Tax practice

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.

A tax preparer in the Bronx has been convicted by a jury on 43 counts, including corruptly impeding the enforcement of the tax laws, filing false tax returns for himself, and preparing numerous false tax returns for others.

The Internal Revenue Service plans to start fingerprinting thousands of tax preparers as part of its oversight program and run the fingerprints through an FBI database.

The Internal Revenue Service introduced a new voluntary compliance program Wednesday to convince employers to resolve their past issues with classifying employees as independent contractors.

Fewer tax returns were prepared accurately this year at the Volunteer Income Tax Assistance sites sponsored by the Internal Revenue Service compared to last year, according to a new government report.

The Internal Revenue Service’s IRS2Go smartphone application has been judged to be secure, but a new government report criticizes the agency for using a non-approved programming development language and skirting the traditional approval process.

IMGCAP(1)]As an accountant, I have a unique vantage point to observe how entrepreneurs change their decisions based on tax policy.

A bipartisan group of 75 lawmakers has written to IRS Commissioner Doug Shulman asking him to fix inequities in the Tax Code that place married same-sex couples and registered domestic partners at a disadvantage.

The two leaders of the Senate Finance Committee have introduced legislation to make the simplified research and development tax credit permanent.

The Internal Revenue Service and the Labor Department have signed a memorandum of understanding to improve the agencies’ coordination on stopping businesses from misclassifying employees as independent contractors to avoid providing employment protection.

President Barack Obama introduced a $3 trillion deficit reduction plan on Monday that includes a new tax on millionaires, lower corporate tax rates, and the closing of tax loopholes and tax breaks, especially for the wealthy.