Tax practice

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.

The Internal Revenue Service has completed work on 91 of 132 applications for tax-exempt status from politically oriented groups and approved 70 of them, the agency’s acting commissioner said.

A married couple from Iowa and a Nevada accountant have been charged with conspiring to defraud the IRS of over $700,000 through a scheme in which they allegedly used nominee corporations and nominee bank accounts to hide their income and other assets.

The IRS Chief Counsel plans to take steps to minimize the risk of outside influence by tax practitioners on its letter rulings, according to a new report from the Treasury Inspector General for Tax Administration.

Republican leaders of the House Judiciary Committee released a set of principles Wednesday for taxing Internet sales, offering the first tentative move toward compromising on legislation passed by the Senate earlier this year that has not yet advanced in the House.

Kat Morgan will check a “married” box on her federal tax return next year for the first time since her 2009 wedding, now that the Internal Revenue Service will recognize same-sex marriages no matter where couples live.

Taxpayers will receive some tax relief next year, thanks to the Internal Revenue Service’s inflation-adjusted indexing provided under the Tax Code, according to estimates from CCH.

The Internal Revenue Service has issued new guidance and streamlined procedures for spouses who are seeking equitable relief from joint income tax liability.

The Internal Revenue Service said Tuesday that its Office of Professional Responsibility has prevailed in seeking the disbarment of David O. Christensen after he was convicted of theft for misappropriating funds as the conservator of his daughter’s trust account. Christensen’s CPA licenses in Washington and Oregon had been revoked previously as a result of his conviction.

Tax enforcement revenue collected by the Internal Revenue Service has declined for the second straight year, according to a new report publicly released Tuesday by the Treasury Inspector General for Tax Administration.

The IRS is providing tax relief to individual and business taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado.