The IRS announced last summer that beginning in 2016, it would start deactivating Individual Taxpayer Identification Numbers (ITINs). If an ITIN has not been used on a US income tax return in at least one year during a period of five consecutive years, the ITIN will expire this year. An exact date has not yet […]

A proposed class-action lawsuit has been brought against the IRS.  As we shared over the past two months, the Internal Revenue Service (IRS) suffered a four-month long cyber data breach in which hundreds of thousands of taxpayers’ accounts were compromised through the Get Transcript application, and the citizens are striking back. In the suit, brought […]

UPDATE since the below chart was published: For 2016, Washington, DC will be celebrating Emancipation Day on Friday, April 15th moving the tax filing deadline to Monday, April 18 (due to Patriots Day, the deadline for Maine and Massachusetts is Tuesday, April 19th).   The extended deadline for 2016 is Monday, October 17. On the […]

In June, we told you about how the Internal Revenue Service (IRS) suffered a four month long cyber data breach in which hundreds of thousands of taxpayers’ accounts were compromised. The IRS released a statement on Monday stating that it believes those responsible for the breach were actually able to access the account information of […]

The Internal Revenue Service (IRS) suffered a four-month long cyber data breach in which hundreds of thousands of taxpayers’ accounts were compromised.  Thieves tried to access the tax accounts of 200,000 taxpayers, succeeding in about half of their attempts.  Of those 104,000 breaches, approximately 36,000 fraudulent tax year 2014 returns were filed to claim false […]

The Internal Revenue Service issued a memorandum last month that set maximum amounts on the penalties for failure to file a foreign bank account report (“FBAR”). In addition they issued new guidance on examination procedures of determining willful and non-willful violations.  The IRS is striving to ensure effectiveness and consistency in the FBAR compliance program […]