Tax practice

While New York County, also known as Manhattan, topped the list of counties in 2013 ranked by average wages and salaries with $96,941, the richest county in the country during filing year 2013 in terms of average adjusted gross income was Teton County, Wyo.

April is Financial Literacy Month and Fred Slater, CPA, and Ellen Minkow, CPA, of MS 1040 LLC in New York City are offering some special tax advice.

The Internal Revenue Service and the Treasury Department have issued guidance aimed at making it easier for taxpayers to be automatically enrolled in retirement plans such as 401(k) and 403(b) plans by their employers, simplifying the correction methods if errors are made.

Practitioners need to be aware of the tax-free IRA rollover rules that took effect on Jan. 1, 2015 to protect their clients from major tax problems and penalties.

"Abolish the IRS" is a staple of Ted Cruz's stump speech.

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

Lois Lerner, the former IRS official whose office gave improper scrutiny to Tea Party groups seeking tax-exempt status, won’t be charged with contempt of Congress.

Small businesses should ask these five questions about software when selecting a tax preparer.

Better processes are needed to reduce the risks of employment tax fraud, according to a new government report.

A former Swiss asset manager pleaded guilty to helping U.S. clients hide millions of dollars in offshore accounts and avoid paying federal income taxes.

The IRS has fixed its errors, such as improper extra scrutiny of Tea Party groups, and they won’t happen again, the tax agency’s commissioner said Tuesday.

Sometimes what happens in Vegas doesn’t just stay on the Strip—it blows across the Sagebrush State like a wayward tumbleweed. Case in point: Nevada Health Link enrollees have been reporting mistakes on the 1095-A IRS forms to calculate their premium tax credit on the federally supported state-based HIX.

A tax pro offers this seasonally appropriate missive

Corporations could be erroneously claiming over $2 billion in carryforward general business credits, according to a new government report.

A recent Tax Court case found a taxpayer liable for a trust fund recovery penalty over the unpaid employment taxes of a partnership of which he was no longer a partner.

BSI SA, a Swiss private bank, admitted helping customers duck taxes by using coded language, nameless debit cards and fake identities as part of a landmark $211 million accord to avoid U.S. prosecution.

Even though tax season is getting close to the end, there are still some important tips that accountants can share with their clients by April 15, and beyond.

A former Credit Suisse Group AG banker and a Swiss trust firm founder who pleaded guilty were spared prison after helping the U.S. government build a $2.6 billion criminal tax case against the bank.

As we get into the final stretch of filing season, it is fulfilling the predictions made at the start.

Some of our favorite recent tax fraud cases.