June 19, 2018

IRS

The IRS Has the Mother of All Nightmare Legacy Systems

Legacy systems are awful — so awful it’s the first thing I wrote about on Going Concern. To refresh your memory, legacy systems are obsolete software/hardware with so much technological baggage that they make you want to run away screaming, but you can’t for one reason or another. The most significant reason, unfortunately, is that […]

IRS Scammers Coming Right at YOU, Tax Professionals

We've talked before about how unlikely it would be for an accountant to fall for the ol' "This is the IRS and you're about to be arrested unless you pay your overdue taxes" phone trick, but it seems that some enterprising up-and-comer at IRS Scams, Inc. realized that a few tax professionals would download a […]

Some IRS Scammers Trying the Good Cop Routine Now

Figuring they can catch more flies with honey than with vinegar, a few IRS crank yankers have switched up their MO: Aggressive and threatening phone calls by criminals impersonating IRS agents remain a major threat to taxpayers, but now the IRS is receiving new reports of scammers calling under the guise of verifying tax return […]

IRS Scammers Making Sure We Get the Point

As if the phone calls weren't enough, these clowns seem to be entering the "operation blitzspam" stage of their plan: The IRS said it has seen an increase in reported phishing and malware schemes, including 1,026 incidents reported in January, up from 254 from a year earlier. The trend continued in February, nearly doubling the […]

Would an Accountant Ever Fall for a Phony IRS Call?

A couple of years ago, Sam Antar shared a recording of his conversation with a fake IRS agent with us. The poor dope on the other end of the line didn't know what hit him. What's been quite amazing is that the calls from fake IRS agents seems to be getting worse since the agency […]

IRS Having One of Those Days

Richard Rubin reports that a "hardware failure" at the IRS has affected several systems and that Ted Cruz's favorite agency is "temporarily unable to process electronically filed tax returns." At least some of the older tax partners out there are enjoying this moment. [WSJ]

Opening Day of Tax Season Less Than a Month Away

Yesterday the IRS released some important dates for the upcoming tax season including the official start date: January 19, 2016. Also worth noting is that for 2016, the most overrated tax deadline of the year is April 18th because the District of Columbia will celebrate Emancipation Day on April 15th. This means auditors will have […]

Coca-Cola Can’t Beat the Feeling That Its Taxes Are Just Fine

Coca-Cola Co. is learning that the IRS side of life includes a challenge to its transfer pricing method: Coca-Cola Co. said it has been notified by the Internal Revenue Service that it owes $3.3 billion in federal income taxes, plus interest, after an audit found the company’s reported income from 2007 to 2009 should have […]

IRS Was Just Kidding When It Said Cyber Criminals Tried to Access Tax Return Information for 225,000 Households

It was quite a few more than that, actually: The IRS reported in May that cyber crooks used stolen Social Security numbers and other data acquired elsewhere to try to gain unauthorized access to prior-year tax return information for about 225,000 U.S. households. That included about 114,000 successful attempts and 111,000 unsuccessful ones. On Monday, […]

IRS Phone Scam Mastermind Given 175 Months to Think About His Life Choices

If you or someone you know have been thinking about getting into the IRS Crank Yanker business, you might want to be aware of the consequences should the authorities come calling: Sahil Patel was sentenced to 175 months in prison and $1 million in forfeiture for his role in organizing the U.S. side of a […]