by Patricia Parrilla Tax Services | Nov 26, 2020 | Tax Tips and News
The Internal Revenue Service and the Treasury Department have issued their final regulations on section 1031 like-kind exchanges. The regulations clarify the definition of real property under section 1031, while providing a rule governing the receipt of personal...
by Patricia Parrilla Tax Services | Nov 25, 2020 | Tax Tips and News
The Internal Revenue Service is pairing up with a Virginia research firm in an effort to improve the agency’s procurement operations. Data and Analytic Solutions of Fairfax, Va., will team up with the IRS and a group of academic researchers with a shared goal of using...
by Patricia Parrilla Tax Services | Nov 24, 2020 | Tax Tips and News
The Internal Revenue Service Advisory Council, also known as IRSAC, has come out with its annual report for 2020. The 195-page report includes recommendations to the IRS on new and continuing issues in tax administration. The 34-member panel is a federal advisory...
by Patricia Parrilla Tax Services | Nov 21, 2020 | Tax Tips and News
IRS says National Tax Security Awareness Week tips can help you avoid identity theft. Tax professionals across the country are preparing for next filing season by training seasonal staff, reviewing software updates, and earning CPE. While those annual rituals are...
by Patricia Parrilla Tax Services | Nov 19, 2020 | Tax Tips and News
Fiscal Year 2020 was a very busy—and productive—year for the IRS’ Criminal Investigations unit. The just-released annual report for CI Division touts the unit’s identification of more than $10 billion in tax fraud and other financial crimes, despite the limitations of...
Patricia Parrilla Tax Services