{"id":66509,"date":"2019-10-03t12:00:50","date_gmt":"2019-10-03t16:00:50","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=66509"},"modified":"2020-06-29t11:17:01","modified_gmt":"2020-06-29t15:17:01","slug":"7-changes-in-the-new-taxpayer-first-act","status":"publish","type":"post","link":"\/\/www.g005e.com\/2019\/10\/03\/7-changes-in-the-new-taxpayer-first-act\/","title":{"rendered":"seven changes in the new taxpayer first act clients need to know"},"content":{"rendered":"

\"young<\/a>one congressman says it “levels the playing field.”
\n<\/strong><\/p>\n

by barry j. friedman, cpa<\/i>
\n
industrynewsletters<\/i><\/a><\/p>\n

the taxpayer first act of 2019 is redesigning how the irs works with taxpayers, even though it may take a while for many of the provisions to take effect.<\/p>\n

more: <\/b>how manufacturers can use the r&d tax credit<\/a> | padding your tax deductions? the consequences are serious<\/a> | beware the taxes of self-employment<\/a> | charitable giving under tcja<\/a>
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some experts have highlighted the following aspects of the bill as especially important:
\n
\nan independent appeals process.<\/strong> taxpayers and small businesses will be able to challenge the irs’ position without undertaking the cost and expenses of court. irs appeals will be an independent unit that grants taxpayers access to case files. taxpayers will be able to protest if denied an appeal.<\/p>\n

innocent spouse treatment.<\/strong> the new law requires the u.s. tax court to take a fresh look at innocent spouse cases without taking previous decisions into account.<\/p>\n

modification of procedures for issuance of third-party summons.<\/strong> this is an important protection for taxpayers, especially small business owners. it discourages the irs from bypassing the taxpayer and contacting third parties \u2013 such as financial institutions \u2013 instead for information. the irs should give taxpayers a meaningful opportunity to provide the information it is seeking prior to its contacting third parties. in practice, the irs should provide the taxpayer with<\/p>\n