IRS & Regulation

Paid Tax Preparers Need a New PTIN by December 31

The IRS has opened 2027 renewals with an $18.75 fee, a 15-minute online process, and a six-week wait for paper applications.

Lawmakers Demand the IRS Release Its Delayed Tax Gap Estimate

Forty-seven Democrats want the agency to publish its overdue measure of taxes owed but not paid on time and explain any methodology changes.

FASB Wants More Warrants to Qualify as Equity

A proposed acceptable-variables test would replace the hard-to-apply fixed-for-fixed assessment for contracts tied to a company's own stock.

SEC Clears a Leaner QC 1000 Rule for Audit Firms

The December 15 deadline stays, but firms lose the external quality-control function, gain role flexibility, and keep records for five years instead of seven.

The IRS Rollover Fix Still Leaves Room for Paper Checks

A four-form process pushes retirement transfers online, but it is optional and advisers want a firm end date for paper.

The IRS Lost 29,000 Employees. Now It Has Seven Problems to Solve

A 30% workforce drop and 20% budget cut are colliding with old technology, identity-theft delays, data risks, and a $696 billion tax gap.

38,000 Tax Preparers Used Bad PTINs on 2 Million Returns

TIGTA found expired IDs, refund-only filing patterns and ghost preparers while the IRS works on a data-driven enforcement plan.

IRS Drops Form 720 and Recordkeeping Burdens for Temporary Dyed-Diesel Use

The relief covers certain taxable uses from October through December, but other fuel-tax and refund records still matter.

Draft Form 1040 Citizenship Question Puts Filing Trust at Risk

The IRS wants a clearer check on refundable credits, but vague wording and data-sharing fears could keep some taxpayers from filing.

The IRS Accepted $977 Million in Questionable Car Loan Deductions

A watchdog found weak controls around the new deduction and an estimated $122 million tax effect.

GAO Finds Gaps in IRS Efforts to Track Ghost Preparers

Fragmented databases and work spread across six offices leave the agency without a clear count of the preparers it has identified or addressed.

Four Texans Charged in Trust Scheme That Allegedly Hid $1.5 Billion

Prosecutors say the promoters sold permanent tax deferral while clients kept control of their money. The alleged tax loss exceeds $200 million.

IRS Grants Temporary Dyed-Diesel Penalty Relief Through Year-End

The federal relief runs from October 1 through December 31. Deferred taxes and state rules still need separate attention.

IRS and DOJ Announce Tax Fraud Actions Involving More Than $490 Million

The nationwide effort covers 76 defendants, with both alleged and proven crimes included in the government's total.

IRS Takes Whistleblower Claims Online and Deepens UK Ties

A digital Form 211 lowers the paperwork barrier. Cross-border tax arrangements are also getting more attention.

Deloitte Faces £6 Million Fine Over Audit Failures

The FRC fined Deloitte over £6 million for failing to apply professional skepticism and evaluate fraud risk factors in Go-Ahead Group audits.

IRS Faces Lawsuit Over Alleged Leak of Special Agent's Private Tax Data

A veteran IRS agent sues the agency for allegedly leaking his private tax records to prosecutors following his whistleblowing on tax shelters.

PCAOB Wins Constitutional Challenge Over Disciplinary Proceedings

A federal court upheld the PCAOB's authority to conduct disciplinary proceedings against auditors, rejecting claims of constitutional violations.

IRS Identity Theft Victims Waited 20 Months For Refunds

A stolen tax identity can turn a refund into a two-year customer service problem.

The IRS Has A $192M Contract Control Problem

Tax Software May Have To Check EFINs Before Returns Move

A stolen EFIN is not just an IRS problem. It is a firm credential problem sitting inside the tax software login.

IRS Data Sharing With ICE Hit A Court Wall

The ruling keeps taxpayer-return privacy rules in place while the lawsuit continues.

Trump Put 18,000 Schools On Tax Watch

A proposed Treasury and IRS rule would turn race-based school policies into a tax-exempt status problem.

The IRS Lost Its Own Laptops

After thousands of employees left, hundreds of IRS laptops and phones were still missing months later.

The IRS Missed Its Own Drug Test Rules

A watchdog found the agency skipped basic testing steps even when suspected drug use was already on the radar.