IRS Plans More Efficient Audits of Tax-Exempt Groups
The Internal Revenue Service has released its work plan for the coming year outlining its priorities for examinations and audits of tax-exempt organizations. See article about the IRS Audits of Tax Exempt Groups. Charitable and other nonprofit organization may received a letter or phone call from IRS Exempt Organizations (EO) Examinations saying it had been selected... Read More
Offshore Voluntary Compliance Efforts Top $10 Billion; More Than 100,000 Taxpayers Come Back into Compliance
IR-2016-137, Oct. 21, 2016 WASHINGTON — As international compliance efforts pass several new milestones, the Internal Revenue Service reminds U.S. taxpayers with undisclosed offshore accounts that they should use existing paths to come into full compliance with their federal tax obligations. Updated data shows 55,800 taxpayers have come into the Offshore Voluntary Disclosure Program (OVDP)... Read More