IRS WATCH

IRS beefs up identity verification for online self-help

By Michael Cohn       3 min read

The Internal Revenue Service is strengthening the identity verification and sign-in process for its online self-help tools after a number of high-profile data breaches.  Read story →

What’s in the House-passed tax and spending bill backed by Biden

By Laura Davison, Ari Natter and Alexander Ruoff       5 min read

The House passed a roughly $2 trillion bill incorporating the core of President Joe Biden’s economic agenda — ramping up funding for the social safety net and increasing taxes on corporations and the wealthy — sending it on to the Senate, where it’s likely to be significantly reshaped. Read story →

House passes Biden’s economic plan, Senate fate uncertain

By Erik Wasson and Billy House       6 min read

President Joe Biden’s signature plan to expand the social safety net, address climate change and rewrite tax policies passed the House Friday morning as Speaker Nancy Pelosi united fractious Democrats to send the legislation to the Senate, where its fate remains uncertain. Read story →

Tax Fraud Blotter: Waffles with a side of sham

By Jeff Stimpson       6 min read

Too much for the man; just sign here; candid con; and other highlights of recent tax cases. Read story →

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Ultra-rich skip estate tax and spark a 50% collapse in IRS revenue

By Ben Steverman       2 min read

Just 1,275 families paid $9.3 billion in estate tax in 2020, down from $20 billion from nearly 5,500 families in 2018.  Read story →

Accountants press IRS for faster refunds and responses

By Michael Cohn       4 min read

The National Society of Accountants has sent a letter asking the IRS to speed up the refunds for 2019 and 2020 tax returns and communicate better. Read story →

IRSAC: Full funding for IRS a smart ‘first step’

By Jeff Stimpson       1 min read

The advisory group’s annual report supports the IRS’s 2022 budget request. Read story →

IRS warns of tax debt OIC scams

By Michael Cohn       3 min read

The Internal Revenue Service posted a series of videos to explain how taxpayers can steer clear of scammers who claim to be able to help them with their tax debts while charging exorbitant fees and making outrageous claims. Read story →

Accounting Principals releases 2022 salary guide for accountants

By Michael Cohn       4 min read

Accounting Principals has issued its annual salary guide for accounting and finance professionals as the labor shortage that’s been hitting so many industries this year has also driven demand for accountants. Read story →

CohnReznick steps up competition for accounting staff

By Michael Cohn       10 min read

CohnReznick, a Top 20 Firm based in New York, has been upping its recruitment game to attract new employees during the current labor shortage, improving its compensation and benefits policies to entice new staff.  Read story →

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