NSTPInternal Revenue Service (IRS), Tax Professionals, Uncategorized

The IRS issues tax information by email for many different audiences. Here are some of the electronic subscriptions people can request by visiting the e-News Subscriptions page on Guidewire: People who sign up for Guidewire receive email notifications when the IRS issues advance copies of tax guidance, such as regulations, revenue rulings, revenue procedures, announcements, and notices. e-News for Tax Professionals: Provides the latest national news for the tax professional community, as well as links to resources on and local news and events by state. Outreach Corner:  Provides organizations such as businesses and non-profits articles content that they can use in their own communication products and newsletters. Tax Statistics: Supplies information about the most recent tax statistics. Quick Alerts: Provides tax professionals and tax software providers with the latest information about e-file issues and events. IRS Newswire: Provides news releases issued by IRS National Media Relations Office in Washington, DC. Here are some other electronic subscriptions the IRS offers: Alerts from Office of Professional Responsibility e-News for IRS Continuing Education Providers Modernized e-File News for Partnerships e-News for Payroll Professionals e-News for Small Business e-File News for Large Businesses Foreign Accountant Tax Compliance Act News & Information Employee Plans Indian … Read More


NSTPEarned Income Tax Credit, Individual Taxpayers, Internal Revenue Service (IRS), Penalties, Tax Professionals, Tax Professionals, Taxpayer, Uncategorized

A district court has permanently enjoined a pair of return preparers, who prepared thousands of federal income tax returns that falsified business income in order to boost the Earned Income Tax Credits (EITCs; also known as Earned Income Credits or EICs) that their clients could claim, from preparing tax returns for others.


NSTPIndividual Taxpayer Identification Number (ITIN), Internal Revenue Service (IRS), Tax Professionals, Taxpayer

With more than 2 million Individual Taxpayer Identification Numbers (ITINs) set to expire at the end of 2018, the Internal Revenue Service today urged affected taxpayers to submit their renewal applications soon to beat the rush and avoid refund delays next year. In the third year of the renewal program, the IRS has increased staffing to handle the anticipated influx of W-7 applications for renewal. This third wave of expiring ITINs is expected to affect as many as 2.7 million taxpayers. To help taxpayers, the renewal process for 2019 is beginning earlier than last year. “Even though the April tax deadline has passed, the IRS encourages people affected by these ITIN changes to take steps as soon as possible to prepare for next year’s tax returns,” said Acting IRS Commissioner David Kautter. “Acting now to renew ITIN numbers will help taxpayers avoid delays that could affect their tax filing and refunds in 2019. The IRS appreciates the help from partner groups across the nation sharing this information with those with expiring ITIN numbers.” Under the Protecting Americans from Tax Hikes (PATH) Act, ITINs that have not been used on a federal tax return at least once in the last three … Read More


NSTPInternal Revenue Service (IRS), Taxpayer

Friday, June 15, 2018 is the deadline for filing 2017 returns for U.S. citizens and resident aliens whose tax home and abode are outside the U.S. and Puerto Rico, certain military personnel, and partnerships and corporations with certain foreign connections. More specifically, an extension of time for filing income tax returns and for paying any tax shown on the return is automatically granted up to the 15th day of the sixth month following the close of the tax year to: Partnerships which keep their records and books of account outside the U.S. and Puerto Rico and are otherwise required to file returns on the 15th day of the third month following the close of the tax year; (Reg § 1.6081-5T(a)(1)) Domestic corporations which transact their business and keep their records and books of account outside the U.S. or Puerto Rico; (Reg § 1.6081-5(a)(2)) Foreign corporations which maintain an office or place of business in the U.S.; (Reg § 1.6081-5(a)(3)) Domestic corporations whose principal income is from sources within U.S. possessions; (Reg § 1.6081-5(a)(4)) U.S. citizens or residents whose tax homes and abodes, in a “real and substantial sense”, are outside the U.S. and Puerto Rico; (Reg § 1.6081-5(a)(5)) and U.S. citizens … Read More

NSTP’s Director of Education Meets the Commissioner of the Internal Revenue Service (IRS)

NSTPInternal Revenue Service (IRS), NSTP Instructors, Paul La Monaca, CPA, MST, Tax Professionals

On Thursday evening May 24, 2018, NSTP’s Director of Education, Paul La Monaca, CPA, MST, attended an invitation only event at The American University in Washington, D.C. The event featured Acting Commissioner Dave Kautter, who also holds the position of Assistant Secretary of Tax Policy. Mr. Kautter addressed a select group of about 50 individuals invited by Professor Don Williamson, American University’s Director of the Master’s in Taxation Program and Executive Director of the Kogod Tax Policy Center. Commissioner Kautter shared his career experiences in tax, from his days with Ernst & Young, serving on Capital Hill and as the former Managing Director of the Kogod Tax Policy Center and Professor at the School of Business. The Commissioner addressed information on the recent passage of The Tax Cuts and Jobs Act and the work that is being done at the Internal Revenue Service as a result of the Legislation. The discussion was moderated by the current Managing Director of the Kogod Tax Policy Center, Caroline Bruckner who also served on Capital Hill. Others in attendance included Capital Hill Staffers involved with the Senate Finance Committee, Dean of the Kogod School of Business, current and former professors of the Kogod School and Alumni … Read More