Richard J. Morgante and Pamela G. Watson have been named to the top two posts in the Wage and Investment Division, the Internal Revenue Service unit that serves most individual taxpayers. Morgante, currently the division's deputy commissioner, will move up to W&I commissioner, and Watson, now the division's compliance director,will succeed him as W&I's second highest executive. Both appointments will take effect in early July. Morgante succeeds Henry Lamar, who is retiring after 34 years with the IRS, the last two as W&I commissioner."Rich and Pam make a strong team, and their leadership and experience will help us effectively serve taxpayers and enforce the law," said IRS Commissioner Mark W. Everson. Based in Atlanta, W&I has processing and customer service responsibility for virtually all taxpayers, processing approximately 175 million paper and electronic returns for individuals and businesses last year, answering 67.3 million automated and assistor calls, and serving over 7 million customers face-to-face.
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CPE compliance solutions provider LCvista bought CPA license management solutions provider CPA QualityPro, combining CPE, learning, licensure and mobility.
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The Internal Revenue Service and the Treasury Department offered guidance on rollovers between retirement plans and individual retirement accounts.
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Despite high confidence from leaders in AI, 26% of executives said internal audits have detected AI errors that reached external audiences or the board.
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The Treasury Department's Financial Crimes Enforcement Network issued a final rule permanently removing the requirement for U.S. companies and people to report beneficial ownership information.
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The American Institute of CPAs asked the Treasury and the IRS to revise three of their recent notices on the corporate alternative minimum tax.
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The proposed regulations clarify nondiscrimination requirements for employers offering Trump account contribution programs and dependent care assistance.
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