Tax practice

The Internal Revenue Service has issued final regulations and guidance on reporting interest paid to nonresident aliens, along with a revenue procedure listing the countries with which the U.S. has a bilateral exchange of information agreement.

Agents at the IRS’s Criminal Investigation division have been cracking down on tax preparer fraud in Southern California in the waning days of tax season.

The Internal Revenue Service warned on Tax Day that it can assess a penalty if taxpayers fail to file or pay taxes, or both.

Senate Republicans blocked a bill promoted by the Obama administration that would impose a minimum tax on millionaires.

The Internal Revenue Service delayed tax refunds early this filing season for 7.8 million tax returns, according to a report by the Treasury Inspector General for Tax Administration, which also described steep cutbacks in customer service at the IRS.

The New York State Society of CPAs has written a letter to the Internal Revenue Service asking the IRS to clarify several rules governing the reporting of foreign financial assets.

President Barack Obama and congressional Republicans square off this week over tax hikes for millionaires and tax cuts for businesses, with both sides seen as more interested in scoring political points than in fixing the tax code or shrinking the deficit.

While every state offers tax incentives to attract, retain and expand businesses and jobs, few states actually provide good evidence that the tax breaks deliver an effective return on investment, according to a new report.

Global tax services firm Ryan has filed suit in a federal court in Washington against Treasury Secretary Tim Geithner and IRS Commissioner Doug Shulman challenging Circular 230 provisions governing contingency fee arrangements.

The Internal Revenue Service is now giving tax professionals a priority phone number they can call when their clients are undergoing a Campus Correspondence Examination audit.

Just a few days ahead of the tax-filing deadline, President Barack Obama and Vice President Joe Biden released their 2011 tax returns on Friday.

An Arizona accountant has pleaded guilty to charges of preparing a false tax return.

“Only two things in life are certain,” Marc Albaum tells his clients. “I can help you with the other one.”

Taxpayers around the country are encountering longer wait times on IRS phone lines and at Taxpayer Assistance Centers due to budget cuts at the agency.

The Internal Revenue Service is having trouble coping with an enormous backlog of requests for offers in compromise from taxpayers who are struggling with the tough economy.

An Internal Revenue Service employee and her boyfriend have been charged with participating in a tax refund scam revolving around the Telephone Excise Tax Refund.

A top Swiss court ruled Switzerland may not hand over the bank details of a Credit Suisse client to U.S. tax authorities, in a potential setback to solving a dispute between the two countries.

A new Internal Revenue Service team looking at the business activities of the ultra-wealthy has missed its own goals, reviewing only one privately held company and 10 partnerships in fiscal 2011, said a Syracuse University research group on Tuesday.

The Internal Revenue Service could increase its revenue by an estimated $20 million a year if it took steps to ensure that fraud indicators are recognized and properly investigated during field audits of individual tax returns, according to a new report.

The Internal Revenue Service Oversight Board is urging Congress to restore recent budget cuts at the agency to improve enforcement and taxpayer service.