IRS WATCH

A turn for the worse in IRS treatment of the R&D credit

By Julio Gonzalez       4 min read

The IRS needs to clarify that service firms qualify for the credits, writes Julio Gonzalez. Read story →

Variety is the spice of the IRS’s latest Dirty Dozen

By Jeff Stimpson      

The service has released its annual list of the 12 worst tax scams. Read story →

IRS switched strategies for pursuing wealthy, but came up short

By Michael Cohn       5 min read

The Internal Revenue Service ended a strategy for examining high-income taxpayers in 2017 and switched to another strategy that brought in far less tax revenue in the next few years. Read story →

Hundreds of government entities wrongly claimed tax credits

By Michael Cohn       2 min read

Over 500 government entities improperly applied for advance payments of employer tax credits last year during the COVID-19 pandemic and needed to repay them, according to a new report. Read story →

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IRS gives tax-exempt status to Christian political group after backlash

By Michael Cohn       4 min read

The Internal Revenue Service agreed to grant tax-exempt status to Christians Engaged, a nonprofit that urges Christians to pray for elected officials and vote, after coming under pressure from conservatives. Read story →

IRS plans weekend events to help families with Child Tax Credits

By Michael Cohn       3 min read

The Internal Revenue Service is planning to host events this weekend in a dozen cities to help people who usually don’t file a tax return register for monthly Advance Child Tax Credit payments. Read story →

IRS offers guidance on troubled pension plans

By Michael Cohn       3 min read

The Internal Revenue Service posted new rules Friday for multiemployer qualified retirement plans that have run into funding problems and need extra financial help from the Pension Benefit Guaranty Corporation. Read story →

For Ballmer, joining the $100B club comes with tax scrutiny

By Scott Carpenter       3 min read

The former Microsoft CEO was cited in a ProPublica story that showed how billionaires use ownership of sports teams to lower their tax obligation. Read story →

KPMG expands ESG services

By Michael Cohn       6 min read

KPMG has been increasing its efforts to provide environmental, social and governance services to clients through a new initiative called KPMG Impact. Read story →

LGBTQIA employees leaving accounting profession

By Michael Cohn       9 min read

Nearly one out of five accountants who identified as LGBTQIA left the accounting profession because of a lack of diversity, equitable treatment or inclusion, according to a recent study. Read story →

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