Tax practice

Eight of the biggest U.S. technology companies added a combined $69 billion to their stockpiled offshore profits over the past year, even as some corporations in other industries felt pressure to bring cash back home.

U.S. officials are concerned that the trillions of dollars companies park overseas are doing more than just helping them skirt taxes. They’re worried the practice leaves investors in the dark.

A U.S. Supreme Court argument over Obamacare’s tax subsidies divided the justices along ideological lines, potentially leaving two pivotal members to decide the fate of the landmark law.

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

The Internal Revenue Service’s fiscal year 2015 appropriation of $10.9 billion and staffing levels of 81,279 full-time equivalent employees continue a decline that has occurred over several years and are now below fiscal year 2009 levels, according to a new government report.

The U.S. Supreme Court decided unanimously Tuesday that the Direct Marketing Association, a trade association of retailers, was not barred by the federal Tax Injunction Act from bringing a suit against the Colorado Department of Revenue attacking Colorado’s notification and reporting requirements for non-collecting retailers of sales tax.

The Internal Revenue Service has issued a notice proposing a revenue procedure that, if finalized, would provide an optional safe harbor method for individual taxpayers to determine a wagering gain or loss from certain slot machine play.

Payroll and HR technology giant ADP is offering accountants and their small-business clients free access this tax season to the ADP HR HelpDesk through April 30, 2015.

Democrats on the Senate Finance Committee released a new report Tuesday, “How Tax Pros Make the Code Less Fair and Efficient: Several New Strategies and Solutions,” in conjunction with a hearing on “Fairness in Taxation.”

The Internal Revenue Service is continuing its enforcement push against refund fraud and identity theft, and today announced the Top Ten Identity Theft Prosecutions for Fiscal Year 2014.

The Internal Revenue Service’s Large Business & International division has opened a gateway that financial institutions and the tax authorities abroad can use to send information on financial accounts held by U.S. taxpayers in accordance with the Foreign Account Tax Compliance Act.

The Internal Revenue Service is auditing the taxes of fewer businesses as a result of budget cuts in recent years.

Sen. Chuck Grassley, R-Iowa, said he plans to introduce legislation to deny undocumented immigrants who qualify under President Obama’s executive action on immigration reform the ability to claim the Earned Income Tax Credit for previous years.

The Internal Revenue Service said Monday that farmers and fishermen who miss this year’s March 2 tax deadline because they are receiving corrected premium tax credit forms from the Healthcare.gov health insurance marketplace will have until April 15, 2015, to file their 2014 returns and pay any tax due.

The Internal Revenue Service has released a notice that provides guidance to employers on the requirements for employee consents used by an employer to support a claim for refund of over-collected Social Security tax and Medicare tax.

Gilead Sciences Inc., whose $1,000-a-pill hepatitis C treatment is one of the world’s most expensive drugs, is avoiding billions of dollars in U.S. taxes by booking profits overseas.

Some of our favorite recent tax fraud cases, including the scammers who targeted the head of a state tax agency.

The Internal Revenue Service has changed the mailing address for Form 3115, Application for Change in Accounting Method.

The IRS has issued nearly 40 million tax refunds worth almost $125 billion for this season as of February 20.

The owner of several Liberty Tax Service franchises has been arrested after he was caught by police in the act of trying to drown his baby in a sink after brutally assaulting his wife.