National Tax Security Awareness Week; IRS warning, ETAAC; IRS-CI 2024 annual report; and more
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e-News for Tax Professionals December 6, 2024
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Issue Number: 2024-49
Inside This Issue
* National Tax Security Awareness Week: IRS, Security Summit partners warn of potential scams and more [ #First ]
* IRS warns: Beware of charitable contribution scams and other fraudulent schemes [ #Second ]
* ETAAC is accepting membership applications through Jan. 31 [ #Third ]
* IRS-CI releases 2024 annual report; notes agency’s billion-dollar impact, global reach [ #Fourth ]
* Grants announced for the Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program [ #Fifth ]
* Tax pros: New continuing education seminars available on IRS Nationwide Tax Forum Online [ #Sixth ]
* Upcoming webinars for tax professionals [ #Seventh ]
* News from the Justice Department’s Tax Division [ #Eighth ]
* Technical Guidance [ #Ninth ]
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*1. National Tax Security Awareness Week: IRS, Security Summit partners warn of potential scams and more*
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The IRS and the Security Summit partners recently kicked off the 9th annual National Tax Security Awareness Week with information for tax professionals and taxpayers on how to avoid scams and protect sensitive personal information:
* Monday: IRS and Security Summit partners warn individuals to exercise extra caution while shopping during this holiday season [ [link removed] ]. The pair shared the warning to alert consumers of scammers who are also shopping for the personal information of their next victim.
* Tuesday: Taxpayers should be wary of the growing number of inaccurate tax claims that are presented on social media [ [link removed] ]. These scams use a variety of tactics to inflate refunds and make ludicrous claims.
* Wednesday: Consider additional protection between their tax returns and identity thieves by joining the Identity protection personal identification number (IP PIN) program [ [link removed] ] at the start of the 2025 tax season.
* Thursday: Review and update security measures and practices to guard against the latest scams [ [link removed] ] and to exercise extreme caution when responding to shared solicitations and the links, attachments and contact details that go with them. Never call, click or respond without first confirming the source.
* Friday: Tax professionals are encouraged to review their Written Information Security Plans [ [link removed] ] and reevaluate their strategies for safeguarding sensitive client and personal data.
For additional information, visit National Tax Security Awareness Week 2024 [ [link removed] ].
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*2. IRS warns: Beware of charitable contribution scams and other fraudulent schemes *
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The IRS cautioned taxpayers against falling victim to scammers of fraudulent tax schemes [ [link removed] ] involving donations of ownership interests in closely held businesses, which are sometimes sold as “Charitable LLCs.” The IRS views these promotions, which frequently target high-income individuals, as abusive transactions.
Taxpayers can report abusive tax schemes using:
* The complaint form located at Treasury Inspector General for Tax Administration [ [link removed] ] or by calling 800-366-4484.
* Form 14242, Report Suspected Abusive Tax Promotions or Preparers [ [link removed] ], to report a suspected abusive tax avoidance scheme and tax return preparers who promote such schemes.
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*3. ETAAC is accepting membership applications through Jan. 31*
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The IRS is seeking qualified applicants for nomination to the Electronic Tax Administration Advisory Committee [ [link removed] ] (ETAAC), an organized public forum for discussion of issues in electronic tax administration, such as prevention of identity theft and refund fraud. The IRS is looking for qualified individuals who will serve three-year terms beginning in September 2025. Applications [ [link removed] ] will be accepted through Jan. 31. For more information about ETAAC, the application process and qualification criteria, email
[email protected].
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*4. IRS-CI releases 2024 annual report; notes agency’s billion-dollar impact, global reach*
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The IRS Criminal Investigation (IRS-CI) published its Fiscal Year 2024 (FY24) Annual Report [ [link removed] ], which includes investigative statistics, improved domestic and international partnerships and noteworthy cases involving crimes ranging from tax fraud to cybercrime.
“FY24 was one for the history books. For years, IRS-CI has been known as the agency that took down Al Capone, but this year, our cases hold their own place in U.S. history,” said IRS-CI Chief Guy Ficco. “As with Al Capone, financial trails eventually lead to criminals’ downfall. Our agents are the best at following the money trail, and that’s why they have an integral role in bringing down criminals ranging from national security threats to drug traffickers.”
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*5. Grants announced for the Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program *
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The IRS announced the award of $53 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants [ [link removed] ] to organizations that provide free federal tax return preparation.
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*6. Tax pros: New continuing education seminars available on IRS Nationwide Tax Forum Online*
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The IRS encourages tax professionals to register for the IRS Nationwide Tax Forum Online [ [link removed] ] to get access to 18 seminars [ [link removed] ] recorded at the 2024 IRS Nationwide Tax Forum. The Nationwide Tax Forum Online offers tax professionals a convenient way to stay informed about current legislation, IRS procedures and key topics for the upcoming tax season.
Each seminar features a 50-minute interactive video presentation with synchronized slides, downloadable materials and complete transcripts. Courses can be taken for continuing education (CE) credit for a fee of $29, or they can be reviewed for free (no CE credit).
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*7. Upcoming webinars for tax professionals*
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The IRS offers the upcoming live webinar to the tax professional community:
* *Digital Assets Existing and New Reporting Requirements* on Dec. 19, at 2 p.m. ET. Earn up to one continuing education credit (Federal Tax). Certificates of Completion are being offered. Click here [ [link removed] ] to register.
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*8. News from the Justice Department’s Tax Division*
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Anthony Judd [ [link removed] ], of White Plains, Maryland, pleaded guilty to preparing and filing a false tax return for a client. According to court documents and statements made in court, Judd was a full-time special police officer staffed at the National Archives and Records Administration and a part-time return preparer. Judd prepared and filed each client’s tax return as a “ghost preparer” and did not identify himself as the preparer on the returns. Judd caused a tax loss to the IRS of approximately $484,525. Sentencing is scheduled on April 16, 2025. He faces a maximum penalty of three years in prison. He also faces a period of supervised release, restitution and monetary penalties.
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*9. Technical Guidance*
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Notice 2024-82 [ [link removed] ] sets forth the 2024 Required Amendments List (2024 RA List). The 2024 RA List applies to individually designed plans qualified under section 401(a) of the Internal Revenue Code and individually designed plans that satisfy the requirements of section 403(b).
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