Category Archives: IRS NEWS

Find the latest updates and information about the Internal Revenue Service here!

House Budget Committee Proposal to Hold All Tax Refunds until the IRS can Verify Incomes of All EITC Filers

The fiscal year 2018 budget plan the House Budget Committee approved in July calls for a radical change in the Earned Income Tax Credit (EITC) that could harm millions of low-income working families and cause serious problems for the IRS in processing tax returns.  The budget would delay EITC payments indefinitely each year until the…

IRS grants tax extensions to those effected by Hurricane Harvey and Irma

We have received many questions from clients and relationships, discussing casualty loss tax deduction rules. The President approved a disaster declaration for Florida on Sunday, September 10, clearing the way for more support as Hurricane Irma slammed the state with powerful winds and storm surges. Casualty loss deductions for taxpayers are a primary tax benefit…

IRS targets summer rollout for e-Services upgrade

The Internal Revenue Service is planning June 18 as the tentative date for moving its e-Services platform to what it promises will be more secure and modern technology. In recent years, the IRS has experienced security breaches from identity thieves targeting several of its online self-service applications, including the Get Transcript app, the Identity Protection…

IRS Investigated 3,400 Cases of Tax ID Theft, Laundering, Cybercrime and Terrorism in 2016

In 2016, the Criminal Investigation (CI) division of the Internal Revenue Service initiated 3,395 cases in the fiscal year 2016 that focused on tax-related identity theft, money laundering, public corruption, cybercrime, and terrorist financing. That’s according to the IRS Criminal Investigation annual report, reflecting the significant accomplishments and criminal enforcement actions taken in the fiscal year 2016.…

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