e-News for Tax Professionals 2020-48

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Issue Number:  2020-48

Inside This Issue

1. Webinars: 2020 National Tax Security Awareness Week Nov. 30 – Dec. 4
2. Special $300 tax deduction helps most people give to charity this year – even if they don’t itemize
3. Get Ready for Taxes: Steps to take now to make tax filing easier in 2021
4. News from the Justice Department's Tax Division
5. Technical Guidance

During national Tax Security Awareness Week Nov. 30-Dec.4, the IRS will feature the following sessions at 2 p.m. EST for individuals, businesses and tax professionals:

Mon. Nov. 30: Cyber Monday: Security Tips from the IRS
Tue. Dec. 1: How to Protect Your Accounts Using Multi-Factor Authentication
Wed. Dec. 2: Get an Identity Protection Pin
Thu. Dec. 3: Small Businesses Must Guard Against Identity Theft
Fri. Dec. 4: Beware of Phishing Scams Targeting All Taxpayers

No continuing education credit will be available for these 30-minute seminars.

Now available: See a special YouTube message from IRS Commissioner Chuck Rettig about the importance of tax security.

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The IRS reminded individuals of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year, cash donations of up to $300 made before Dec. 31, 2020, are now deductible when people file their taxes in 2021.

“Our nation’s charities are struggling to help those suffering from COVID-19, and many deserving organizations can use all the help they can get,” said IRS Commissioner Chuck Rettig. “The IRS reminds people there’s a new provision that allows for up to $300 in cash donations to qualifying organizations to be deducted from income. We encourage people to explore this option to help deserving tax-exempt organizations – and the people and causes they serve.”

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In the second reminder of the Get Ready for Taxes series, the IRS encouraged individuals to take necessary actions this fall to help file federal tax returns timely and accurately in 2021. Having records organized makes preparing a tax return easier, and it may also help discover potentially overlooked deductions or credits.

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A federal grand jury in Greenbelt, Md., returned an indictment charging an Upper Marlboro tax return preparer with conspiracy to defraud the U.S. and aiding and assisting in the preparation of false tax returns. According to the indictment, Anita Fortune provided tax preparation services under multiple business names, including Tax Terminatorz Inc. and allegedly prepared and filed returns using co-conspirators’ electronic filing identification numbers and identifiers. She also allegedly provided money and office space in exchange for her co-conspirators’ electronic filing credentials. For the tax years 2012 to 2018, Fortune, along with her two co-conspirators, allegedly added fictitious or inflated itemized deductions and business losses to clients’ returns, which fraudulently reduced their tax liabilities and increased their refunds. If convicted, Fortune faces a maximum sentence of five years in prison for the conspiracy count and three years for each false return count. Fortune also faces a period of supervised release, restitution, and monetary penalties.

The Justice Department also announced that a federal court in Arizona permanently enjoined a Tucson area tax return preparer from preparing federal income tax returns for others. The civil complaint filed in the case alleged that Joseph Michael Vosberg included false business losses and charitable deductions on some of his clients’ returns. Vosberg also allegedly instructed his clients to keep receipts from their day-to-day activities to document their false business expenses and charitable donations in the event of an IRS audit and not to cooperate with the IRS during civil audits. The complaint alleges that Vosberg’s fraudulent tax return preparation activities have caused significant harm to his customers, the United States, and the public at large. Vosberg consented to the entry of a permanent injunction as part of his 2018 plea agreement with the United States in United States v Vosberg, CR 18-2527-RCC-EJM (D. Ariz.) (Dkt. No. 7). Under the terms of that agreement, Vosberg pleaded guilty to two counts of aiding and assisting in the preparation and presentation of a false federal income tax return.

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Notice 2020-84 provides that the adjusted applicable dollar amount that applies for determining the PCORTF fee for policy years and plan years ending on or after Oct. 1, 2020 and before Oct. 1, 2021 is equal to $2.66.

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