AICPA identifies problems with IRS’s electronic signature rules

The Journal of Accountancy notes that Jeffrey Porter, chair of the AICPA’s Tax Executive Committee, sent a letter to IRS Commissioner John Koskinen raising concerns about the IRS’s recently issued guidance on electronic signatures. The letter addresses the electronic signature standards that apply when a taxpayer does not appear in person before the tax return preparer to present a valid form of identification.

In March, the IRS updated Publication 1345, Handbook for Authorized IRS e-File Providers of Individual Income Tax Returns, to authorize taxpayers to sign, and practitioners to accept, e-file authorization forms containing electronic signatures. (For more on the new standards, see “E-File and Digital Signatures: Where Are We Now?” The Tax Adviser, June 2014, page 430.)

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Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.