Tax practice

The former manager of a Long Island-based Jackson Hewitt office has pleaded guilty to preparing a false tax return after being accused of helping prepare numerous false returns.

With summer already about halfway over, shoppers in several states can expect sales tax breaks on the purchase of various school-related goods in upcoming weeks, according to CCH.

House Republicans have charted a course for expedited tax reforms next year in case they control Congress and the White House.

The Internal Revenue Service issued two revenue procedures Thursday requiring reporting agents who remit taxes on behalf of clients to use electronic systems.

The Treasury Department released a model intergovernmental agreement Thursday for implementing the Foreign Account Tax Compliance Act, developed in consultation with France, Germany, Italy, Spain and the United Kingdom.

Democrats on the House Ways and Means Committee introduced two pieces of legislation Thursday to provide tax credits for clean energy manufacturing and renew the Build America Bonds program.

I can’t think of a business in America that welcomes an IRS audit with open arms; for most, it is a highly stressful and worrisome time.

The Senate voted mostly along party to pass a Democratic bill to extend the Bush tax cuts for household incomes below $250,000 a year after rejecting a Republican bill to extend them for taxpayers at all income levels.

The Accounting Today Institute has created an online bundle of 15 hours of continuing education aimed specifically at meeting the requirements the IRS has established for registered tax preparers.

The House has voted to audit the Federal Reserve, backing an issue promoted by Rep. Ron Paul, R-Texas, in his presidential campaigns.

The Senate Finance Committee held a hearing Wednesday to look at access to education and tax reform, whether the complex array of tax incentives are contributing to the increasing cost of a college education.

The House Ways and Means Oversight Subcommittee held a hearing Wednesday to examine tax compliance issues surrounding public charities, the rules governing their profit-making activities, and whether the newly redesigned Form 990 is promoting increased compliance and transparency.

The Court of Appeals for the Fourth Circuit has reversed a district court, finding that a taxpayer’s failure to file TD F 90-22.1 (the FBAR form) was willful, subjecting him to civil penalties.

Senate Democrats, who are united in support of higher income tax rates for millionaires and billionaires, are paralyzed by disagreements on how to tax the estates of the wealthiest Americans.

With an eye toward wins in the November elections, House Republicans introduced legislation Tuesday that aims to streamline the procedures for enacting tax reforms next year.

The Internal Revenue Service closes an unusually high percentage of audits of S corporation tax returns with no recommended adjustments, suggesting that many of the audits are unnecessary and unproductive, according to a new government report.

Missing and incomplete documentation for the Adoption Tax Credit prompted the Internal Revenue Service to delay processing 43,295 claims for the credit and approve more than $11 million in erroneous claims, according to a new report.

The House Judiciary Committee held a hearing Tuesday on legislation to force online retailers to charge sales taxes to customers, even as industry groups banded together to oppose the bill and others like it.

Democrats on the House Ways and Means Committee introduced legislation Tuesday to extend the Earned Income Tax Credit, the Child Tax Credit and the American Opportunity Tax Credit for tuition and related expenses.

House Republicans introduced legislation Tuesday to prevent the Bush tax cuts from expiring.