Tax practice

House Democrats are demanding answers from the Treasury Inspector General for Tax Administration about its report on the Internal Revenue Service’s screening of tax-exempt groups, demanding to know why some newly uncovered documents were left out of the report.

The Treasury Department said Friday that due to overwhelming interest from countries around the world, it will extend by six months the start of the withholding and account due diligence requirements of the Foreign Account Tax Compliance Act, or FATCA, until July 1, 2014, to allow more time to complete agreements with foreign jurisdictions.

Seventy-nine percent of New Jersey CPAs anticipate their clients will pay more taxes in 2014 than 2013, according to a new survey.

The Internal Revenue Service has updated its static mortality tables for use by defined benefit pension plans in calculating the life expectancies of retirees.

The Internal Revenue Service has issued a formal notice that officially delays the employer shared responsibility provisions of the Affordable Care Act, also known as the employer mandate, for a year and postpones the information reporting requirements.

The Internal Revenue Service reminded Boston area taxpayers Thursday and others affected by the April 15 Boston Marathon explosions that their individual income tax returns and tax payments are due Monday, July 15.

The American Institute of CPAs has sent a comment letter to the Internal Revenue Service recommending changes to final regulations (TD 9534) regarding methods of accounting to be used by corporations that acquire the assets of other corporations in certain corporate reorganizations.

The Internal Revenue Service has been consolidating several of its data centers in an effort to comply with a directive from the Office of Management and Budget to reduce data center space, cut costs, and save energy, but it needs a plan to achieve future savings goals, according to a new report.

A South Korean businessman who lost thousands of dollars in a California casino shouldn’t be taxed for each winning pull of a slot-machine lever, a U.S. appeals court found.

Unauthorized immigrants are already paying $10.6 billion a year in state and local taxes, according to a new analysis that estimates an additional $2 billion revenue increase for the 50 states and the District of Columbia if undocumented immigrants who currently in the U.S. are allowed to work legally.

The watchdog group Citizens for Ethics and Responsibility in Washington had a big surprise during a conference call with reporters Tuesday to announce the latest complaint CREW had filed with the Internal Revenue Service: the subject of the complaint joined the call and defended himself.

The New York State Department of Taxation and Finance outsourced the responsibility of refunding money to a new contractor this year and many taxpayers who filed paper-based returns still have not received their refunds.

The Internal Revenue Service budget would be cut by 24 percent under a House Republican proposal that would create new restrictions on the tax agency.

The Internal Revenue Service has reportedly posted the Social Security numbers of tens of thousands of people on the Internet before taking down the information after a whistleblower pointed out the mistake.

The House has approved a bill that prohibits the Public Company Accounting and Oversight Board from forcing public companies to automatically change or rotate their independent auditing firms.

The leaders of Congress’s two main tax-writing committees kicked off their national tax reform tour Monday with meetings at two businesses in the Twin Cities area.

The Swiss government announced a new approach allowing banks to hand over data to U.S. authorities in a bid to solve a dispute over undeclared assets and forestall further indictments by the Department of Justice.

The Internal Revenue Service has proposed tax relief for money market fund investors in response to concerns about proposed reforms from the Securities and Exchange Commission in the money market industry that could trigger so-called “wash sale’ tax rules.

Rep. Bill Posey, R-Fla., has written a letter to Treasury Secretary Jack Lew questioning regulations that would require U.S. banks and credit unions to collect and report information on nonresident aliens, urging him to cease enforcement of the Foreign Accounting Tax Compliance Act, or FATCA, and stop negotiating intergovernmental agreements with other countries for FATCA enforcement.

The Internal Revenue Service reminded taxpayers and tax preparers that it would be closed Friday, July 5, due to the current budget situation, including the sequester, but filing and payment deadlines remain unchanged.