Tax practice

Accountants know all too well that tax prep services have become commoditized, with intense pricing pressure and clients who aren’t firm-loyal. Is it possible to turn around the trend and differentiate your tax prep services?

The drug is federally illegal, which means that those who want to serve this potentially lucrative niche face questions of professional conduct that are not easily answered. A recent NYSSCPA conference looked at the issues.

Taxaroo has relaunched its online tax preparation service as a tax practice management system.

The chairman of the House Ways and Means Social Security Subcommittee, Rep. Sam Johnson, R-Texas, has introduced legislation to make changes in Social Security, including raising the retirement age.

The Internal Revenue Service said Friday that next tax season will begin on Monday, Jan. 23, 2017, while warning some taxpayers to expect longer waits for their tax refunds.

President-elect Donald Trump, who won the hearts and minds of millions of working-class voters, may help deliver a multibillion-dollar bonanza to America’s wealthiest families.

A roundup of our favorite recent tax stories.

Donald Trump must confront major tax issues when deciding what to do with his real estate empire and other businesses in order to avoid conflicts of interest as he assumes the presidency.

The House passed legislation this week enabling veterans who were injured in combat to recover any income taxes improperly collected by the Department of Defense on their disability severance payments.

Ohio Supreme Court votes to uphold Ohio’s Commercial Activity Tax against a Constitutional nexus challenge.

The Taxpayer Advocate Service is falling behind in implementing several recommended changes in its processes, according to a new report from the Treasury Inspector General for Tax Administration.

Koch Industries Inc., the influential private firm headed by billionaire Republican supporters Charles and David Koch, slammed a key element of the House Republicans’ plan to overhaul corporate taxes, saying it would raise prices for American consumers and “could be devastating” to the economy.

McDonald’s Corp. shrugged off Brexit by announcing plans to switch its non-U.S. tax base to the U.K., ditching tiny Luxembourg where its fiscal arrangements are under attack from European Union regulators.

The personal finance company Credit Karma has debuted Credit Karma Tax, an online self-directed tax preparation service that provides free federal and state tax preparation, along with free electronic filing, for Credit Karma members.

KPMG has released a report providing an overview of the tax reform process in Washington, D.C., as the incoming Trump administration prepares to push for the biggest tax overhaul in three decades with Republicans dominating both houses of Congress and the executive branch of government next year.

The Senate passed legislation Wednesday eliminating a tax penalty on employers who reimburse employees for the cost of health insurance premiums, following passage of the measure last week in the House.

Sales tax rates stayed unchanged in the third quarter of the year for the most part, according to a new report.

The House blocked an effort Tuesday by conservatives to force an impeachment vote against Internal Revenue Service commissioner John Koskinen, effectively taking the question off the congressional agenda for this year.

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

The American Institute of CPAs is asking the Internal Revenue Service and the Treasury Department to withdraw and, if necessary, re-propose their rules for the valuation of interests in corporations and partnerships for estate, gift and generation-skipping transfer tax purposes.