Tax practice

A federal grand jury has indicted 55 individuals for participating in a massive income tax fraud scheme based in Southern California that illegally sought over $250 million in tax refunds.

With the exception of Spain, Luxembourg, Ireland, and a few other countries, most nations did not increase their top personal income tax rate this past year despite revenue pressures, according to a new report from KPMG.

Practitioners tend to view tax season with mixed feelings. On the downside, there's getting clients to send you the data you need to construct their return, and determining how much of what they give you is actually germane to the return.

The Internal Revenue Service has posted the instructions for the estate tax form for people who died in 2010, the year that the estate tax was not in effect for many taxpayers.

The Internal Revenue Service has released guidance aimed at clarifying the tax treatment of mobile phones provided by employers to their employees.

As tax year 2011 starts heading toward the exit, the annual expectation arises that year-end tax planning can somehow help lower tax liability before it becomes fixed for the year, as well as helping to identify and maximize certain tax opportunities that may end with the New Year.

IRS OFFERS RELIEF TO HURRICANE IRENE VICTIMS

As accountants and tax attorneys, we often find ourselves in conversation with our peers about the constitutionality of state taxation.

The Internal Revenue Service needs to take additional steps in order to expand its audits to include returns from prior or subsequent years when taxpayers being audited may owe substantial taxes.

The merchant card reporting program, in place since January of this year, may pose some problems that were unanticipated by Congress when it was passed as part of the Housing and Economic Recovery Act of 2008.

A pair of executives in a California-based adult entertainment business have pleaded guilty to federal tax charges.

As multinational corporations and lobbyists push for a reduction in the corporate tax rate and a tax holiday on repatriated foreign profits, the tax loopholes that have encouraged companies to shift their income abroad have managed to stay largely intact.

A bipartisan trio of lawmakers have introduced a bill that would update the existing tax law to allow formerly homeless young people to pursue a four-year college education and still qualify for housing built with Low Income Housing Tax Credits.

The chairman of the House Ways and Means Oversight Subcommittee demanded Tuesday that the Internal Revenue Service suspend a proposed regulation that would require banks to disclose the amount of interest paid to nonresident aliens.

The Internal Revenue Service’s streamlined installment agreement program has brought in large amounts of revenue from people who owed back taxes, but at least 90,000 taxpayers using a streamlined installment agreement to pay back taxes may still owe the IRS after they complete the terms of their agreement.

H&R Block said Monday that it plans to add another 100 franchise locations to its 11,000-office network.

Republican presidential candidate Herman Cain pulled off an upset victory in the Florida straw poll over the weekend, campaigning on his 9-9-9 plan to cut taxes.

A California tax preparer has been sentenced to 30 months in prison for conspiracy to defraud the United States after he was found using the Social Security numbers of deceased persons and stolen employer identification information.

CCH has issued a new Tax Briefing on President Obama’s new deficit reduction plan, with its $1.5 trillion in tax increases.

The plan for Economic Growth and Deficit Reduction recently released by President Obama offers a view into specific tax provisions that Congress may be asked to enact before the end of the year.