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Tag Archive for IRS Commissioner

IRSAC Releases Its 2015 Annual Report

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Internal Revenue Service Advisory Council (IRSAC) held its annual public meeting this week and released its annual report for 2015 to the IRS Commissioner. The report includes recommendations on a wide range of tax administration issues.

The IRSAC is an advisory group to the entire agency. The IRSAC’s primary purpose is to provide an organized public forum for the Commissioner, senior IRS executives and representatives of the public to discuss relevant tax administration issues.

“Members of IRSAC volunteer their time and energy to provide us with valuable feedback and suggestions regarding the most important issues affecting all types of taxpayers,” said IRS Commissioner John Koskinen. Read more

Staff Reductions & Insufficient Funding Will Dramatically Impact IRS in 2015 And Beyond

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Last Tuesday, IRS Commissioner John Koskinen addressed the New York State bar Association Tax Section in New York. His comments provide keen insight into the going-on’s at the IRS. Mr. Koskinen’s most important announcement centered on the agency’s anticipated reduction in the number of rulemaking projects as a result of budgetary constraints.

Although releasing guidance is one of the agency’s core functions, there are simply not enough attorneys in the Office of Chief Counsel to shoulder the burden. Nor are there any plans on the horizon to hire more workers, in light of the agency-wide hiring freeze.

“Our office of chief counsel continues to make every effort to issue guidance in a timely Read more

OVDP Program Open Indefinitely For Taxpayers Hiding Money or Income Offshore!

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The Internal Revenue Service today January 28, 2015, said in its news release (IR-2015-09), that avoiding taxes by hiding money or assets in unreported offshore accounts remains on its annual list of tax scams known as the “Dirty Dozen” for the 2015 filing season.

“The recent string of successful enforcement actions against offshore tax cheats and the financial organizations that help them shows that it’s a bad bet to hide money and income offshore,” said IRS Commissioner John Koskinen.

“Taxpayers are best served by coming in voluntarily and getting their taxes and filing requirements in order.”

Since the first Offshore Voluntary Disclosure Program (OVDP) opened in 2009: Read more

OVDP — IRS Commissioner Offers Hope For The Minnow

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On June 3, 2014 the new IRS Commissioner, John A. Koskinen indicated there may be hope for the numerous US persons who “non-wilfully” did not properly report their offshore assets and financial accounts. The relevant text of his remarks, is reproduced below. The full report can be accessed here. Maybe there is hope for the sea of minnows! Let’s stay tuned. I will be curious to know whether the contemplated “modifications” to the OVDP will address recompense for those taxpayers who have completed OVDP and paid the penalties now viewed as inappropriate.

“Now, while the 2012 OVDP and its predecessors have operated successfully, we are currently considering making further program modifications to accomplish even more. We are considering whether our voluntary programs have been too focused on those willfully Read more

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