, April 15 will be on a Friday, which is also a holiday observed in Washington D.C. for Emancipation Day. Since tax…

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Washington D.C.
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aNlogo-footer3@2x

Washington D.C.
Willard Office Building, Suite 300 1455 Pennsylvania Ave.
Washington, D.C. 20004
202.888.7006

© 2021 alliantNational. - All Rights Reserved.

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