Tax practice

Bloomberg BNA has published the latest edition of its “Tax Essentials: Individuals” reference as both a printed book and an e-book that can be downloaded from Apple’s iBooks store.

The Internal Revenue Service said that reporting partnership interests using Form 1065/Schedule K-1 would be optional for tax year 2011.

Senate Republicans are allowing a Democratic bill to go forward that would end tax subsidies for major oil producers.

The U.S. Supreme Court held the first day of a three-day hearing on the constitutionality of the Affordable Care Act, starting with a consideration of whether an 1867 law blocks consideration of taxes that have not yet been imposed.

The Internal Revenue Service’s new database for keeping track of the performance of organizations that provide free tax preparation services to low-income and elderly taxpayers leaves something to be desired, according to a new government report.

Internal Revenue Service Commissioner Douglas Shulman denied that the agency is targeting Tea Party groups and giving them extra scrutiny before granting them tax-exempt status.

Industry leaders agree a successful business development program must be part of the firm’s strategic plan and be followed with vigilance by all members of the firm.

An H&R Block manager in Southern California has been arrested for using the identities of his former tax preparation clients in an identity theft scheme.

The Internal Revenue Service has been increasing its audits and examinations of high-income individuals in the past year, examining nearly 30 percent of the tax returns of those earning $10 million and more.

John Wanamaker is famously quoted as saying “Half of the money I spend on advertising is wasted; the trouble is I don’t know which half.”

The Internal Revenue Service is not fully compliant with a federal law requiring the agency to eliminate and report improper payments made to taxpayers, according to a new government report.

Intuit has experienced a steady increase in sales of its Web-based consumer tax preparation product, TurboTax Online, while sales of its desktop software have dipped.

A surge in tax refund fraud and identity theft has prompted the Internal Revenue Service to consider sharing more tax return information with police, a senior official told a congressional hearing on Tuesday.

Internal Revenue Service Commissioner Doug Shulman warned Thursday of a delayed tax season next year unless Congress resolves questions over the alternative minimum tax patch and other tax extender items, and talked about the tax refund delays this tax season.

Rep. Charles Rangel, D-N.Y., has introduced a bill aimed at extending tax relief to Americans in danger of losing their homes.

As companies continue to experience an increase in the frequency of tax-related audits, due to sales and use tax complexity, new levels of enforcement and other factors, they are experiencing a corresponding impact on the efficiency of their tax departments.

A bill advertised as creating jobs at small businesses and increasing their access to capital from the public markets would also knock down many of the auditing controls protecting investors.

The Internal Revenue Service is staffing up with high-powered talent to crack down on companies shifting profits from country to country to lower their tax bills, a hot strategy the agency has targeted before with only limited success.

House Budget Committee chairman Paul Ryan, R-Wisc., has introduced a Republican-backed alternative to the Obama administration’s fiscal 2013 budget, including a proposal to consolidating the current six individual income tax brackets into just two brackets of 10 and 25 percent.

Tax resolution chain TaxMasters has filed for Chapter 11 bankruptcy protection.