Practice management

A new Internal Revenue Service team looking at the business activities of the ultra-wealthy has missed its own goals, reviewing only one privately held company and 10 partnerships in fiscal 2011, said a Syracuse University research group on Tuesday.

The Internal Revenue Service could increase its revenue by an estimated $20 million a year if it took steps to ensure that fraud indicators are recognized and properly investigated during field audits of individual tax returns, according to a new report.

The Internal Revenue Service Oversight Board is urging Congress to restore recent budget cuts at the agency to improve enforcement and taxpayer service.

I had the unexpected surprise yesterday of lunching with Karl Rove, known as the architect of President George W. Bush’s election campaigns.

President Obama told a crowd of students and supporters that Congress should vote to approve his plan to ensure that millionaires don’t pay lower tax rates than the middle class.

House Budget Committee Chairman Paul Ryan, R-Wis., talked about how tax policies need to emphasize economic growth during a speech Tuesday, in which he also took aim at President Obama’s budget.

New Jersey Governor Chris Christie talked about his budget battles with New Jersey lawmakers during an entertaining speech in New York on Tuesday.

Former President George W. Bush said Tuesday that he wished the Bush tax cuts were not named for him.

Some H&R Block offices are offering free filing of tax extensions now through the April 17 tax filing deadline, the company said Monday.

The odds are stacked against corporations whose disputes with the Internal Revenue Service go all the way to the Supreme Court, a new study found.

The commissioner of the Internal Revenue Service warned on Thursday of "a real disaster" for taxpayers next year should Congress miss a December 31 deadline to decide on billions in major tax provisions.

A new study has found that the Form 990 tax returns filed by tax-exempt organizations frequently expose the Social Security numbers of tax preparers, donors, employees, scholarship recipients and others to the public.

From week to week, we see occasional reports that banks aren’t lending to businesses, and that businesses can’t get the money they need to grow and to create jobs. Whether that’s true remains a little murky, but frankly, I worry more about businesses borrowing too much money.

President Obama signed into law on Thursday the Jumpstart Our Business Startups Act, also known as the JOBS Act, which lowers the regulatory and auditing barriers for companies to seek funding and enter the capital markets.

The Internal Revenue Service is not making consistent use of the codes that are supposed to indicate which IRS enforcement actions have led to taxpayers paying their outstanding taxes due, according to a new government report.

Internal Revenue Service Commissioner Doug Shulman described in a speech Thursday how the agency is using information from its tax preparer regulation initiative to identify practitioners who are showing patterns of tax fraud.

The National Society of Accountants has begun providing an online webinar program to help tax preparers get ready for the Internal Revenue Service’s new tax preparer exam.

The U.S. Tax Court filed a case last month that at first glance appears to deal a serious blow to cost segregation studies on residential apartments. However, upon further review, this court case is not as detrimental as it might appear.

Investors are continuing to challenge corporate boards to further improve their oversight and disclosure around topics such as environmental sustainability and social responsibility.

One of the promoters of a bogus foreign currency exchange investment fund that effectively operated as a Ponzi scheme has been sentenced to nearly two years in jail on tax charges.