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USCIS NEWS

Deferred Action Process for Young People Who Are Low Enforcement Priorities -  U.S. Citizenship and Immigration Services (USCIS) alerts eligible individuals NOT to submit a deferred action request under the Deferred Action Process for Young People memorandum issued by Secretary Napolitano on June 15. If you submit now, your application will be rejected. The Secretary’s directive gives USCIS 60 days to create a process to accept these requests and we are unable to accept requests at this time.  Please continue to check our website for updates.

USCIS Reaches Fiscal Year 2013 H-1B Cap - U.S. Citizenship and Immigration Services (USCIS) announced today that it has received a sufficient number of H-1B petitions to reach the statutory cap of 65,000 for fiscal year (FY) 2013. Yesterday, June 11, 2012, was the final receipt date for new H-1B specialty occupation petitions requesting an employment start date in FY 2013.

USCIS to Centralize Filing and Adjudication for Certain Waivers of Inadmissibility in the United States - Beginning June 4, 2012, individuals abroad who have applied for certain visas and have been found ineligible by a U.S. Consular Officer, will be able to mail requests to waive certain grounds of inadmissibility directly to a U.S. Citizenship and Immigration Services (USCIS) Lockbox facility. This change affects where individuals abroad, who have been found inadmissible for an immigrant visa or a nonimmigrant K or V visa, must send their waiver applications.

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IRS to Scale Back Oversight of Madoff-Like Trustees

The Internal Revenue Service has improved its oversight of nonbank trustees that act as custodians for tax-exempt retirement and savings accounts, and should now reevaluate the resources it expends on the program, according to a new report

Tax Preparers Charged with Hiding Funds in Israeli Banks

A trio of tax preparers have been charged with helping their clients evade taxes by hiding millions of dollars in secret accounts at two Israeli banks.

IRS Tax Return Preparer Office Arrives on LinkedIn

The Internal Revenue Service’s Return Preparer Office is extending its social media presence to LinkedIn.


Tax Preparer Pleads Guilty in Identity Theft Scheme

A Los Angeles-area tax preparer has pleaded guilty to tax fraud charges after he was accused of using his clients’ identities to file for large tax refunds that went to his address

Employers Need to Act Soon to Get Expanded Tax Credit for Hiring Vets

The Internal Revenue Service warned employers that they only have until June 19 to qualify for an expanded tax credit of up to $9,600 for hiring veterans.

IRS Advises Safeguarding Tax Records against Hurricanes

With the hurricane season starting early this year, the Internal Revenue Service is encouraging individuals and businesses to follow a few steps to protect themselves against natural disasters

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IRS Commissioner Shulman Warns Congressional Inaction Risks 2013 Tax ‘Disaster’

The commissioner of the Internal Revenue Service warned on Thursday of "a real disaster" for taxpayers next year should Congress miss a December 31 deadline to decide on billions in major tax provisions.

Odds Favor IRS in Supreme Court Tax Cases

The odds are stacked against corporations whose disputes with the Internal Revenue Service go all the way to the Supreme Court, a new study found.

Study Finds Charities’ Tax Returns Expose Social Security Numbers

A new study has found that the Form 990 tax returns filed by tax-exempt organizations frequently expose the Social Security numbers of tax preparers, donors, employees, scholarship recipients and others to the public.

IRS Analyzes Tax Preparer Data Looking for Fraud

Internal Revenue Service Commissioner Doug Shulman described in a speech Thursday how the agency is using information from its tax preparer regulation initiative to identify practitioners who are showing patterns of tax fraud.

Can’t File By April 17? Use Free File to Get a Six-Month Extension; E-Pay and Payment Agreement Options Available to People Who Owe Tax
The IRS reminded taxpayers that quick and easy solutions are available if they can’t file their returns or pay their taxes on time, and they can even request relief online.


PTIN Requirements for Tax Return Preparers
Regulations require all paid tax return preparers to obtain a PTIN. Preparers must renew their PTIN each year by December 31. Some preparers will also soon need to pass a competency test and take continuing education courses.

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Mega Millions Winners Will Owe Jackpot of Taxes

The three winners of the record-breaking $656 million Mega Millions lottery jackpot will owe at least 25 percent of their winnings to the Internal Revenue Service.

Obama Says Congress Will Vote on 'Buffett Rule' Millionaire Tax

President Obama said in his weekly address Saturday that Congress will be voting in the weeks ahead on the Buffett Rule, which would raise taxes on the wealthy.

IRS Issues Regulations on Public Inspections of Material on Organizations Denied Tax Exemptions

The Internal Revenue Service has recently published its final regulations on public inspection of material relating to tax-exempt organizations, which affects organizations that were exempt but are no longer exempt from federal income tax, and organizations that were denied tax-exempt status.

U.S. Corporate Tax Rate Becomes Highest on April 1

The U.S. is set to have the highest combined federal and state statutory corporate tax rate in the industrialized world on Sunday, April 1, once Japan drops its top rate to 38.1 percent.

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IRS Offers Renewal Extension for Enrolled Agents

The Internal Revenue Service said it is giving an extension to enrolled agents whose renewal applications for their enrollments have been postponed due to a processing delay.

House Passes Paul Ryan Budget, Consolidating Tax Brackets

The House has passed a Republican-sponsored budget alternative to President Obama’s fiscal 2013 budget, mostly based on the plan put forward by House Budget Committee Chairman Paul Ryan, R-Wisc., for creating only two tax brackets of just 10 and 25 percent.

New York CPAs Want Changes in Revenue Recognition Proposals

The New York State Society of CPAs has told the Financial Accounting Standards Board and the International Accounting Standards Board that they need to make changes in their latest set of proposals for changing revenue recognition standards.

Congress Introduces Bill to Provide Tax Relief for Mortgage Foreclosure Victims

A trio of House Democrats have introduced a bill that would provide tax relief to homeowners who were wrongly foreclosed upon and receive money from the recent nationwide mortgage foreclosure settlement.

BofA Introduces Small Business 401(k) Plan

Bank of America has introduced a 401(k) retirement plan for small businesses through its Merrill Edge unit.

House Panel Passes GOP Small Business Tax Cut Bill

The House Ways and Means Committee has passed a Republican-sponsored bill aimed at reducing taxes for small businesses that would also benefit larger companies.

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IRS Increases Audits of Wealthy

The Internal Revenue Service has been increasing its audits and examinations of high-income individuals in the past year, examining nearly 30 percent of the tax returns of those earning $10 million and more, nearly twice the rate of a year earlier.

H&R Block Manager Arrested for Identity Theft of Tax Clients

An H&R Block manager in Southern California has been arrested for using the identities of his former tax preparation clients in an identity theft scheme.

IRS Says Tea Party Groups Aren’t Targets

Internal Revenue Service Commissioner Douglas Shulman denied that the agency is targeting Tea Party groups and giving them extra scrutiny before granting them tax-exempt status.

IRS Volunteer Program Needs Database Fix

The Internal Revenue Service’s new database for keeping track of the performance of organizations that provide free tax preparation services to low-income and elderly taxpayers leaves something to be desired, according to a new government report.

IRS Makes Partnership Interest Reporting Optional

The Internal Revenue Service said that reporting partnership interests using Form 1065/Schedule K-1 would be optional for tax year 2011.

Bloomberg BNA Publishes Tax Essentials eBook

Bloomberg BNA has published the latest edition of its “Tax Essentials: Individuals” reference as both a printed book and an e-book that can be downloaded from Apple’s iBooks store.

IRS Reorganizes Corporate Tax Agreement Programs

The Internal Revenue Service has made organizational and administrative changes in the programs governing agreements between large businesses and the IRS over how tax transactions can be reported, particularly for multinational corporations using transfer pricing.

Congress Passes JOBS Act for Small Business

Congress approved legislation Tuesday intended to spur investment in small businesses and help them access the capital markets, despite criticisms that it would weaken audit safeguards and investor protections.

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Recent metropolitan commuter transportation mobility tax changes Recent law changes will reduce or eliminate the MCTMT for many small businesses and sole proprietors. See if your business qualifies.

New York State tax preparer registration Register online for the 2012 calendar year.

Do your clients owe back taxes? Our Voluntary Disclosure program allows eligible taxpayers to avoid penalties and possible criminal charges if they satisfy their tax obligations.

Have each of your clients signed E-ZRep Form TR-2000? A signed E-ZRep TR-2000 allows you to access and receive confidential information about a client and conduct transactions on their behalf through your Tax Professional Online Services account.

New reporting requirements Learn about requirements for entities making payments to merchants as reimbursement for credit and debit card transactions.

Clothing and footwear sales tax exemption increased to prior level Starting April 1, certain clothing and footwear is exempt from New York sales tax, and in certain cities and counties too.Read more.

Lowest income tax rates in 58 years New personal income tax rates in New York State began January 1, 2012.

Consumer Bill of Rights regarding tax preparers Most tax preparers act within the law and treat their clients fairly, but there are some that don’t. The Consumer Bill of Rights Regarding Tax Preparers describes your rights and tells you how to protect yourself from unfair practices.

File your income tax return by April 17

• Learn about the income tax e-file requirement.
• Use Free File or e-File like most taxpayers.
• Get free help preparing your income tax return at a VITA location.
• Get your refund safely and quickly with a debit card or direct deposit.
• Understand how the Marriage Equality Act applies to taxes administered by this department.
• Request an extension.
• View your 1099-G information.

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IRS Didn’t Fully Comply with Improper Payments Law

The Internal Revenue Service is not fully compliant with a federal law requiring the agency to eliminate and report improper payments made to taxpayers, according to a new government report.

IRS May Share Tax Information with Police to Fight Fraud

A surge in tax refund fraud and identity theft has prompted the Internal Revenue Service to consider sharing more tax return information with police, a senior official told a congressional hearing on Tuesday.

IRS Commissioner Shulman Addresses Tax Delays

Internal Revenue Service Commissioner Doug Shulman warned Thursday of a delayed tax season next year unless Congress resolves questions over the alternative minimum tax patch and other tax extender items, and talked about the tax refund delays this tax season.

Rangel Introduces Mortgage Tax Relief Extender Bill

Rep. Charles Rangel, D-N.Y., has introduced a bill aimed at extending tax relief to Americans in danger of losing their homes.

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Former IRS Agent Sentenced for Investment Scam

A former Internal Revenue Service revenue agent has been sentenced to nearly three years in prison for his involvement with a scam that bilked investors out of more than $8 million by persuading them to buy unregistered securities in various Internet companies.

TaxMasters Goes Bankrupt

Tax resolution chain TaxMasters has filed for Chapter 11 bankruptcy protection.

House GOP Proposes Tax Bracket Consolidation

House Budget Committee chairman Paul Ryan, R-Wisc., has introduced a Republican-backed alternative to the Obama administration’s fiscal 2013 budget, including a proposal to consolidating the current six individual income tax brackets into just two brackets of 10 and 25 percent.

IRS Forms 'SWAT Team' for Tax Dodge Crackdown

The Internal Revenue Service is staffing up with high-powered talent to crack down on companies shifting profits from country to country to lower their tax bills, a hot strategy the agency has targeted before with only limited success.

Retirement Optimism on the Rise

More Americans are feeling optimistic about their retirement savings, according to a new survey.

IRS Proposes Requiring Periodic Updates of Employer Information

The Internal Revenue Service has proposed regulations that would require taxpayers with Employer Identification Numbers to periodically provide the IRS with up-to-date information.

Mets Owners Settle with Madoff Trustee

An investment group including New York Mets chairman and CEO Fred Wilpon and Mets president Saul Katz have agreed to pay $162 million over five years to settle with the trustee overseeing the liquidation of Bernard Madoff’s investment firm.

Tax Preparer Convicted of Promoting $763M Tax Refund Scheme

A Southern California tax preparer was convicted in a Seattle courtroom for helping nearly 1,000 people claim more than $763 million in fraudulent tax refunds by preparing falsified tax returns on their behalf.

IRS Needs to Fix Security Controls

Weaknesses in the Internal Revenue Service’s financial and tax-processing systems continue to jeopardize the confidentiality, integrity and availability of sensitive taxpayer information, according to a new report by the Government Accountability Office.

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IRS Software Glitch Delays Some Tax Refunds

The Internal Revenue Service's new software system for handling electronic tax returns has experienced problems during the tax filing season, angering some taxpayers whose refunds have been delayed.

Controls Too Weak over IRS Undercover Agents

The Internal Revenue Service’s Criminal Investigation division needs to strengthen its controls over the undercover operations used to detect and probe criminal tax activities, according to a new government report.

IRS Opens Registration for Tax Forums

The Internal Revenue Service’s National Tax Forums are now open for registration.

IRS Updates Status of Tax Refund Delays

The Internal Revenue Service is providing an update on the status of the tax refund delays that plagued the agency this season.

IRS Warns of New Emerging Tax Scam

The Internal Revenue Service is warning senior citizens, working families, church members and other potential victims to beware of an emerging tax scam that tempts them into filing fraudulent tax returns claiming bogus refunds.

Changes Proposed for Engagement Team Ethics

The International Ethics Standards Board for Accountants has released for public exposure proposed changes to the definition of “engagement team” in the IESBA Code of Ethics for Professional Accountants.

IRS Probe of Tax-Exempt Political Groups Questioned

The Internal Revenue Service is facing renewed pressure over its reluctance to grant tax-exempt status to political fundraising and advocacy organizations, particularly Tea Party-affiliated groups.

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Sweep Nets Hundreds of NYC Tax Preparers Violating Laws

The New York City Department of Consumer Affairs conducted a two-week-long enforcement sweep of tax preparers across the city and issued violations to one out of every three preparers it inspected, mainly for violating laws governing refund anticipation loans and disclosure of their true qualifications and fees.

IRS Caught $1.6B in Erroneous Homebuyer Tax Credits

The Internal Revenue Service disallowed nearly $1.6 billion in erroneous First-Time Homebuyer Tax Credits, but could have flagged even more, according to a new government report.

Congress Cooperates on Small Business Jobs Bills

In a rare sign of bipartisanship, Congressional Republicans and Democrats are moving forward with a group of widely supported jobs bills, aimed at improving capital formation for small businesses and spurring the growth of startups.

Small Biz Owners Not Prepared for Retirement

Many small business owners are unprepared for retirement, with a third of the women and a quarter of the men in a new survey having no estimate of how much they will need when they retire.

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IRS Experiences Further Tax Refund Delay Problems

The Internal Revenue Service has been having more problems with delayed tax refunds.

Expats Press Capitol Hill for Tax Reforms

A nonprofit group representing the interests of U.S. citizens living overseas met with congressional staffers to push for a residence-based taxation system.

Most Taxpayers Plan to Save, Not Spend, Tax Refunds

Just over 50 percent of Americans anticipate they will receive a refund on either their federal or state income tax return this year, according to a new survey, and of those 63 percent said they plan to save or invest at least part of the money.

IRS Makes Allowances for Taxpayers in ‘Arab Spring’ Countries

The Internal Revenue Service is giving extra time to taxpayers who lived in some of the countries caught up in the “Arab Spring” upheavals in the Middle East.

IRS Makes Allowances for Taxpayers in ‘Arab Spring’ Countries

The Internal Revenue Service is giving extra time to taxpayers who lived in some of the countries caught up in the “Arab Spring” upheavals in the Middle East.

IRS Stops Tax Preparers Accused of Stealing Client Refunds

The Internal Revenue Service’s Criminal Investigation division has cracked down on a pair of Southern California tax preparers accused of stealing their clients’ tax refunds.

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Taxpayers Concerned about Security of Tax Filing

A majority of taxpayers are concerned about the security and privacy of their personal and financial information when filing their state and federal tax returns online, according to a new survey.

IRS Proposes Regulations on Taxable Medical Devices

The Internal Revenue Service has issued proposed regulations to provide guidance on the excise taxes imposed on the sale of medical devices under the health care reform law.

IRS Proposes Regulations on Taxable Medical Devices

The Internal Revenue Service has issued proposed regulations to provide guidance on the excise taxes imposed on the sale of medical devices under the health care reform law.

Jobless Rate Falls to 8.3 Percent

The economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low of 8.3 percent, providing some measure of comfort for President Barack Obama who faces re-election in November.

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IRS Extends Tax-Filing Deadline to April 17
The Internal Revenue Service opened the 2012 tax season on Wednesday by extending the tax-filing deadline until April 17.


Taxpayers Warned of Changes for Tax Season
While 2011 ended without many last-minute tax law changes aside from the payroll tax cut extension, taxpayers should still be aware of a number of changes.


Monthly Social Security Benefits Increase 3.6%
Retirees will be receiving a 3.6 percent increase in their monthly Social Security and Supplementary Security Income benefits in 2012.


Treasury Stops Selling Paper Savings Bonds
The Treasury Department has stopped selling paper U.S. savings bonds at banks, ending a tradition stretching back to 1935.


IRS Will Accept PTIN Renewals after Year-End Expiration
While all Preparer Tax Identification Numbers from last tax season expired on December 31, the Internal Revenue Service said its PTIN system would continue to accept renewals after the deadline.

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Payroll Tax Cut Extended 
Lowered Social Security tax withholding extended through Feb. 29.

2012 Mileage Rates
Most rates remain the same as they were in July.

2012 Inflation Adjustments 
Many tax benefits increase in 2012 due to inflation adjustments.

Securities America Announces Promotions

Broker-dealer Securities America announced its officer promotions for 2012.

TIGTA Recommends Tighter E-Filing Controls

Better controls are needed to ensure tax preparers filing electronically are complying with new preparer regulations, according to a report released Thursday by the Treasury Inspector General for Tax Administration.

IRS Drafts New Asset Repair Guidelines

The IRS has issued new temporary taxpayer guidelines in the Federal Register to help clarify the difference between a a repair and a capital improvement.