Tax practice

The Internal Revenue Service is giving relief from late-payment tax penalties to individuals and businesses that request a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January.

The U.S. economy will be between 1.5 and 2.6 percent smaller over the long-term because other nations’ corporate tax rates are considerably more competitive, according to a new study by Ernst & Young and the RATE Coalition, a group lobbying for lower corporate tax rates.

The Tax Court recently settled the valuation issues of an estate that held 64 works of art.

Headquartered in a former Rothschild chateau in an affluent Parisian neighborhood, the Organization for Economic Cooperation and Development is best known for earnest conferences on economic and social policy.

The Minnesota Department of Revenue has reinstated Intuit’s consumer and professional tax products to its approved vendor list.

As the April 15 tax filing date draws closer, millions of taxpayers still find themselves somewhere between putting the final touches on their tax return and just starting the process.

New York State Attorney General Eric Schneiderman issued advice Tuesday to taxpayers on hiring tax preparers, saying it is needed to avoid “deceptive and fraudulent practices this tax season.”

Former IRS Commissioner Mark Everson takes a look at current state of the service -- and it's future

Europe’s drive to rescue Cyprus risks undermining a region-wide deposit guarantee plan, a key tenet in the battle to contain the debt crisis, and casts doubt on the ability of the weakest lenders to retain deposits.

The effectiveness of a team set up by the Internal Revenue Service to combat tax fraud and abuse in the Indian tribal sector cannot be determined because no specific performance objectives and measures have ever been developed, according to a new government report.

The Internal Revenue Service is reminding tax professionals that they must implement safeguards to protect taxpayer data.

Part I: Preparers share their favorite tips for promoting themselves during tax season

While the Internal Revenue Service has made progressing in addressing weaknesses in its information security controls and improving its internal control over financial reporting, the Government Accountability Office said in a new report that serious weaknesses remain that could affect the confidentiality, integrity and availability of financial and sensitive taxpayer data.

The Internal Revenue Service is seeking public comments on developing a model memorandum of understanding on transfer pricing issues between national tax authorities.

New York City officials are urging low-income and middle-class taxpayers to file their tax returns for free or low cost to claim their tax credits with one month to go in tax season, while cracking down on tax preparers.

The Tax Policy Center estimated Friday that the tax provisions of the budget plan introduced this week by House Budget Committee chairman Paul Ryan, R-Wis., would reduce tax revenues by $5.7 trillion over a 10-year period, requiring a corresponding amount of tax increases and/or spending cuts to keep it “revenue neutral,” or risk a substantial expansion of the budget deficit.

A coalition of charities has expressed concerns about a Senate budget proposal that could potentially place a limit on charitable deductions.

More than four out of 10 working Americans will have had an accountant prepare their taxes this year, primarily because they believe that that's the way to get the largest refund. More than half won't do their own taxes, instead going to an accountant, friend or family member.

The Internal Revenue Service has filed a sharply worded reply with a federal appeals court to a group of tax preparers who won rulings from a lower court striking down the IRS’s authority to regulate the tax preparation profession.

The IRS claims that refunds totaling just over $917 million may be waiting for an estimated 984,400 taxpayers who did not file a federal income tax return for 2009. The IRS estimates that half the potential refunds for 2009 exceed $500.