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McDermott Will & Emery

Weekly IRS Roundup November 9 – November 13, 2020

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 9, 2020 – November 13, 2020... November 9, 2020: The IRS released Notice 2020-75...more

Mayer Brown

The Taxpayer First Act and the Impact on Secondary Market Participants

Mayer Brown on

The Taxpayer First Act (the “Act” or “TFA”) imposes new limits on the disclosure of US taxpayer tax information obtained on or after December 28, 2019.  The Act is designed, among other things, to overhaul and modernize...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #167 – IRS Issues Warning About Tax Transcript Scam

The Internal Revenue Service (IRS) has issued a warning to consumers about an email that looks like it is from “IRS Online.” The email is designed to get the recipient to click on an attachment that is labeled “Tax Account...more

Robinson+Cole Data Privacy + Security Insider

Government report critiques the IRS’ handling of 2015 data breach

According to a government report publicly released last week, the IRS failed to adequately respond to a May 2015 cyber-attack on its “Get Transcript” application that potentially compromised at least 621,000 taxpayer...more

Butler Snow LLP

IRS Only Sending Estate Tax Closing Letters on Request

Butler Snow LLP on

Open the estate, marshal the decedent’s assets, file the estate tax return, pay estate taxes and debts, receive the estate tax closing letter from the IRS, and distribute the remaining assets. While overly simplistic, this...more

Williams Mullen

Account Transcript May Serve As Estate Tax Closing Letter

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An estate tax closing letter is meant to evidence that the IRS has accepted the filing of an estate tax return and that the federal tax liabilities are satisfied, allowing the executor of the estate to close out the estate...more

Bryan Cave Leighton Paisner

IRS: Transcript Can Be Alternative to Estate Tax Closing Letter

Back in August, we wrote about how the IRS would no longer automatically issue closing letters for filed Form 706, United States Estate (and Generation-Skipping Transfer) Tax Returns. Instead, the IRS will only issue closing...more

Robinson & Cole LLP

With the IRS breach, it’s clear your data is at risk

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The Internal Revenue Service (IRS) released on Tuesday, May 26, 2015, news of a major data breach, estimated to have affected 100,000 U.S. households’ tax returns. The data was wrongfully obtained from an IRS application...more

Lowndes

IRS Data Breach Results in Thousands of Fraudulent Tax Returns

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On Tuesday, May 26th, 2015, the IRS disclosed that a data breach of its online Get Transcript application occurred when sophisticated hackers attempted to access over 200,000 personal tax accounts. More importantly, however,...more

Nexsen Pruet, PLLC

IRS launches 'Get Transcript' Application - A message from tax attorney Paul Topolka, former District Counsel of the IRS for...

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The Internal Revenue Service has launched a new application which gives taxpayers the ability to directly view, print, and download tax return transcripts and account transcripts. ...more

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