Tax Industry Talk
IRS Progress Through Use of Technology
The following Prepared Remarks of IRS Commissioner Douglas H. Shulman to the CERCA meeting on October 12th describe the progress made by the IRS through the use of technology since the inception of e-Filing to improve service to US taxpayers. The Commissioner also outlines plans for the full implementation of CADE 2 and Modernized eFile to move toward the IRS goal of creating a “real time tax system”.
http://www.irs.gov/newsroom/article/0,,id=247196,00.html
My Memory of the World Trade Center
In the fall of 1981, 20 years before 9/11, I graduated from the XMBA program at Pace University in Manhattan (my birthplace). Our morning graduation was held in the Pace Schimmel Center at the foot of the Brooklyn Bridge. Several larger XMBA classes in addition to our small class of 17 were also graduating. Our commencement speaker was Peter Drucker, a personal friend of our entrepreneurship professor, Jack Flaherty (who inspired me to ultimately become an entrepreneur). Drucker and Flaherty had both been professors at nearby NYU. To celebrate our graduation, our class went to lunch at The Windows of the World in the World Trade Center a few blocks away. In the restaurant, I looked out the window at the incredible sight. The sun had moved to the west behind the Twin Towers, highlighting a clear panoramic view looking east over lower Manhattan, the East River and Brooklyn. I took out my camera and snapped a photo (link below) and was promptly chastised by the restaurant staff who informed me that taking photos was not allowed. In the photo, the left shadow of the Twin Towers covers the Pace campus at the foot of the Brooklyn Bridge. After 30 years, I still keep a framed print of this photo in my office. I cherish my time at Pace and my memory of the World Trade Center; and I mourn the loss of life and our symbols of freedom at the hands of terrorists. However, I am very confident that we will win this war on terrorism!
IRS RTRP Exam Update
I spoke with Prometric in the Exhibit Hall at the IRS Tax Forum in Atlanta and they advised that the IRS Exam will be live this October. This was also confirmed in a seminar by the IRS. IRS has still not released the exact content of the exam; however, we understand it will cover Form 1040 series returns and most, if not all, related schedules and statements. I believe it will also cover IRS Due Diligence, Ethics and, possibly, the client Interview. All of these topics are taught in the Comprehensive Income Tax Course offered by The Income Tax School. www.TheIncomeTaxSchool.com
