Internal Revenue Service Renews Warning about Form W-2 Scam

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The Internal Revenue Service, in conjunction with state tax agencies and the tax industry on Wednesday issued a news release renewing its warning about an email scam that targets payroll and human resources departments. This week, the Internal Revenue Service noted that it has already received new notifications that the email scam is making its […]

IRS Targeting Overstatement of Compensation in Personal Service Corporations

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Regular corporations, which are taxed as separate legal entities and more commonly known as “C corporations” (since they are taxed under Subchapter C of the Internal Revenue Code), were once a popular entity structure for small and medium-sized privately-held enterprises. Though no longer widely-used as a tax vehicle, in some instances, a C corporation tax […]

Regulatory Freeze Imposed by Trump Administration

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On behalf of President Trump, new White House Chief of Staff, Reince Priebus, issued a memorandum describing a “regulatory freeze” that places a moratorium on all federal rule making, except in limited situations, until the new administration can review all the regulations in process.   While the breadth and reach of this “freeze” on the issuance […]

Taxpayer Advocate Report Released

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The Taxpayer Advocate Service (TAS) is an independent organization within the Internal Revenue Service (IRS). Led by the National Taxpayer Advocate, Ms. Nina Olson, TAS serves as the voice of the taxpayer at the  highest levels of the Internal Revenue Service. Each year in January, the National Taxpayer Advocate renders a report directly to the […]

FBAR Automatic Extension

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As part of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, the new annual due date for filing the Reports of Foreign Bank and Financial Accounts (FBAR) is April 15, to coincide with the Federal income tax filing season. However, for calendar year 2016, the filing date is April 18, 2017, […]

2017 Payroll & Other Tax Developments

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As you begin the new year, we would like to remind you of a number of important business changes that have been implemented by Congress, the Internal Revenue Service, and other authorities for calendar year 2017. We hope that you will find this information helpful. Please view our 1-17 Payroll Tax Alert for complete information.