Tax practice

The Internal Revenue Service has issued a new revenue procedure for this year providing the depreciation deduction limitations for owners of passenger automobiles (including trucks and vans) first placed in service during calendar year 2015 and the amount to be included in income by lessees of passenger automobiles first leased during 2015.

Three Republican lawmakers are calling on the Social Security Administration to work with the Internal Revenue Service to do more to stop fraudulent claims for the Earned Income Tax Credit, particularly by the self-employed.

A Swiss banker charged three years ago in New York with helping Americans evade taxes was arrested in Germany and faces extradition to the U.S., two people familiar with the matter said.

The Affordable Care Act requires that in 2014 all Americans must have qualified health insurance or face a Shared Responsibility Payment.

The Internal Revenue Service rehired hundreds of former employees with prior conduct or performance issues, including employees who failed to file their taxes, falsified official forms and misused IRS property, according to a new report.

UBS Group AG is being investigated by the U.S. over whether it helped Americans evade taxes by improperly using securities that let owners conceal their identity, three people familiar with the matter said.

The Internal Revenue Service has launched a new, online public directory of tax return preparers as part of its effort to promote its Annual Filing Season Program for testing and continuing education of tax preparers on a voluntary basis.

Republican lawmakers are doing something surprising with President Barack Obama’s proposal to tax U.S. companies’ overseas profits. They’re calling it constructive.

The U.S. House Ways and Means Committee voted to revive and permanently extend six lapsed tax breaks that would help small businesses and people who make charitable contributions.

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

The U.S. Treasury Department and the Department of Education are working with H&R Block and Intuit this tax season to raise awareness of the income-based repayment options for federal student loan borrowers.

The Internal Revenue Service did not always respond with accurate, timely information to requests from law enforcement to help identity theft victims, according to a new report.

Families with domestic employees struggle with all the state and federal tax obligations and often make inadvertent mistakes that can become very expensive and frustrating.

President Barack Obama’s proposal to tax the offshore profits of U.S. corporations could encourage all but the largest companies to follow their cash hoard overseas, according to business leaders and tax lawyers.

As Congress begins to digest President Obama’s proposals for changes in how to tax the foreign earnings of U.S. multinational companies, a brief refresher on business structure might be useful.

Rules from the Internal Revenue Service that would limit nonprofit groups' involvement in politics may not be enforced before the 2016 election, IRS Commissioner John Koskinen said Tuesday.

Former Internal Revenue Service commissioner Mark W. Everson is worried about the impact of continuing budget cuts on his old agency’s ability to help taxpayers and tax practitioners this tax season as the IRS is encouraging taxpayers to check the IRS.gov Web site for answers to questions before picking up the phone.

President Barack Obama’s latest budget plan narrows the gap between the two parties on U.S. business taxes, offering the glimmer of a potential agreement.

President Barack Obama wants to remove a tax benefit for college sports fans.

The Obama administration has released its fiscal year 2016 budget tax proposals, which would raise taxes on the wealthy and multinational corporations stashing profits offshore, while promising middle-class tax cuts.