Tax practice

A recent report from the Government Accountability office says that despite whistleblowers’ growing importance to IRS recoveries, the IRS’s whistleblower program remains seriously flawed.

Congressional leaders unveiled a wide-ranging deal on tax extenders, making some items permanent.

Congressional leaders unveiled a broad package of spending and tax legislation that would avert a U.S. government shutdown and lift the 40-year-old ban on crude oil exports.

Credit Agricole SA’s unit in Switzerland agreed to pay $99.2 million to avoid prosecution through a U.S. program that has secured almost $742 million in penalties from 64 Swiss banks that disclosed how they helped Americans evade taxes.

A New York tax preparer received a 12-month prison sentence and was ordered to pay $144,604.00 in restitution to the Internal Revenue Service after he was convicted of preparing false tax returns.

A new academic study pours cold water on the notion that companies that promote their social responsibility efforts are any better at paying their taxes than regular corporations.

Senate negotiators are nearing a deal to allow unfettered U.S. crude oil exports for the first time in 40 years, though differences remain on renewable-energy tax credits that Democrats are demanding in return, according to people close to the discussions.

A roundup of some of our favorite new tax fraud cases.

Plaxico Burress, a former NFL wide receiver who played for the New York Giants, New York Jets and Pittsburgh Steelers, has pleaded guilty to tax evasion charges.

Michael Sonnenblick of Thomson Reuters discusses how tax loss harvesting can help investors save on taxes, along with some of the risks.

As the calendar year—and for many companies, the financial year—draws to a close, accountants are gearing up for or holding what can feel like a gauntlet of meetings with business owners to begin preparing financial statements and tax returns.

The Internal Revenue Service has issued a notice that provides guidance on the Supreme Court’s decision in the Obergefell same-sex marriage case to retirement plans, along with health and welfare plans.

Sen. Pat Roberts, R-Kan., has introduced a bill to block a proposed regulation from the Internal Revenue Service and the Treasury Department that would give nonprofits the option of asking donors for their Social Security numbers to substantiate donations of more than $250.

Liberty Tax Inc., parent company of Liberty Tax Service, reported a net loss for the fiscal second quarter ended October 31 of $9.1 million.

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

The Internal Revenue Service has selected TaxSlayer as the new tax software provider for the IRS’s Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs, starting with the 2017 tax filing season.

In July my column for this space asked whether it was too early to start thinking about tax extenders. Now, the question might better be phrased whether it is too late.

Michael Sonnenblick of Thomson Reuters discusses some of the main issues for next tax season, such as the Premium Tax Credit and the deduction for state and local taxes.

ADP is participating in an Internal Revenue Service pilot program to test verification codes on W-2 forms in an effort to reduce tax refund fraud.