Tax practice

General Electric Co. sued the Internal Revenue Service seeking a $658 million refund for overpaid federal taxes and interest tied to losses it claimed from the sale of ERC Life Reinsurance.

The Internal Revenue Service has released a Transfer Pricing Audit Roadmap to help the transfer pricing specialists in its Large Business & International division successfully audit the tax strategies of multinational companies.

Now that clients have access to their transcripts online, tax preparers need to be prepared to answer these six questions.

A proposed Swiss-German tax accord is dead and buried amid growing public opposition in Germany to any agreement that’s seen as too easy on evaders, senior members of Chancellor Angela Merkel’s coalition said.

Some Internal Revenue Service executives have incorrectly classified their travel as non-taxable, even though the IRS has written guidance and procedures to inform the agency’s senior executives and managers when their overnight long-term travel reimbursements are subject to employment taxes, according to a new government report.

A chiropractor has been arrested for attempting to bribe an Internal Revenue Service auditor who questioned deductions the chiropractor had claimed for payments to two female patients who had accused him of inappropriately touching them.

Some of our favorite recent cases of tax fraud.

The Internal Revenue Service said Friday that tax filings so far in 2014 have outpaced filings for the same time last year.

Senators Maria Cantwell, D-Wash., and Chuck Grassley, R-Iowa, have introduced bipartisan legislation to reinstate a tax incentive for the production of domestic biodiesel fuel.

Sen. Ron Wyden, D-Ore., has been confirmed as chairman of the Senate Finance Committee, succeeding Max Baucus, D-Mont., who was confirmed last week as Ambassador to China.

Although audits are a fact of taxpayer life, they're not particularly pleasant, and they can take up a lot of otherwise free time. So what should preparers say to their clients about audits?

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

The IRS has named 27 new members to serve on the nationwide Taxpayer Advocacy Panel, a federal advisory committee charged with providing taxpayer suggestions to improve IRS customer service.

The Internal Revenue Service is urging taxpayers to resist the urge to call the agency for answers to tax questions as it anticipates an avalanche of phone calls next week and is instead asking them to go online for help.

The Organization for Economic Cooperation and Development has developed a new global standard for automatic exchange of tax information among nations in response to a mandate from finance leaders of the G20 countries to combat tax avoidance and evasion.

The California Tax Education Council is cautioning tax preparers that they still need to meet state-mandated requirements despite the Internal Revenue Service’s loss in its court appeal to regulate tax preparers.

The late start to tax season will re-arrange software maker Intuit Inc.’s revenues by about $120 million, according to the company’s latest outlook, released Tuesday.

Rep. Blake Farenthold, R-Texas, has reintroduced legislation to provide tax exemptions to American athletes who win medals in the Olympics.

An Internal Revenue Service employee who also prepared taxes on the side has been charged with tax fraud and aggravated identity theft.

A group of Republican senators has introduced legislation to prevent the Internal Revenue Service from finalizing for one year proposed regulations governing how much political activity tax-exempt 501(c)4 social welfare organizations can legitimately conduct.