Tax planning

Presidential hopefuls Sen. Barack Obama, D-Ill., and Sen. John McCain, R-Ariz., clashed over their tax plans, trading accusations of hikes in capital gains and Social Security taxes.

The Small Business Administration has created an online tax savings resource center to help small businesses understand the benefits of the economic stimulus package.

Senate Republicans have defeated a proposal to charge oil companies a windfall profits tax.

The Supreme Court ruled unanimously that businesses could use the Racketeer Influenced and Corrupt Organizations Act to sue competitors who purchased tax liens after submitting false documents.

The Internal Revenue Service is pursuing billionaire Philip Anschutz over $143.6 million in back taxes in an effort to discourage arrangements that allow people to defer paying capital gains taxes.

The AICPA Private Companies Practice Section (PCPS) did a remarkable job with its 2007 Top MAP Issues survey, and it was done without even changing the question that is asked each year or who was asked. It was done simply by taking a knife and cutting up the answers. The annual survey asks various practitioners in public practice: What are your top five MAP concerns?

The New York State Society of CPAs held a conference to discuss ways that accountants can battle fraud at the companies they audit.

The Internal Revenue Service has added new features to its Online Payment Agreement Application, making it easier for taxpayers and practitioners to modify existing installment agreements for paying tax debts to the government.

The American Institute of CPAs' Tax Division presented Alan Einhorn with its 2007-2008 Distinguished Service Award at its spring meeting.

The Government Accountability Office conducted an undercover investigation of tax preparers earlier this year to learn what they disclose to clients about the fees they charge for refund anticipation loans.

Richard Hatch, the first-season winner of the reality TV series "Survivor," has appealed his conviction on tax evasion charges to the U.S. Supreme Court.

The Senate Finance Committee held hearings on small business tax issues as part of a series of hearings on tax reform.

A report from Ernst & Young describes the potential adverse impact on the U.S. economy if the research and development tax credit is not renewed.

The U.S. Tax Court has proposed amending its rules and procedures for whistleblower award actions.

Buying goods over the Internet without paying sales tax is becoming a thing of the past.

Prosecutors who convicted actor Wesley Snipes on charges of failing to file his tax return for three years have filed a cross-appeal demanding that he pay $257,687.74 for the cost of prosecuting him.

An Internal Revenue Service tax examiner was arrested and charged with improperly accessing the tax records of celebrities and sports figures.

Despite a provision enacted by Congress prohibiting the Internal Revenue Service from labeling taxpayers as "illegal tax protesters" or similar designations, the IRS is still using the term, according to a new report.

Payroll processor ADP has launched an online portal aimed at accountants who service small businesses, giving them free access to some information from BNA and CCH.

Despite the constitutional, judicial and legislative pronouncements affecting nexus, states vary widely on what level of activity renders a business liable to pay state tax.“There are plenty of gray areas, and on some issues a state will say it depends on the facts and circumstances,” said George Farrah, executive editor of state tax and accounting for BNA.