IRS Issues Proposed Regs on CFCs with GILTI Inclusions
Delayed Effective Date and Guidance on Phase-in Period for Dividend Equivalent Regs

TIGTA Report on Third-Party Authorization Forms

The Treasury Inspector General for Tax Administration (TIGTA) recently issued a report titled “Improved Procedures are Needed to Prevent the Fraudulent Use of Third-Party Authorization Forms to Obtain Taxpayer Information.” While tax preparers support measures to combat identity theft, TIGTA’s recommendation for the Power of Attorney (POA) process is that the IRS mail letters to taxpayers to confirm third-party access and only validate a POA upon receipt of a return mail authorization. This could hinder an already sluggish verification system and deny taxpayers the right to due process and counsel during a difficult time. TSCPA’s Federal Tax Policy Committee is considering responding to this concern.

https://www.treasury.gov/tigta/auditreports/2018reports/201840062fr.pdf

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name is required. Email address will not be displayed with the comment.)