Tax practice

Tax pros share their most confusing forms, clients and more

Starting February 16, the Internal Revenue Service will begin accepting requests for bilateral advance pricing agreements between the U.S. and India for the taxation of multinational companies.

Accounting firms that prepare the taxes of companies they also audit tend to steer away from dubious tax deductions, according to a new study.

The American Institute of CPAs has sent comments to the Internal Revenue Service and the Treasury Department asking for changes in the IRS’s draft Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent, and draft instructions.

A roundup of our favorite recent tax fraud cases.

We may not always have a busy season ...

Modified extenders may require revised planning to maximize benefits.

A radical revamping of the partnership audit rules will impact every partnership and LLC taxed as a partnership, starting in 2018.

Thomson Reuters has released ONESOURCE Indirect Tax Integration for Microsoft Dynamics AX, connecting the company’s sales tax and VAT software with Microsoft’s enterprise accounting product.

The Internal Revenue Service joined partners across the country in promoting the Earned Income Tax Credit on EITC Awareness Day on Friday.

Tax preparation software provider TaxSlayer detected suspicious activity on its servers about a week after another tax software developer, TaxAct, was attacked by identity thieves.

Given that tax prep businesses, like all businesses that depend on repeat customers, lose a portion of their client base each year, it is imperative they market themselves and attract new clients just to stay even.

The Internal Revenue Service needs to do more work to refine its latest fraud detection system to catch the new schemes that its older system managed to detect, according to a government report.

After three years and $1.37 billion in penalties, the U.S. is ending a disclosure program that forced Swiss banks to reveal all the secret ways they helped Americans evade taxes.

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

European Union competition chief Margrethe Vestager said Thursday morning she’s ready to investigate Google parent Alphabet Inc.’s 130 million-pound ($185.5 million) tax deal with the U.K. if there are complaints. It didn’t take long for the first to surface.

Samuel Wyly’s lawyer, fighting a $2.2 billion claim by the Internal Revenue Service, told a skeptical judge that his client’s tax planning was “aggressive but not illegal.”

Companies shouldn’t be able to get away with paying very low taxes—or none at all—in countries where they earn profits, EU Economic Affairs and Tax Commissioner Pierre Moscovici said as he introduced a package of proposals designed to curb tax evasion.

Tax pros share their most confusing forms, clients and more. (Text version)

Most of the proposals that Hillary Clinton and Bernie Sanders have pitched for taxing the rich won’t go anywhere if Republicans keep control of the House of Representatives, as expected.