Tax practice

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.

Donald Trump’s planned U.S. corporate tax cuts could translate to a big one-time earnings hit for many of the biggest U.S. banks, thanks to tax benefits they generated during the 2008 financial crisis.

President-elect Donald Trump warned U.S. companies that moving manufacturing to other countries would be a “very expensive mistake” as they will face heavy new taxes—an approach likely to face resistance from lawmakers in his own party.

Steps to take before the New Year for a better tax return in 2017

Victims of the severe storms and flooding, that took place beginning on Sept. 21 in parts of Minnesota may qualify for tax relief from the IRS.

The IRS and its Security Summit partners have declared the week of Dec. 5-9 “National Tax Security Awareness Week.”

The number of partnerships and partners in the U.S. continued to increase for Tax Year 2014, according to the IRS Fall 2016 issue of the Statistics of Income Bulletin.

In a short time, we’ll have the holidays. In a few more days we’ll have 2017. And shortly after that, it’ll be Tax Day. Are you ready?

A roundup of our favorite recent tax fraud cases.

If your clients are upset by the outcome of the election, there are some things they should know before they book a one-way ticket out of the country.

The Internal Revenue Service plans to improve its program to provide copies of false tax returns to victims of tax-related identity theft, according to a recent report.