Paul L. Caron
Dean
Pepperdine Caruso
School of Law
IRS News
-
IRS Releases Tax Data — Estate Tax Revenues Fell 36% (Returns Fell 55%) in 2010
The IRS’s Statistics of Income Division yesterday released: Filing Year 2010 Estate Tax Study—Three tables are now available showing Filing Year 2010 data for estate tax returns (Forms 706). One table shows income, deduction, and tax computation data, classified by taxability of return and size of estate. A second table shows selected tax computation data…
-
IRS Issues Guidance to Estates on Portability Election
IR-2011-97 (Sept. 29, 2011), Surviving Spouses to Benefit from Portability Election; Estate Tax Return Required to Make this Choice For Some, Form 706 Due as Early as Oct. 3: The IRS today reminded estates of married individuals dying after 2010 that they must file an estate tax return to pass along their unused estate &…
-
IRS Launches Redesigned Website
The IRS today launched a revamped website: Here is the prior website:
-
TIGTA: 61% Error Rate in Tax Returns Prepared by VITA Program
The Treasury Inspector General for Tax Administration yesterday released Accuracy of Tax Returns, the Quality Assurance Processes, and Security of Taxpayer Information Remain Problems for the Volunteer Program (2011-40-094): The Volunteer Program plays an important role in achieving the IRS’s goal of improving taxpayer service and facilitating participation in the tax system. It provides no-cost…
-
IRS Seeks to Hire Economists
Economist (Salary: $51,630-$67,114; Deadline: Sept. 26, 2011) Senior Economist (Salary: $105,211-$136,771; Deadlne: Sept. 30, 2011) Senior Economist (Salary: $107,701-$140,008; Deadline: Sept. 30, 2011) Senior Economist (Salary: $114,468-$148,806; Deadline: Sept. 30, 2011)
-
Tax Developments Affecting Same-Sex Couples
IRS, Questions and Answers for Registered Domestic Partners in Community Property States and Same-Sex Spouses in California Accounting Today, Congress Asks IRS to Simplify Tax Rules for Same-Sex Couples, Domestic Partners Patricia Cain (Santa Clara), IRS Guidance on Tax Reporting for Community Property RDPs Forbes, Shulman to Congress: Repeal DOMA You Dummies Wall Street Journal,…
-
IRS Seeks to Hire Director, Exempt Organizations Rulings and Agreements
USA Jobs: Director, Exempt Organizations Rulings and Agreements: The Director, Exempt Organizations Rulings and Agreements provides executive leadership and direction in all matters relating to the Rulings and Agreements programs of the Exempt Organizations function. The Director oversees a program designed to achieve the Tax Exempt and Government Entities Division’s strategic vision and mission by…
-
IRS Reaps Billions From Amnesty Program for Offshore Accounts
IR-2011-94 (Sept. 15, 2011), IRS Shows Continued Progress on International Tax Evasion: The IRS continues to make strong progress in combating international tax evasion, with new details announced today showing the recently completed offshore program pushed the total number of voluntary disclosures up to 30,000 since 2009. In all, 12,000 new applications came in from…
-
IRS Issues Guidance for Tax-Free Employer-Provided Cell Phones
The IRS yesterday released various forms of guidance explaining that employer-provided cell phones are excluded from the employee’s income as § 132 working condition fringe benefits and that the § 162 substantiation requirements are deemed to be satisfied. IR-2011-93 (Sept. 14, 2011) Notice 2011-72, 2011-38 I.R.B. ___ (Sept. 19, 2011) Field Exam Memo SBSE-04-0911-083 (Sept.…
-
IRS Announces Filing, Penalty Relief for Estates of Decedents Dying in 2010
IR-2011-91 (Sept. 13, 2011): The IRS announced today that large estates of people who died in 2010 will have until early next year to file various required returns and pay any estate taxes due. In addition, the IRS is providing penalty relief to certain beneficiaries of these estates on their 2010 federal income tax returns.…
-
GAO: Tax Whistleblower Claims Languish for Years at IRS
The Government Accountability Office today released Tax Whistleblowers: Incomplete Data Hinders IRS’s Ability to Manage Claim Processing Time and Enhance External Communication (GAO-11-683): Whistleblower claims can take years to go through the IRS review and award determination process. As of April 2011, about 66% of claims submitted in the first 2 years of the program,…
-
IRS Releases Instructions 11 Days Before Due Date For Decedents Dying in 2010
The IRS has released Form 706 (United States Estate (and Generation-Skipping Transfer) Tax Return) (28) pages, and accompanying instructions (43 pages), for decedents dying in 2010. For decedents who died between Jan. 1, 2010, and Dec. 16, 2010, Form 706 (and payment of estate and/or generation-skipping transfer tax) is due on Sept. 19, 2011. For…
-
Nina Olson Named to Administrative Conference of the United States
National Taxpayer Advocate Nina E. Olson has been named to the Administrative Conference of the United States, an independent federal agency comprised of members from the government and private sector, dedicated to improving the administrative process through consensus-driven research, and providing nonpartisan advice and recommendations to improve federal agency procedures.
-
Treasury & IRS Release 2011-12 Priority Guidance Plan
The Treasury Department and IRS today released the 2011-2012 Priority Guidance Plan: The 2011–2012 Priority Guidance Plan contains 317 projects that are priorities for allocation of the resources of our offices during the twelve-month period from July 2011 through June 2012 (the plan year). The plan represents projects we intend to work on actively throughout the…
-
TIGTA: Unauthorized U.S. Workers Claimed $4.2 Billion in Tax Credits Last Year
The Treasury Inspector General for Tax Administration yesterday released Individuals Who Are Not Authorized to Work in the United States Were Paid $4.2 Billion in Refundable Credits (2011-41-061): Individuals who are not authorized to work in the United States received billions of dollars from the IRS last year in a refundable tax credit based on…
-
IRS Releases Summer 2011 SOI Bulletin
The IRS’s Statistics of Income Division yesterday released (IR-2011-86) the Summer 2011 SOI Bulletin (Vol. 31, No. 1), with these articles: Sole Proprietorship Returns, 2009 (p.5), by Jason Paninos & Scott Hollenbeck Foreign-Controlled Domestic Corporations, 2008 (p.71), by James R. Hobbs Interest-Charge Domestic International Sales Corporations, Tax Year 2008 (p.116), by Daniel S. Holik Corporate…
-
TIGTA: IRS Made Math Errors in 17% of its Taxpayer Math Error Adjustments
The Treasury Inspector General for Tax Administration yesterday released Some Taxpayer Responses to Math Error Adjustments Were Not Worked Timely and Accurately (2011-40-059): Most (98.4%) of the approximately 8.6 million math error notices were agreed to by the taxpayer. However, our review identified that some responses in which taxpayers disagreed with the math error notices…
-
IRS Follows 30-Day Rule for Responding to Taxpayers in Only 8%-56% of Cases
The Treasury Inspector General for Tax Administration today released Taxpayers Do Not Always Receive Quality Responses When Corresponding About Tax Issues (2011-40-058): In November 1998, the IRS issued Policy Statement P-6-12 requiring employees to initiate a response to taxpayer correspondence within 30 calendar days. Of 73 correspondence cases sampled from the Accounts Management function, only…
-
73% of U.S. Small Businesses Disappear Under New Treasury Definition
The Treasury Department’s Office of Tax Analysis has released Methodology to Identify Small Businesses and Their Owners: Due to data constraints and the lack of clear definitions, prior analyses of the tax code’s impact on small business owners were flawed. In this paper, we develop a methodology to define and identify small businesses. We then apply…
-
Johnston: Forget Taxes, It’s Wages That Plague Americans
Reuters, Forget Taxes, It’s Wages That Plague Americans, by David Cay Johnston: Here is how much economic progress America has made in the 21st Century: the average taxpayer’s 2009 income was at the same level as 1997. Average 2009 income was $54,283, just $18 more than in 1997 when you adjust for inflation. … And…
-
NY Times: Lawyer Calls Cave-in on 501(c)(4) Groups ‘Tumor on IRS’s Integrity’
New York Times, I.R.S. Handling of Donations Draws Ire of Both Parties, by Stephanie Strom: When it comes to things political, the IRS just cannot seem to win. … [O]n July 7, the IRS announced it was suspending those audits and would not seek gift taxes on donations to 501(c)(4) groups until it had reviewed…
-
IRS Issues Guidance for Estates of Decedents Dying in 2010
The IRS on Friday issued guidance for estates of decedents dying in 2010: IR-2011-83, Notice 2011-66, 2011-35 I.R.B. ___ (Aug. 29, 2011) Rev. Proc. 2011-41, 2011-35 I.R.B. ___ (Aug. 29, 2011) Form 8939, Allocation of Increase in Basis for Property Acquired from a Decedent Press and blogosphere coverage: Accounting Today, IRS Offers Guidance on Estate…
-
1,470 Millionaires Paid Zero Tax in 2009
Following up on yesterday’s post on the IRS’s release of Individual Income Tax Returns 2009 (Publication 1304): Huffington Post, American Millionaires: 1,400 Paid No U.S. Income Taxes in 2009: New tax data from the IRS shows that in 2009, incomes fell, unemployment claims rose, and the U.S. economy shed nearly two million taxpayers. And of…
-
U.S. Income Plummeted 15.2% in 2009
The IRS’s Statistics of Income Division yesterday released Individual Income Tax Returns 2009 (Publication 1304): [This] Publication contains complete individual income tax data. The statistics are based on a sample of individual income tax returns, selected before audit, which represents a population of Forms 1040, 1040A, and 1040EZ, including electronic returns. The report contains data…
-
Microsoft’s 7% Tax Rate Draws IRS Scrutiny
Reuters, Microsoft Use of Low-Tax Havens Drives Down Tax Bill, by Lynnley Browning: Things were rosy in the giant software company’s just-ended fiscal fourth quarter, which produced record sales of nearly $17.4 billion, a 30% increase in after-tax profit, and a 35% gain in earnings per share. But for the IRS and foreign tax authorities,…