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IRS E-Services Accounts, PTIN Renewal Period, Michigan Tax Tribunal and more

by MICPA | Oct 31, 2017   ()

Update on IRS e-Services Accounts
Because the IRS is still reviewing its contract options for an identity-proofing vendor, the move of e-Services to Secure Access authentication is delayed. This means tax professionals are unable to take certain actions, like requesting an e-file identification number, or viewing or updating an application. The transition was originally planned for this month. The IRS advises practitioners to continue preparing for the launch of Secure Access migration. The e-Services issues do not affect preparer tax identification numbers (PTINs). READ MORE 

2018 PTIN Renewal Period Underway for Tax Professionals
The IRS reminds tax return preparers that they must renew their PTINs for 2018. Preparers can get started at www.irs.gov/ptin. All current PTINs will expire on Dec. 31. READ MORE 

Michigan Tax Tribunal Moving Forward With Paperless
The Michigan Tax Tribunals current newsletter reports that beginning with the 2017 tax year, all Entire Tribunal cases are saved electronically. Beginning in 2018, all Small Claims will be electronically saved as the Tribunal continues its move to paperless. READ MORE 

MTO Maintenance Scheduled for this Weekend
Michigan Treasury Online will be unavailable on Sunday, Nov. 5 from 1 a.m. to 4:30 a.m. for planned maintenance.  READ MORE 

RAB Clarifies Individual Retirement Arrangements
Revenue Administrative Bulleting 2017-21, issued earlier this month, focuses on the common transactions and issues related to IRAs as a subtractable “retirement or pension benefit” in Michigan. READ MORE 

Upcoming Michigan Treasury Outreach Focuses on Vehicle Dealers
Michigan Department of Treasury outreach seminars will focus on sales and use taxes for vehicle dealers taxability concerns (i.e. sales price, vehicle trade-in credit, exemptions and core charges) and rescinded deals vs. buybacks. Taxpayers and service providers are invited to attend these free outreach events scheduled for Nov. 17 (Battle Creek) and Nov. 29 (Saginaw area). READ MORE 

Blockchain – Today and Tomorrow
You have likely been hearing about “blockchain” and its potential impact on organizations of all sizes and in all lines of business. Yet, blockchain remains a mystery to many professionals, not only in terms of what it is, but also how it will potentially be used to drive the results many are expecting. Thomas Stephens, CPA, CITP, CGMA of K2 Enterprises prepared a primer on blockchain. READ MORE

Information Reporting Program Advisory Committee Issues Annual Report
The Information Reporting Program Advisory Committee issued its annual report for 2017, including numerous recommendations to the IRS on new and continuing issues in tax administration. The report includes a discussion on how to improve some processes, such as for penalties, abatement requests and levies as well as business master file entity addresses.

The report also recommended enhancements to Form W-9 and the truncation of Social Security numbers on Form W2, IRC § 6050S and Form 1098-T reporting. READ MORE

Source: MICPA
Source: MICPA

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