The Internal Revenue Service has redesigned Form 8857, Request for Innocent Spouse Relief, to help reduce follow up questions and taxpayer burden. The form will ask more questions initially, but collecting critical information early in the process will allow faster processing of the request. The IRS says that the new design will eliminate an estimated 30,000 follow-up letters annually, resulting in a reduced burden and quicker answer for taxpayers and less cost for the government. When a taxpayer files a joint return, both spouses are jointly and individually responsible for the tax. If one taxpayer believes that only his or her spouse or former spouse should be responsible for the tax, the taxpayer can request innocent spouse relief. The redesigned form will be easier to understand and to complete and will help educate taxpayers about the process. Previously, the questionnaire was separate from the form.
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The Internal Revenue Service's criminal investigators have been on the lookout for tax evasion by businesses that don't pay employment taxes.
April 19 -
The Internal Revenue Service previewed a draft form for crypto brokers for reporting on the proceeds of digital asset transactions to their customers.
April 19 -
Seventeen percent of comment forms in 2021 and 2022 contained auditor evaluation deficiencies, according to the PCAOB.
April 19 -
KPMG enters $1.1 million partnership with Women's Health Access Matters; UHY releases nonprofit trends report; and more news from across the profession.
April 19 -
Plus, LeaseCrunch announces webinar on lease changes and remeasurements; and other accounting technology updates.
April 19 -
While still a minority in the accounting world, remote partners offer unique benefits amid talent shortages.
April 19