Tax practice

The IRS announced that all the designated empowerment zones where employers and other taxpayers qualify for special tax incentives will remain in effect through the end of the year.

The Internal Revenue Service continues to have problems with its Collections Due Process Program, according to a recent government report.

A massive case of organized tax and bank fraud culminated today with the unsealing of four federal grand jury indictments accusing 55 people of participating in one or more illicit schemes, including the theft of more than 2,000 identities that were used to claim more than 420 million in bogus IRS tax refunds. As a result the IRS paid out more than $7 million, even issuing payments in the names of dead people.

Bernard Madoff’s former accountant pleaded not guilty on Thursday to charges he helped the convicted con man carry out a Ponzi scheme.

While keeping up with legislation and regulations remains the top risk facing corporate tax directors, global transfer pricing is quickly becoming a more serious concern for them, according to a recent survey

The Internal Revenue Service has set the per diem rates that taxpayers can use to substantiate the amount of expenses for lodging, meals and incidental expenses when traveling away from home.

The Internal Revenue Service needs to improve the process it uses to account for and report costs associated with the implementation of the Affordable Care Act, according to a new government report.

Attorneys for the Internal Revenue Service presented their arguments before a federal appeals court in an effort to reinstate mandatory testing and continuing education of tax preparers.

Tax preparers are beginning to respond to the recent proposal by the New York State Department of Taxation and Finance to further regulate paid preparers.

Jackson Hewitt Tax Service will offer customers free help enrolling in new insurance options under the Affordable Care Act.

The Internal Revenue Service has released guidance on issuing tax refunds to same-sex married couples in the wake of the Supreme Court’s decision striking down the Defense of Marriage Act.

The Internal Revenue Service is set to square off in court Tuesday against a trio of tax preparers who won a key ruling earlier this year invalidating the IRS’s efforts to impose mandatory testing and continuing education of Registered Tax Return Preparers.

Lois Lerner, the Internal Revenue Service official investigated by Congress over the agency’s scrutiny of Tea Party groups, has retired effective today, the agency said in a statement.

Contrary to its own guidelines, the Internal Revenue Service has not evaluated whether the goals of its streamlined corporate tax audit process are being achieved or if the process should be expanded, according to a new report by the Government Accountability Office.

BB&T Corp. lost a bid to recover at least $688 million in taxes and penalties as a federal judge ruled a series of transactions with Barclays Plc, aimed at generating tax credits, lacked economic substance.

Bloomberg BNA has released its annual projections of U.S. tax rates for 2014.

The age-old issue of whether to deduct or capitalize just got a bit more clear.

In a new ruling, the Tax Court has held that accounts receivable constituted related party debt under Code section 965(b)(3), and therefore part of the deduction claimed by the taxpayer, BMC Software, Inc., was disallowed.

In response to a recent government report, the IRS will be improving its procedure for determining and enforcing penalties on paid tax preparers.

A former Commerzbank AG and Societe Generale SA banker admitted in a U.S. court to aiding Olympus Corp.’s $1.7 billion accounting fraud.