Tax practice

The increasing globalization of the economy is resulting in more small and medium-size businesses seeking to expand internationally. While companies are extending their products and services across borders, many don’t consider the compliance and planning issues that come with doing so.

The IRS needs to improve its procedures to enable taxpayers to access their tax account information and identities online in a secure way, according to a new report.

The Supreme Court held that the 40 percent gross valuation misstatement penalty applies to overstated basis where partnerships were shams, so no partner could legitimately claim a basis in the partnership interest greater than zero.

The Senate Finance Committee has scheduled a hearing next Tuesday to consider the nomination of John Koskinen as the next Internal Revenue Service commissioner as the agency seeks to emerge from a series of recent scandals that have prompted the departures of a number of high-ranking officials.

Big data and bad data are proving to be a big challenge for tax departments at major corporations, according to a new survey that found them spending a disproportionate amount of time consolidating and gathering information, reconciling it, and detecting and correcting errors.

On top of the other problems associated with the troubled rollout of the federal government’s online health insurance exchange, the Internal Revenue Service is now being urged to strengthen the security and anti-fraud protections for the tax credits it will be providing to help taxpayers afford the cost of the insurance premiums.

Is reality what something actually is or what people perceive it to be? Jack Welch of GE fame once said that reality is “seeing the world as it is rather than as you wish it were.”

The U.S. Supreme Court stayed out of the multibillion-dollar fight over Internet sales taxes, leaving intact a New York law that forces Amazon.com Inc. to collect money from customers in that state.

The Internal Revenue Service has released the final regulations for the 0.9 percent Additional Medicare Tax that was imposed as part of the Affordable Care Act.

The Internal Revenue Service has made progress in its ability to correctly assess penalties on U.S. taxpayers who are late in filing information returns on their involvement in foreign corporations, but it often abated the penalties when it didn’t need to, according to a new government report.

The U.S. Treasury Department has signed intergovernmental agreements with the Cayman Islands and Costa Rica in an effort to combat offshore tax evasion as part of the implementation of the Foreign Account Tax Compliance Act.

Tips for your clients as 2013 draws to a close

A roundup of tax news from the previous month

What will the IRS do with the 1099 third-party reporting information it receives?

Accounting and advisory firm Marcum LLP has released the 2013 Marcum Year-End Tax Guide.

The Maetreum of Cybele, a 501(c)3 religious organization, has won an appeal from the denial of its applications for real property tax exemptions in the Town of Catskill, N.Y.

The Internal Revenue Service needs to do more to expand use of the Internet by taxpayers to arrange Online Payment Agreements with the agency, according to a new report.

The Internal Revenue Service has released final regulations for the Net Investment Income Tax that was included in the Affordable Care Act.

Deployment of the Internal Revenue Service’s Customer Account Data Engine 2, or CADE 2, database has been delayed and its deployment cost has risen an estimated 74 percent to $83 million, according to a new government report.

The Internal Revenue Service is trying to decide whether to let its employees bring their own smartphones to work to access their email and other services, but a new report suggests that the IRS first needs to perform a better cost-benefit analysis and put in place more stringent security measures, including a ban for now on Android devices.