Tax practice

Beyond the expected calls for tax fairness and middle-class relief, the President’s State of the Union address touched on a number of other significant topics.

Treasury Secretary Jack Lew said Wednesday that congressional Republicans and the Obama administration are too far apart on individual tax reform but could reach an agreement on business tax reform.

With the top income tax rate at 39.6 percent, advisors need to be savvy about the tax-saving strategies they utilize for their high net-worth clients.

The pervasive IRS impersonation phone scam has claimed nearly 3,000 victims who have collectively paid over $14 million, according to a new warning from the Treasury Inspector General for Tax Administration.

Federal prosecutors have agreed to return nearly $447,000 to a small business whose assets had been seized by the Internal Revenue Service and Treasury Department agents as part of the controversial civil forfeiture program.

The latest attempt to make the biggest change to the U.S. tax code in 29 years isn’t just an exercise, the top Senate Republican tax-law writer said.

President Obama urged the Republican-dominated Congress to move ahead on tax reform to lower taxes on middle-class families during his State of the Union address on Tuesday evening.

Working together with a number of agencies, including Customs and Border Protection, the FBI, Interpol and local police departments, the IRS Criminal Investigation unit has helped bring to justice dozens of members of the Sinaloa Cartel.

The Internal Revenue Service began accepting electronically filed individual tax returns Tuesday, opening the tax season on time this year despite its latest budget crunch.

Three New York residents, including one former IRS employee, have been indicted in federal court for defrauding the U.S. government by filing false claims for millions in false refunds.

A group of Democratic lawmakers in the House and Senate have introduced legislation to discourage U.S. corporations from merging with overseas companies to lower their tax bills in a strategy known as inversion that changes the company’s tax domicile.

Some of our favorite recent tax fraud cases.

President Barack Obama is proposing new taxes on the wealthiest Americans that would limit their profits from investments and make it harder for them to pass assets to heirs.

The Treasury Department and the IRS have released proposed regulations on the application of the research tax credit for internal use at companies in an effort to provide better clarity to businesses and tax professionals on the proper rules.

The Internal Revenue Service is eliminating the extended weekday hours, Saturday and President’s Day availability of its e-help desk service due to budget cuts.

The Internal Revenue Service has issued newly updated procedures for changing a business’s method of accounting for income tax purposes.

A New Orleans woman is facing multiple felony charges for a tax fraud scheme that involved filing false state income tax returns in the names of unsuspecting people, including some prison inmates, according to Louisiana authorities.

A new report finds that every state tax system, with the exception of the District of Columbia, taxes its poorest residents at significantly higher tax rates than the wealthiest 1 percent of taxpayers.

The Internal Revenue Service is on the verge of kicking off tax season, opening its Free File service on Friday and electronic filing next Tuesday, while dealing with the latest round of budget cuts that promise to further curtail customer service as the IRS prepares for an onslaught of questions related to the Affordable Care Act.

Leaders of the Senate Finance Committee have formed five bipartisan working groups with the goal of analyzing the tax code and developing policy recommendations for comprehensive tax reform.