![]() ![]() Security Summit: Identity Protection PINs are an important tool against tax-related identity theft IR-2023-135, JWith the IRS making substantial progress in the ongoing effort related to the Employee Retention Credit claims, Commissioner Danny Werfel said the agency has entered a new phase of increasing scrutiny on dubious submissions while renewing consumer warnings against aggressive marketing. IRS Commissioner signals new phase of Employee Retention Credit work with backlog eliminated, additional procedures will be put in place to deal with growing fraud risk IR-2023-136, JThe Internal Revenue Service today invited public input on improvements to certain post-filing alternative dispute resolution (ADR) programs currently offered to taxpayers. IRS invites public input on ways to improve dispute resolution programs suggestions wanted IR-2023-137, JToday, the IRS announced the selection of David Padrino to serve as the Chief Transformation and Strategy Officer, a recently created role at the agency that will spearhead improvement efforts under Inflation Reduction Act funding. IRS selects new Chief Transformation and Strategy Officer to lead change efforts under the Inflation Reduction Act David Padrino to oversee Strategic Operating Plan work to help taxpayers, drive agency improvements 1, 2023 - In the third installment of a special series, the Security Summit partners warned tax professionals to be aware of evolving phishing scams and cloud-based schemes designed to steal sensitive taxpayer information. ![]() Security Summit: Tax pros should remain vigilant against phishing emails and cloud-based attacks 3, 2023 - The Department of the Treasury and the Internal Revenue Service today issued proposed regulations identifying certain monetized installment sale transactions and substantially similar transactions as listed transactions – abusive tax transactions that must be reported to the IRS. Treasury and IRS issue proposed regulations identifying certain monetized installment sales as listed transactions 4, 2023 - The IRS issued Notice 2023-59 today regarding the requirements for home energy audits for taxpayers that want to claim the Energy Efficient Home Improvement Credit. Home energy audits may qualify for an Energy Efficient Home Improvement Credit Section 5000D was enacted as part of the Inflation Reduction Act. 4, 2023 - The Department of the Treasury and the IRS today issued guidance for manufacturers, producers and importers of certain drugs regarding the tax imposed by section 5000D of the Internal Revenue Code. Treasury and IRS issue guidance relating to section 5000D of the Internal Revenue Code 7, 2023 - The Internal Revenue Service reminds eligible contractors who build or substantially reconstruct qualified new energy efficient homes that they might qualify for a tax credit up to $5,000 per home. ![]() IRS: Builders of qualified new energy efficient homes might qualify for an expanded tax credit under Section 45L 8, 2023 - In the fourth of a special series, the Internal Revenue Service and the Security Summit partners today urged tax professionals to learn the signs of data theft so they can respond quickly to protect clients. Security Summit reminder: Identity theft red flags tax pros should know 9, 2023 - IRS cautions plan sponsors to be alert to compliance issues associated with ESOPs As part of an expanded focus on ensuring high-income taxpayers pay what they owe, the Internal Revenue Service today warned businesses and tax professionals to be alert to a range of compliance issues that can be associated with Employee Stock Ownership Plans (ESOPs). IRS cautions plan sponsors to be alert to compliance issues associated with ESOPs The challenges created by paper are two-fold: taxpayers are unable to digitally submit many forms and correspondence beyond their annual 1040 tax return, and the IRS is unable to digitally process paper tax returns it receives. 2023 - Paper-based processes have long hampered the IRS and frustrated taxpayers. IRS launches paperless processing initiativeįS-2023-18, Aug. ![]()
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