Tax practice

The Internal Revenue Service has issued a new revenue procedure that aims to make it easier for small business owners to comply with the final tangible property repair regulations.

The American Bar Association Section of Taxation has created a Tax Assistance Public Service endowment fund that will provide stable, long-term funding for the ABA’s tax-related public service programs for underserved taxpayers, including low-income people, military personnel and disaster victims.

The U.S. House of Representatives voted to revive a lapsed tax break for small businesses that encourages them to purchase equipment.

The House of Representatives voted to revive three U.S. tax breaks that encourage charitable giving in a bipartisan challenge to President Barack Obama’s threat to veto the measure.

Intuit Inc. Chief Executive Officer Brad Smith is facing one of the biggest challenges in his seven-year tenure: how to restore trust in his company after fraudulent tax returns were filed through its TurboTax program.

The Internal Revenue Service delivered a progress report Thursday on tax season so far, noting that it has issued 19.7 million refunds worth more than $66 billion, up slightly from last year’s totals.

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

Although many corporate tax and accounting departments are preparing for the March deadline, mistakes related to tax and accounting cost U.S. businesses billions each year.

Wolters Kluwer Tax & Accounting US (formerly known as CCH) has released a new report examining the tax implications of the White House’s recently released budget blueprint for fiscal year 2016.

Intuit Inc. Chief Executive Officer Brad Smith wrote to the Internal Revenue Service calling for the government to share information to help combat fraud, after states saw a rise in fraudulent returns being submitted via his company’s TurboTax tax software.

The IRS has warned that the coming three-day weekend typically kicks off one of the busiest weeks of the tax filing season for the service’s phone lines.

In 2015, a number of trends will shape how businesses prepare and file their taxes, as well as receive refunds. Many of these trends are driven by one major force— automation.

U.S. House members pressed the Internal Revenue Service to go easier on cash-dependent small businesses that are at risk of having assets seized by the tax agency.

The Internal Revenue Service’s Fresh Start Initiatives have helped thousands of struggling taxpayers resolve their outstanding tax liabilities, but tax revenue collection could be jeopardized by potential risks, according to a new report.

The Internal Revenue Service is facing not only a budget crunch this tax season, but also rampant identity theft.

In response to a Supreme Court decision last year, the Internal Revenue Service issued an announcement Tuesday on how it would continue to disallow most claims for refunds of taxes on severance pay, with some exceptions.

A group of senators have re-introduced bipartisan legislation to permanently prohibit taxes on Internet access.

The 2014 tax season is going to be a stressful one for many people.

A majority of CFOs at multinational corporations believe that publicity about their tax-planning strategies is having a negative impact on the reputation of their companies, according to a new poll.

Makers of propane and hard cider are among the likely winners as the U.S. Senate Finance Committee prepares to vote this week on a package of tax breaks.