TIGTA: Revise Form 1099-R to Improve Taxpayer Compliance

TOP STORY Sponsored by TIGTA: Revise Form 1099-R to Improve Taxpayer Compliance  (JofA) - In a report released on Tuesday, the Treasury Inspector General for Tax Administration (TIGTA) recommended the IRS change its Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., to improve taxpayer compliance with reporting and paying tax on this type of income...  ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Contract Cancellations Trigger Taxes (Forbes) - If you cancel a contract and no money changes hands, do you have taxable income? It’s counterintuitive but you may...  E&Y to Pay $2 Million to Settle Audit Failure Charges  (Accounting Web) - On February 8, 2012, the Public Company Accounting Oversight Board (PCAOB) announced a settled disciplinary order censuring Ernst & Young LLP (E&Y). It imposed a $2 million civil money penalty against the firm, which is PCAOB's largest civil money penalty to date.  How To Hire Right  (Financial Advisor) - There is nothing more inefficient or costly than selecting the wrong person to fill a particular position within a firm. There is the time lost in the process, not to mention the cost of acquiring a new employee along with wages paid to someone who does not stay.  Tax Reform: You Can’t Have It All (CFO) - What tax breaks would you be willing to trade for a lower statutory corporate tax rate? Would you be open to giving up 100% expensing of capital investments, a temporary tax break that lets companies make up-front write-offs on new investments? Did You Know?... Citations for the Weekly Podcast Click here for your Personalized State, Health, Travel, Sports, Entertainment, Science and World News. THE ACCOUNTANT 4-1-1 Rental Real Estate Rules and Real Estate Professionals Brief Review for 2012 Tax Season (Individuals) Social Security and Tax Planning Taxation Contract Cancellations Trigger Taxes Tax Reform: You Can’t Have It All 7th Circuit Denies Charitable Deduction for Home Demolished by Fire Department in Training Exercise ? TEST YOUR TAX & ACCOUNTING KNOWLEDGE Cash Basis Tax Accounting - Click here to answer Have a question? Let experts and peers help you. ACCOUNTING/AUDIT TIGTA: Revise Form 1099-R to Improve Taxpayer Compliance E&Y to Pay $2 Million to Settle Audit Failure Charges Technology Google Tweaks Chrome in New Release IRS Unveils New Version of Smartphone App; IRS2Go 2.0 Offers Videos, Tax Help Business News Weekly Jobless Claims Lower Than Expected