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InternalRevenueService
Explain This to IRS: Tax Agency Is $32 Billion Short
By Tamara Lytle - AOL News(Jan. 6) -- The Internal Revenue Service suddenly reduced the amount of revenue it reported from delinquent collections by $32 billion, or about 27 percent, providing little information about what happened to the money, according to a report released Wednesday morning. "There is an astonishing lack of transparency as to what is included in these revenue figures and how they are computed," said National Taxpayer Advocate Nina E. Olson as part of her annual report to Congress. "The failure to highlight and explain revisions of such magnitude erodes confidence in IRS's data reporting." The IRS ...
IRS to Regulate Tax Preparers
By Christopher Weber - Politics DailyThe Internal Revenue Service said it will start regulating tax preparation companies for the first time. Tax preparers will have to register with the federal government and company employees will have to pass competency tests and stay up to date on tax laws by taking 15 hours of classes every year, the IRS announced Monday. The rules affect employees of national firms such as H&R Block as well as independent tax preparers. Until now these firms had little or no oversight, the Associated Press reported. Certified public accountants are already subject to professional standards and aren't ...
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