IRS Expects New Taxpayer Advocate in April

The IRS expects to have a permanent leader for the Taxpayer Advocate Service in place by early April, according to Bloomberg Tax. The Taxpayer Advocate Service is an independent office within the IRS that serves as the internal watchdog for the agency and makes recommendations to Congress about how the IRS could better serve taxpayers…. Read more »

Category: IRS

IRS Proposes Rules for Deducting Business Meals

The IRS last Friday released proposed rules for businesses to follow when deducting business meals and entertainment expenses following the 2017 tax overhaul. Prior to changes in the tax law, the deduction was limited to 50% of the cost of meal and entertainment expenses. The 2017 Tax Cuts and Jobs Act repealed the deduction for… Read more »

Trump Budget Would Boost IRS Funding

President Trump’s fiscal 2021 budget plan proposes $12 billion in funding for the Internal Revenue Service (IRS), up from the $11.5 billion allocated to the agency in the fiscal 2020 government funding bill the president signed in December. The proposed budget increase is intended to allow the IRS to “modernize its systems to improve taxpayer… Read more »

IRS Urged to Complete Donor Disclosure Rollback

The IRS took a step closer to rolling back donor disclosure requirements for certain tax-exempt organizations after hearing from witnesses at an agency hearing Feb. 7. The IRS has proposed removing the requirement that trade associations and other tax-exempt groups provide the names and addresses of donors who contribute $5,000 or more on Schedule B… Read more »

IRS Allows Charities to Apply for Tax-Exemption Online

In an effort to improve service to the tax-exempt community, the Internal Revenue Service (IRS) announced Jan. 31 that charities can file all paperwork to apply for tax-exempt status online. The IRS has revised Form 1023, the application for 501(c)(3) tax-exempt status, and its instructions. “Filing electronically reduces errors, and we believe this will help… Read more »

Category: IRS