Tax practice

The Internal Revenue Service’s Office of Appeals is already making initial preparations to deal with appeals from taxpayers as a result of various provisions of the health care reform law that are scheduled to take effect in the years ahead.

President Obama may have run afoul of the Constitution in using a recess appointment to appoint Richard Cordray as the director of the nascent Consumer Financial Protection Bureau, but the need for the bureau to take action has been growing.

While 2011 ended without many last-minute tax law changes aside from the payroll tax cut extension, taxpayers should still be aware of a number of changes.

The Internal Revenue Service opened the 2012 tax season on Wednesday by extending the tax-filing deadline until April 17.

A trio of Swiss bankers has been charged with conspiring to help with U.S. taxpayers hide more than $1.2 billion in assets from the Internal Revenue Service.

While all Preparer Tax Identification Numbers from last tax season expired on December 31, the Internal Revenue Service said its PTIN system would continue to accept renewals after the deadline.

H&R Block kicked off tax season Tuesday with a new service that allows its tax preparers and clients to meet in real-time via videoconference.

Year-end planning is now behind us. Many believe that the failure of the joint congressional committee to reach a deficit reduction agreement pushes fundamental tax reform off at least until after the 2012 elections. Some tax changes are still possible with respect to jobs promotion and extending expiring provisions, but those efforts will be primarily focused on 2012. So, what do we know now about what is new for the 2011 tax return filing season?

IRS E-FILING SYSTEM REMAINS ERROR-PRONE

There are more than 60 tax provisions that expired at the end of 2011, according to the Joint Committee on Taxation.

IMGCAP(1)]Job creation! More U.S. exports! Reduce taxes!

Better controls are needed to ensure tax preparers filing electronically are complying with new preparer regulations, according to a report released Thursday by the Treasury Inspector General for Tax Administration.

The IRS has issued new temporary taxpayer guidelines in the Federal Register to help clarify the difference between a business expense that is classified as a repair and therefore tax deductible and a capital improvement.

Washington, D.C. - The Internal Revenue Service announced the selection of seven new members to the Internal Revenue Service Advisory Council, which provides an organized public forum for IRS officials and representatives of the public to discuss key tax administration issues.

IMGCAP(1)]California now has the nation's most punitive laws against worker misclassification.

A new federal court case is demonstrating the depth of information the IRS is seeking - and getting - from states regarding the financial affairs of residents.

GOP lawmakers are questioning how senior citizen nonprofit concern AARP can bypass millions in tax levies despite the group's control over, and approval of, products sold by private firms.

The Internal Revenue Service is encouraging more taxpayers to take advantage of the "saver's credit."

Presidential candidate Mitt Romney indicated he might not release his income tax returns if he wins the Republican Party nomination.

The Internal Revenue Service plans to issue additional guidance on the temporary two-month extension of the payroll tax cut, including how a new “recapture” provision for high-income employees will be implemented.