Tax practice

For the tax preparation office that relies on seasonal hires, this is the make or break time of year.

European Commission President Jean-Claude Juncker sought to blunt an early challenge to his leadership by rebutting allegations that he presided over sweetheart corporate tax deals during almost 19 years as prime minister of Luxembourg.

The Internal Revenue Service was unable to deploy an $8.6 million case management system for matching tax returns with information returns from banks and brokerage firms reporting data such as credit card transactions and the cost basis of trades, according to a new government report.

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

The Internal Revenue Service may have allowed approximately $167.7 million in questionable fuel tax credit claims between 2011 and 2013, according to a new government report.

The Internal Revenue Service did not maintain effective internal control over financial reporting as of Sept. 30, 2014, because of a continuing material weakness in internal control over unpaid tax assessments, according to a new report by the Government Accountability Office.

A tax preparer in the Bronx, N.Y. has pleaded guilty to operating a $4.8 million Ponzi scheme and faces up to 11 years in prison.

An Internal Revenue Service employee was arrested last week after knocking a woman unconscious at a Pittsburgh Steelers game and then trying to bribe several police officers to cover up the incident.

A former Internal Revenue Service agent in Houston who was fired for carrying a ritual dagger as an article of her Sikh religious faith has won a settlement with the federal government allowing her to bring it into federal buildings.

Wolters Kluwer CCH has released a new tax briefing document analyzing the federal tax legislation outlook along with strategies that taxpayers and businesses should consider for reducing their income taxes.

The Internal Revenue Service has issued guidance clarifying the impact that a 2014 rollover of an individual retirement arrangement has on the one-per-year limit imposed by the Tax Code on tax-free rollovers between IRAs.

The Internal Revenue Service needs to increase the number of business tax returns and information returns that are filed electronically, recommends a new government report.

The IRS is reminding tax professionals and taxpayers that procedures kick in this January to limit to three the number of refunds electronically deposited into a single financial account or onto a pre-paid debit card.

Ernst & Young has published the latest annual edition of its tax guide, the EY Tax Guide 2015.

Do-overs are the daydream gumdrops of careers after you work for a while. This holds especially true in an evolving and increasingly complex arena like tax prep.

Some of our favorite recent tax fraud cases.

The U.S. Supreme Court today agreed to review a challenge to the tax subsidies allowed under the Affordable Care Act, a critical aspect of the law meant to help uninsured individuals better afford health care coverage.

The IRS is reminding preparers and their clients with low-to-moderate income that they can take steps now to save for retirement and earn a special tax credit in 2014 and beyond with the Saver’s Credit.

Intuit is now offering guidance for tax pros on the Affordable Care Act.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.