Tax practice

Bloomberg has introduced a Tax Practice Center to complement its tax law research service.

The former treasurer of a local union chapter of IRS and other Treasury Department employees has been charged with embezzling over $20,000 of the union’s funds.

The Internal Revenue Service plans to introduce a simplified way for small business owners and home-based employees to claim the home office tax deduction.

Approximately 60 percent of taxpayers who claim large-dollar noncash charitable contributions on their returns may not be complying with federal reporting requirements, according to a new report, with potentially erroneous contributions estimated at $3.8 billion in 2010.

The Internal Revenue Service has released a long-awaited set of rules for correcting employee retirement plans that fail to meet the requirements of the Tax Code.

The Internal Revenue Service has reversed course on its prohibition against stockpiling tax returns before transmitting, and said Friday that because of the late tax law changes, the stockpiling rule does not apply.

The Internal Revenue Service has released the annual inflation adjustments for 2013, including the tax rate schedules and other tax changes from the recently enacted fiscal cliff legislation with its new tax rate of 39.6 percent and permanently patched Alternative Minimum Tax.

A Palm Beach, Fla., woman has pleaded guilty to failing to disclose income from money that she and her late husband held in a Swiss bank account at UBS and later transferred to Liechtenstein, and she has agreed to pay a $21 million penalty.

The Internal Revenue Service stated on Tuesday that they will begin processing individual tax returns on Jan. 30, 2013, marking the official beginning of “tax season” for tax professionals.

CCH has issued a new report looking back at the year in tax, summarizing the major developments up to and including the fiscal cliff legislation that was passed by Congress on New Year’s Day.

The National Association of Enrolled Agents said it has heard concerns from its members regarding the IRS list of 30 additional tax forms that 1040 filers won’t be able to begin filing until late February or early March.

The IRS has posted a list of 30 additional tax forms that 1040 filers can begin filing in late February or into March.

The Internal Revenue Service is giving tax preparers a chance to make up their continuing education hours if they didn’t complete all of the required hours by the end of last year.

National Taxpayer Advocate Nina Olson told Congress in her annual report that the Internal Revenue Service is not doing enough to assists victims of tax-related identity theft and tax return preparer fraud.

The Internal Revenue Service warned electronic filing providers Wednesday that they must not submit tax returns electronically before receiving all Forms W-2, W-2G and 1099-R from taxpayers.

The Internal Revenue Service said Tuesday that it plans to open the 2013 tax filing season and begin processing individual income tax returns on Jan. 30, more than a week after the initially planned start date of Jan. 22, but some returns cannot be processed until late February or March.

The Internal Revenue Service has begun accepting electronic signatures on requests for tax transcripts.

The Internal Revenue Service said Monday that its Modernized eFile system has begun accepting business tax returns.

Tax forms from the federal government and many states may be delayed in the aftermath of the fiscal cliff legislation, one of the largest tax preparation chains warned.

A Nevada federal court has barred Benyam Tewolde from preparing tax returns for others, the latest in a series of legal efforts against preparers affiliated with the Instant Tax Service chain.