Tax practice

U.S. and French officials signed an intergovernmental agreement Thursday to advance the implementation of the Foreign Accounting Tax Compliance Act.

The head of the Internal Revenue Service’s small business unit said his division expects to move from focusing on audits of small corporations to partnerships.

The Internal Revenue Service has admitted to mistakenly assessing penalties on businesses that had requested extensions on filing the Form 5500 for their employee retirement plans.

The Internal Revenue Service has released nearly 3,000 pages of training materials used by the Internal Revenue Service’s Exempt Organizations unit in making determinations of whether to grant tax-exempt status to organizations, in response to a lawsuit from the nonprofit publisher Tax Analysts.

A Kentucky circuit court judge has ruled that Grant Thornton is liable for more than $100 million in damages to be paid to a business owner and his family after he was sold an offshore tax shelter that the Internal Revenue Service considered abusive.

A unit set up by the Internal Revenue Service to improve international tax compliance by individuals is paying off, according to a new government report, enabling IRS auditors to assess an additional $36 million in taxes for fiscal years 2011 to 2013.

Thomson Reuters has released a Web-based analytical tool to help tax practitioners and employee benefits professionals make decisions about the Affordable Care Act for their clients and companies.

A New York man has pleaded guilty to leading one of the largest and longest-running tax refund fraud schemes associated with identity theft ever perpetrated in the U.S.

A couple who owned a Hollywood-area movie post-production company have pleaded guilty to fraud and theft charges after admitting to embezzling their employees’ payroll taxes and failing to remit the money to the Internal Revenue Service.

By misinterpreting federal law, the Internal Revenue Service has sharply limited the number of erroneous tax refunds and improper tax credit claims on which it can assess penalties, according to a new study.

The U.S. sought court permission to ask Citigroup Inc. and Bank of New York Mellon Corp. for records of U.S. clients of Zuercher Kantonalbank, the biggest of Switzerland’s publicly owned regional banks, to determine whether those people evaded taxes, records show.

The Internal Revenue Service said it is sending letters in November and December to tax preparers suspected of filing inaccurate claims for the Earned Income Tax Credit.

The Internal Revenue Service is reminding tax professionals that they can earn continuing professional education credits online through seminars filmed at the 2013 IRS Nationwide Tax Forums.

A new study examines the likely effects of a change in the U.S. corporate tax system from the current worldwide system to a new hybrid system similar to the territorial systems used by other developed countries and concludes that such a change would increase the repatriation of foreign earnings by U.S. multinational companies.

CCH has debuted a CCH eBooks app for the Apple iPad to provide tax research on the go to tax practitioners.

Millionaires who avoid payroll taxes by claiming income as business profits are among those in Democrats’ sights as congressional budget negotiators seek a deal by next month.

Instant Tax Service, described by a U.S. judge as the fourth-biggest tax preparation business in the nation, was ordered closed after a court found it engaged in abusive and fraudulent practices.

If you’re an accountant who loses money, and your spouse is a real estate agent who makes money, can you combine your business with your spouse’s in order to calculate self-employment tax?

The Internal Revenue Service’s ability to detect identity theft has improved, but billions of dollars were lost to criminals in 2011, according to a new report.

Senators Robert Menendez, D-N.J. and Pat Toomey, R-Pa., have introduced bipartisan legislation to help entrepreneurs start and grow a small business and comply with complex tax rules.