Showing posts from August, 2014

IRS Admits it has Been Disclosing Sensitive Taxpayer Information without Adequate Controls

The Treasury Inspector General for Tax Administration (TIGTA) found that some IRS contractor personnel without the appropriate background investigation had access to taxpayer and other sensitive but unclassified (SBU) information. TIGTA found that taxpayer data and other SBU information may be at risk due to a lack of background investigation requirements in five contracts for courier, printing, document recovery and sign language interpreter services. TIGTA found 12 more service contracts for which employee background checks were required by the contracts; however, some of the personnel did not have interim access approval or final background investigations before they began working on the contracts.

TIGTA made five recommendations to the IRS to ensure that the service contracts have security provisions included in the solicitation and contract, and that associated contractor personnel have appropriate interim access approval or final background investigation before working on the c…

California—Property Tax: Solar Energy System Exclusion Extended

In California there are basically two ways that your property taxes can be reassessed at full market value. One is when you sell or purchase the real property. The second is if you have new construction or have a major addition to the real property. There are numerous tax incentives both in California and at the Federal level to promote green energy. One such incentive includes the California property tax rules which were amended to provide an exclusion from classification as newly constructed for the construction or addition of an active solar energy system. Thus, if you install a solar energy system on your rooftop that will not cause your property taxes to increases because of new construction. The exclusion however was set to expire in 2015-16. The good news is that the exclusion has been extended and now applies to property tax lien dates through 2023-24 fiscal year. Under the new amendments the exclusion is repealed January 1, 2025 (formerly 2017). Therefore, active…