Tax practice

The Internal Revenue Service’s delays in processing taxpayer correspondence are lengthening, leading to delayed tax refunds and bigger interest payments from the IRS, according to a new report.

The Internal Revenue Service has temporarily suspended the Identity Protection PIN tool on its website after security vulnerabilities were discovered in the service, which is intended to help victims of identity theft.

The Internal Revenue Service needs to improve the management of its backup and restoration process, according to a new report.

Senator Bernie Sanders’s proposals for sweeping tax hikes on businesses and individuals to bankroll universal health care, infrastructure and free college tuition would raise $15.3 trillion over the next decade but “substantially reduce incentives to save and invest in the United States,” according to a new policy study.

Ohio Governor John Kasich and his wife Karen paid about $1.3 million in federal taxes on the adjusted gross income of $5.1 million that they earned over a seven-year period, according to documents released by the Republican presidential candidate’s campaign.

A roundup of our favorite recent tax fraud cases.

Facebook Inc. will stop routing advertising sales of its largest U.K. clients through Ireland, increasing its British tax bill by millions of pounds in a bid to improve transparency after facing criticism on tax avoidance.

Democratic presidential candidate Hillary Clinton proposed rescinding tax relief and other incentives retroactively for U.S. companies that move jobs and operations overseas.

The American Institute of CPAs is asking the Treasury Department to provide tax relief to the cross-border savings accounts of U.S. and Canadian citizens.

Check out the digital edition of the March 2016 issue of Accounting Today.

Despite government disapproval, corporate inversions still have fans

With cases of identity theft and tax fraud increasing almost exponentially, tax preparers should educate their clients about the dangers they face in having their information compromised, according to executives at several credit monitoring and identity protection services.

Highlights of some of our favorite tax-related blogs from the past week.

Wolters Kluwer Tax & Accounting said it has been selected by the Internal Revenue Service to provide tax law and expert guidance and analysis handbooks to support the IRS staff in their research responsibilities.

Many estate planners recommend that clients create trusts for various reasons, but problems can arise when the trustee is a family member who has no experience regarding the responsibilities of a trustee.

Many of the special personal identification numbers given out by the Internal Revenue Service to protect victims of identity theft may have been stolen, according to a security research site.

Handling the IRS, clients and the other frustrations of tax filing season

The Internal Revenue Service has followed up on the Obama administration’s opening of diplomatic relations with Cuba by releasing a new revenue ruling that removes certain restrictions on income earned in Cuba.

As access to larger amounts of information on corporate business operations and transparency into tax calculations increase, tax departments have the opportunity to function more strategically if they seize it.

The Tax Foundation, a tax policy research organization, has released the latest edition of its annual compendium of data on state taxes.