Tax practice

An estimated 24,237 taxpayers may have been adversely affected because the Internal Revenue Service did not follow requirements to notify the taxpayers’ representatives of the taxpayers’ rights related to notices of federal tax liens, according to a new report.

The IRS is seeking to limit private-equity executives’ practice of reducing their tax bills by reclassifying how their management fees are taxed.

The IRS needs stronger ways to prevent nonprofit groups from facing audits because of employees’ biases, the Government Accountability Office found in a report being issued Thursday.

The union representing Internal Revenue Service employees is denouncing a provision in the pending highway funding bill that would require the Treasury Secretary to contract with private collection agencies as an offset for some of the costs of extending funding for the Highway Trust Fund.

Returns stats, ACA results and more from the 2015 filing season

Sen. Rand Paul, R-Ken., who is one of the Republican candidates running for President, demonstrated his tax reform chops by releasing a campaign video showing him destroying the 70,000-page U.S. Tax Code with a chainsaw, fire, and a wood chipper.

The Senate Finance Committee passed a tax extenders bill Tuesday with a bipartisan vote of 23 to 3 that extends over 50 tax breaks for two years.

The Internal Revenue Service plans to make changes in its determination letter program for retirement plans in an effort to save money.

Tax assessments from the Internal Revenue Service’s Automated Underreporter Program have increased 85 percent in recent years, although the accuracy-related penalties were not always applied, according to a new report.

Approximately 710,000 taxpayers who received the Advanced Premium Tax Credit for buying health insurance last year have not filed their tax returns or filed for an extension.

House Democrats introduced two bills to shore up the Highway Trust Fund with money from corporate taxes.

Former New York congressman and FBI agent Michael Grimm is heading to prison for scamming the government out of taxes in his operation of a Manhattan health food restaurant.

Some of our favorite recent tax fraud cases.

Given the remarkably rapid rise of Internet commerce, it’s no surprise that cash-strapped states are looking for ways to tap into (i.e., tax) the bountiful stream of revenue.

E-signature provider Signix has created an infographic about the Internal Revenue Service and e-signatures.

Happy Asker, the founder of a pizza chain based in Farmington Hills, Mich., that operated restaurants throughout Michigan, Ohio and Illinois, was sentenced last week to 50 months in prison for income and employment tax fraud.

Rep. Sander Levin, D-Mich., the ranking Democrat on the tax-writing House Ways and Means Committee, has introduced legislation to clarify equal treatment for all married couples under the U.S. tax code in response to the Supreme Court's ruling last month allowing same-sex marriage in every state.

Senate Finance Committee chairman Orrin Hatch, R-Utah, and ranking Democratic member Ron Wyden, D-Ore., said Friday the committee will markup a tax extenders bill next Tuesday.

The experts at HD Vest lay out the financial details that every couple should take care of before the big day.

“In every country I’ve been in, real estate is the best tax shelter,” said Tom Wheelwright, CPA, an advisor and speaker at Robert Kiyosaki’s Rich Dad Poor Dad seminars, and a contributor to Donald Trump’s Wealth Builders Program.