Tax practice

The Internal Revenue Service earns about $198 million a year in fees from installment agreements and $40 million in fees from tax return transcripts, but the reason for some of the user fees is vague, according to a new report.

The Internal Revenue Service found that adjusted gross income decreased in 2009 for the second year in a row, as unemployment compensation continued to increase as a source of income.

The Internal Revenue Service sent the majority of claims for the adoption tax credit to auditors this year because they lacked the necessary documentation. However, the agency had options that could have enabled it to reduce the number of costly correspondence audits and issue refunds to parents faster while still maintaining a robust enforcement strategy, according to a new report.

The Internal Revenue Service reminded homeowners Monday that they still have some time left this year to make energy-saving and green energy home improvements and qualify for either of two home energy credits, but at least one of them needs to be placed in service before the end of the year to qualify for this year’s tax return.

President Obama signed into law Monday a bill that provides tax credits for hiring veterans and repeals a 3 percent tax withholding requirement on government contractors.

Internal Revenue Service Commissioner Doug Shulman told students that the Tax Code has grown far too complex in recent years.

A longtime promoter of trust packages who promised to shield her customers’ assets from taxes has been sentenced to a seven-year prison term.

The House Ways and Means Select Revenue Measures Subcommittee held a hearing to consider a move to a territorial corporate tax system that would tax only the income earned inside the U.S.

A group of millionaires visited the halls of Congress in an effort to convince lawmakers to raise tax rates on incomes of $1 million a year or more.

A 2008 Senate report estimated the costs of non-compliance by taxpayers using offshore bank accounts to be at least $100 billion annually.

A pair of reports from IRS advisory and watchdog groups outline a set of priorities for the agency, including remote work, uncertain tax positions and security.

The House overwhelmingly passed legislation repealing the 3 percent withholding mandate on government contractors, along with a tax credit for hiring veterans.

The November 23 deadline for Congress’s deficit reduction “supercommittee” is only about a week away and effectively a few days less.

The House Ways and Means Oversight Subcommittee held a hearing to discuss the relative unpopularity of the Small Business Health Tax Credit that is part of the health care reform law.

The deficit reduction “supercommittee” in Congress appears increasingly unlikely to make any decisions on taxes before its impending deadline.

The Internal Revenue Service has issued a new revenue procedure that provides a safe harbor for Native American tribes to establish trusts for tribal members who are minors or legally incompetent for the distribution of gambling revenues under the Indian Gaming Regulatory Act.

A new report from a Republican lawmaker details how, under the current Tax Code, the federal government is giving away billions of dollars to millionaires, subsidizing their lifestyles with taxes paid by the less well-to-do.

One of Switzerland’s oldest banks, Clariden Leu, has become the latest to cooperate with U.S. tax authorities.

A retired special agent with the IRS’s Criminal Investigation division has pleaded guilty to charges of transporting a California woman across state lines to Las Vegas for the purpose of prostitution.

Among the themes that IRS Commissioner Doug Shulman has emphasized since his swearing in is the balancing of the agency’s compliance function with its service mission.