Tax practice

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.

The Internal Revenue Service issued an alert Tuesday to payroll and human resources professionals to beware of an emerging phishing email scheme that purports to come from company executives and requests personal information on employees.

Apparently, absolutely free is an enticing price-point.

Tax season creates many opportunities for an accounting firm. One main reason is the compression of sometimes an almost unbearable amount of work into a short period with tight deadlines.

The Internal Revenue Service has released a new guide for auditors in its Large Business and International division outlining a new examination process for big businesses.

Donald Trump’s disclosure that his tax returns have been under review by the Internal Revenue Service for the past 12 years reflects a “very unusual” level of scrutiny by tax authorities, according to a former Internal Revenue Service agent who now works as an accountant for wealthy people.

Senator Ted Cruz and his wife, Heidi, paid $1.5 million in federal income taxes from 2011 through 2014 on adjusted gross income totaling more than $5 million, according to partial tax returns released in e-mails to reporters by the Republican presidential candidate’s campaign Saturday.

Florida Senator Marco Rubio and his wife, Jeanette, reported $2.3 million in income over the past five years and paid $526,092 in federal income taxes, according to tax documents released by the presidential candidate’s campaign Saturday.

A roundup of our favorite recent tax fraud cases.

Farmers and fishermen who chose to forgo making quarterly estimated tax payments for 2015 generally must file their 2015 federal return and pay any tax due by Tuesday, March 1.

What’s new for 2015 tax returns?