Tax practice

Awareness of the implications of the Foreign Account Tax Compliance Act, also known as FATCA, is growing.

John Koskinen, nominated to become the next Internal Revenue Service commissioner, has a net worth between $7.1 million and $27.4 million, according to a financial disclosure released by the Obama administration.

The Group of 20 world leaders issued a declaration last week calling for a crackdown on cross-border tax evasion.

A new program allowing Swiss banks to cooperate with U.S. tax authorities means that the days of U.S. citizens successfully keeping their numbered Swiss bank accounts hidden from the prying eyes of the IRS could be coming to an end.

The leaders of Congress’s two tax-writing committees have continued their tax reform road show tour with a stop in Memphis, Tenn.

The Internal Revenue Service needs to strengthen its correspondence audit selection process by auditing more of the prior- and subsequent-year tax returns of noncompliant income tax filers, according to a new government report.

The Treasury Department and the Internal Revenue Service have issued proposed regulations to implement the information reporting requirements for insurers and certain employers under the Affordable Care Act.

The Internal Revenue Service on Friday released to the House Ways and Means Committee another video spoof to add to their infamous collection, a parody of Donald Trump’s “The Apprentice.”

The Supreme Court’s recent DOMA decision raised a number of questions regarding its tax implications.

As a business grows, tax issues become more complex and absolutely critical. Growing companies cannot get tied down and caught up by tax penalties that could have been avoided with simple due diligence.

The Internal Revenue Service has provided transitional relief from penalties for a Section 6050W filer who reports incorrect taxpayer identification number information on Form 1099-K information returns and payee statements filed under Section 6050W of the Tax Code.

The Internal Revenue Service has issued final regulations restricting multinational corporations from bringing net built-in losses from abroad into the U.S.

CCH has issued a new tax briefing to provide guidance and analysis of the Internal Revenue Service’s announcement that all same-sex marriages nationwide will be recognized for federal tax purposes.

Busy season: say it to a room full of CPAs and you get a round of all-knowing nods in return.

The American Legion and other veterans’ organizations are expressing concern over reports that the Internal Revenue Service is requiring them to maintain military service records for their members or face stiff penalties.

Swiss banks will reach final settlements over tax disputes with the U.S. by 2015, according to Patrick Odier, chairman of the Swiss Bankers Association.

The Internal Revenue Service has issued temporary and proposed regulations for charitable hospital organizations on how to report any excise taxes for failing to meet the community health needs assessment requirements of the Affordable Care Act.

The Internal Revenue Service plans to make a priority of issuing guidance relating to measurement of a Section 501(c)(4) organization's primary activity and whether it is operated primarily for the promotion of social welfare, including guidance relating to political campaign intervention, in response to recent scandals at the agency.

Approximately 23.4 million individual income tax returns reported nonfarm sole proprietorship activity for tax year 2011, a 1.8 percent increase from 2010, according to newly released statistics from the Internal Revenue Service.

Tax planning for individuals before year-end