Tax practice

It’s time to revamp the Earned Income Tax Credit, tax professionals say -– though they don’t necessarily agree on how.

Bay Area rapper Kreayshawn tweeted out her tax troubles after discovering that the IRS had apparently cleaned out her bank reports.

Ineffective monitoring of refunds and a computer programming error caused the Internal Revenue Service to issue more than $46 million in erroneous refunds, according to a new report.

The IRS has announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2016, as in the previous quarter.

The Internal Revenue Service will begin accepting individual tax returns on Tuesday, Jan. 19, 2016, it announced today.

The omnibus spending bill signed into law last week gives the Internal Revenue Service an additional $290 million in funds – but it must be spent only taxpayer services and efforts against tax-related identity theft.

The PTIN system will be down for approximately two to three hours for necessary maintenance beginning at 8 a.m. EST on Monday, Dec. 21, as well as a few days over New Year's.

The Protecting Americans from Tax Hikes Act of 2015 extends a number of important tax breaks, and makes many of them permanent.

Some of our favorite recent tax fraud cases.

Edmond de Rothschild (Suisse) SA agreed to pay $45.4 million to avoid prosecution for helping U.S. clients evade taxes.

Congress passed a $1.1 trillion spending measure that extends a number of important tax provisions, and makes several of them permanent.

The IRS has issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

With the advent of the Nanny Tax in 1994, it became a little more complicated for a family to hire a nanny, housekeeper or senior caregiver.

The House has approved tax extenders legislation that makes a number of the periodically expiring tax breaks into permanent features of the tax code.

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

A set of delays on Obamacare-related taxes in the new federal spending bill will give corporate earnings a modest boost but are unlikely to undo the law or produce significant changes in the health-care industry.

Wolters Kluwer has introduced two new learning certification programs for tax professionals.

Bloomberg BNA has released a federal tax guide for 2016.

The former tax preparer for Mike “The Situation” Sorrentino, one of the stars of the MTV reality TV series “Jersey Shore,” and his brother, Marc Sorrentino, pleaded guilty Wednesday to filing fraudulent tax returns on their behalf.

The Tax Court has decided that media mogul Sumner Redstone’s 1972 transfer of stock to a trust set up for his two children was a taxable gift, but declined to impose a penalty for fraud, negligence, or failure to timely file.