Late in March 2023, the IRS began announcing the annual list of 12 tax scams and schemes that taxpayers should avoid during tax season and throughout the year. The scams noted this year are not dramatically different from those in prior years. They include:
A revenue ruling is the Commissioner’s “official interpretation of the interpretation of the law” and generally is binding on revenue agents and other IRS officials. Taxpayers generally may rely on published revenue rulings in determining the tax treatment of their own transactions that arise out of similar facts and circumstances.