Tax practice

The Internal Revenue Service said Wednesday that it has observed problems with the filings for education tax credits that could be delaying processing of the tax returns.

Last year, about $450 million belonging to top executives at billionaire hedge fund manager John Paulson’s New York firm took a quick round trip to Bermuda.

Victims of the severe storms, tornadoes and flooding that took place on February 10 in parts of Mississippi may qualify for tax relief.

President Obama appealed to Congress to balance tax reforms with spending cuts to avoid the painful automatic cuts imposed by the budget sequester deal.

The Internal Revenue Service said Tuesday that taxpayers need to report Roth individual retirement account conversions from 2010 on their returns this tax season.

An advocacy group and a former congressional candidate have filed suit against the Internal Revenue Service in an effort to force the IRS to enforce its laws prohibiting tax-exempt 501(c)4 groups from engaging in political activity.

Members of Congress have re-introduced legislation aimed at pressuring online Web sites to charge sales taxes to out-of-state customers, combining three competing bills that were introduced in the previous congressional term.

The Internal Revenue Service spent about $1.1 million in fiscal year 2011 on 754 BlackBerry smartphones and 13,878 wireless aircards that were not used for three months to a year, according to a new report.

The American Institute of CPAs has written to the Internal Revenue Service expressing its concerns about delays in issuing crucial tax forms.

There is no doubt that the current U.S. Tax Code needs to be seriously reformed. It has grown to become a convoluted mess.

A New Jersey tax preparer has been arraigned for allegedly preparing false tax returns designed to bring larger tax refunds for her clients.

A former Internal Revenue Service revenue agent has pleaded guilty to theft of public funds after she was discovered to have inflated the amount of time and travel she spent on cases.

A California man agreed to plead guilty to conspiring with people at Bank Leumi Le-Israel Ltd. and another Israeli bank to hide offshore accounts and income from the Internal Revenue Service, according to U.S. Justice Department court filings and a person familiar with the matter.

Representatives of various charities and nonprofits presented a case for preserving charitable deductions in the Tax Code in a hearing before the House Ways and Means Committee, arguing that imposing a cap on such deductions would cause many of them to cut back services at a time of critical demand.

Last time I played the slots, I lost a small sum of money. But for several accountants and tax lawyers, playing with slots could have cost them significant fines and incarceration.

The Internal Revenue Service posted an alert on its Web site Thursday to tell taxpayers and the tax community that it is experiencing high traffic on “Where's My Refund?” as more tax returns arrive.

A California tax preparer and bookkeeper has pleaded guilty to using the stolen identities of relatives and former clients to file fraudulent tax returns with the Internal Revenue Service.

Accounting and advisory firm Marcum LLP has introduced an interactive online map that tracks the status of same-sex marriage in each of the 50 U.S. states and how such unions are treated for tax purposes.

The Internal Revenue Service said Thursday that some taxpayers who are trying to e-file from Puerto Rico are unable to do so.

The Treasury Department has signed a bilateral agreement with Switzerland to share tax information in an effort to improve tax compliance and combat international tax evasion.