The GAO says that since FY 2010, the IRS has lost 10,000 employees and had its budget cut by $900 million. More cuts are proposed for the 2015 IRS budget. Identity theft issues, foreign asset reporting, and Affordable Care Act (ACA) responsibilities will continue to absorb personnel and resources.

When you receive your 1099s and 1098s in the upcoming weeks the forms may have a different look. They may also contain some additional information you will need to complete your 2014 federal tax return.

A few folks thought they could use their individual retirement accounts for short-term loans to themselves. The Internal Revenue Service was not amused. Starting in 2015, new rules apply for withdrawing money from an IRA with the aim of rolling it into another IRA investment, taking possession of the funds yourself in the process.

An ID theft problem ahead of the Oct. 15 filing deadline will likely lead to measures that will slow refunds in the spring, Ohio Tax Commissioner Joe Testa told OSCPA this week.

Virtually all Ohio small business owners and investors will be eligible for a 75% tax deduction on the first $250,000 of business income when they file their 2014 Ohio tax return. This is an increase from the 50% deduction they took on their 2013 tax returns.

Sometimes a grandfather knows best, even when the disagreement involves the Internal Revenue Service.