Tax practice

Rep. Sander Levin, D-Mich., the ranking Democratic member of the tax-writing House Ways and Means Committee, plans to introduce legislation that would require Presidential candidates to make public 10 years of tax returns and disclose any overseas accounts.

An IRS project to assess the services of tax return preparers by visiting them around the country has been correctly implemented, but its effectiveness remains to be determined, according to a new report.

The Internal Revenue provided information Tuesday on how the Foreign Account Tax Compliance Act will be administered.

A new report from Ernst & Young finds that allowing tax cuts to expire for upper-income taxpayers would cost the economy approximately 710,000 jobs.

A pair of influential lawmakers are asking the Internal Revenue Service to provide detailed information on its technology budget.

The American Institute of CPAs told the Internal Revenue Service that its proposed regulations for capitalization and deduction of tangible property expenditures are unnecessarily complex and burdensome.

Democratic lawmakers are trying to take a hard line with Republicans, threatening to let tax cuts expire at the end of the year rather than simply extend the Bush tax cuts for upper-income taxpayers.

President Barack Obama took aim at Republican rival Mitt Romney’s tax plan at a campaign event in Cincinnati, citing a new study on the effects of tax cuts on foreign corporate earnings.

Mitt Romney has come under increasing pressure from fellow Republicans in recent days to release more of his tax returns to the public.

The Internal Revenue Service did not always comply with statutory requirements when conducting seizures of taxpayer property, according to a new report that found a handful of instances of such violations.

The Internal Revenue Service has issued a notice to provide guidance to multinational companies on the thorny question of transferring intangible property such as patents from a domestic corporation in the U.S. to a foreign corporation or subsidiary, noting that some repatriation transactions "raise significant policy concerns."

A former CPA and tax preparer who spent the last three years on the run as a fugitive in Pakistan has been arraigned on charges that he submitted false claims for income tax refunds.

Democratic lawmakers on the House Ways and Means Committee have introduced legislation to extend the Research and Development Tax Credit through the end of the year.

Thomson Reuters has released courses to help tax practitioners get ready for the Internal Revenue Service’s Registered Tax Return Preparer examination, meet annual continuing professional education requirements, and monitor their progress.

Thomson Reuters has created a set of resources under its Checkpoint Learning brand to help Registered Tax Return Preparers deal with the IRS's new education and testing requirements.

A bill to provide tax credits to small businesses that hire new workers has been blocked by Senate Republicans after Democrats refused to allow GOP-sponsored amendments on extending the Bush individual income tax cuts.

For Americans long subject to the complexities and confusions of the Internal Revenue Code, it may come as a shock to find that some believe the U.S. to be a tax haven.

Thomson Reuters has released the latest version of its ONESOURCE Indirect Tax global software suite, with a new tax certificate manager and new features in other modules of the suite for keeping track of value-added and other indirect taxes.

For accountants, “crunch time” comes around every year, from February to April and then again from June to September.

National tax prep chain Jackson Hewitt Tax Service has launched a tax school in light of the new IRS requirements that preparers secure the RTRP designation.