Martha Waggoner
JournalofAccountancy
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Past articles by Martha:
Senate approves Danny Werfel as IRS commissioner
The Senate voted 54–42 on Thursday to approve Werfel, a former acting IRS commissioner who has served under both Democratic and Republican administrations. → Read More
Final regs. expand company e-filing requirements
Final regulations require certain companies to e-file returns for tax years ending on or after Dec. 31, 2023, and lower the e-filing requirement threshold to 10 returns. → Read More
Some corporate taxpayers eligible for IRS CAP pilot on prefiling feedback
The IRS announced on Monday a new pilot phase Compliance Assurance Process (CAP) program called Bridge Plus to provide prefiling return review to some large corporate taxpayers in the Bridge phase. → Read More
FinCEN provides time estimates for compiling beneficial ownership details
FinCEN estimates that most companies will have a simple structure that will require 90 minutes per response, but complex entry filings will require much more time. → Read More
Automatic extension provided for furnishing health coverage statements
Final regulations provide an automatic extension of time for providers of minimum essential coverage to furnish statements to individuals regarding their coverage. → Read More
Approval program expands to churches, others with 403(b) retirement plans
The IRS and the Treasury Department will allow churches, public schools, and charities with this type of retirement plan to use same individually designed retirement plan determination letter program that other plans use. → Read More
IRS seeks comments on several green energy tax credits
The IRS asks for comments by Dec. 3 on tax credits included in the Inflation Reduction Act, including the commercial clean vehicles provision. → Read More
National taxpayer advocate has concerns about $400,000 audit promise
National Taxpayer Advocate Erin Collins expressed concern for voluntary compliance amid Treasury’s promise that increased IRS funding will not be used to audit people earning under $400,000. She spoke during a session at the annual AICPA & CIMA National Tax Conference. → Read More
Growing tax gap shows need for better service, compliance, IRS says
The difference between taxes owed and taxes paid was $496 billion annually for tax years 2014 through 2016, and that figure is likely to grow, the IRS said. → Read More
New process provided for anonymous reporting of ERC mills
In a move the AICPA supports, the IRS is providing a new way to make anonymous reports about third-party vendors promoting improper claims for the employee retention credit. → Read More
IRS initiates pilot program to thwart line-jumping on PPS calls
The IRS has begun a pilot program designed to thwart services that let callers jump ahead in the IRS Practitioner Priority Service phone queue. → Read More
Retirement account inflation adjustments issued for 2023
The IRS issued the retirement account inflation adjustments for 2023, including the maximum contribution amounts for 401(k) plans and IRAs. → Read More
IRS announces annual inflation adjustments for tax year 2023
Changes include increases in the standard deduction for many taxpayers, new tax brackets, and a higher maximum earned income tax credit amount. → Read More
AICPA seeks guidance on corporate alternative minimum tax
The organization’s letter to the IRS and Treasury makes recommendations in five areas to help companies deal with the new tax. → Read More