Tax planning

An advisory committee on tax information reporting has recommended a number of changes for the Internal Revenue Service to make to improve taxpayer identity protection, disaster reporting and other matters.

The Tax Foundation has selected three videos as winners of a contest that aims to draw attention to the high rate of business taxes in the U.S.

The Texas Society of CPAs has provided five tips that CPAs can pass along to their clients to calm their financial worries.

It might seem strange, pairing the phrase “love fest” with the AICPA Fall Council meeting, but I tell you, the lovely and heartfelt moments were flowing as freely as the wine and margaritas at the opening reception.

States are getting pounded by the economy, with tax collection revenues in the third quarter among the worst in years, according to a new report.

The Internal Revenue Service has withdrawn a tentative assessment of more than $319 million in tax penalties against FedEx.

CCH Small Firm Services, part of Wolters Kluwer Tax and Accounting, has acquired IntelliTax, a tax software company formerly known as Orrtax Software Solutions.

An attorney for New York Governor David Paterson's chief of staff has attributed his client's neglect in filing tax returns between 2001 and 2005 to "failure-to-file syndrome."

The Internal Revenue Service said that more than 279,000 economic stimulus checks, totaling about $163 million, and over 104,000 regular refund checks, totaling about $103 million, have been returned by the U.S. Postal Service due to mailing address errors.

Payroll processor PayCycle said its 1099 MISC E-File service would be open for accounting professionals serving small business clients starting Jan. 1, 2009.

A recent study of unpublished Internal Revenue Service data has found that wealthier people are hiding their income at greater rates than those in lower income brackets.

The Internal Revenue Service reported that it has seen a strong response to its settlement offer for two types of tax shelters, with companies agreeing to pay back taxes totaling billions of dollars.

Federal Reserve Chairman Ben Bernanke has given new life to calls for an economic stimulus package, but exactly what it will be is anybody's guess.

The New York State Society of CPAs and its Foundation for Accounting Education plan to hold an auditing conference on Oct. 27.

Cindy McCain has released the summary pages of her recently filed 2007 federal tax return.

BNA said its vice chair, Sandra C. Degler, has died of cancer.

An Internal Revenue Service employee has been sentenced to one year's probation for improperly accessing tax information about one of his acquaintances.

Tax software manufacturers predict that the impending election will fuel the tax prep market, as both presidential candidates propose significant changes to the Tax Code."The tax side of business will be brisk across the board regardless of the space they're playing in, because whoever becomes president will try to change the Tax Code, and change means more business," said Gene Goldenberg, senior vice president of marketing for CCH Small Firms Services, makers of ATX and TaxWise.

INTUIT, BLOCK TO OFFER FREE 1040 E-FILING NEXT YEAR

The Internal Revenue Service has not developed sufficient processes to ensure that more than 61 million tax refunds were directly deposited last tax season to the correct bank account, according to a new report from the Treasury Department’s inspector general.