Tax practice

A Missouri CPA has been sentenced to three and a half years in prison for embezzling more than $400,000 from two trusts he controlled.

Grant Thornton has chosen CCH to provide the firm’s tax professionals with subscription-based tax research content and workflow tools.

Claims from tax whistleblowers can take years to get through the Internal Revenue Service’s review and award determination process, according to a new report from the Government Accountability Office.

Despite all the new tax regulations, registration requirements, and the promise of new tax legislation, there’s one thing that return preparers can eliminate from their worry list: tax strategy patents.

President Obama addressed a joint session of Congress on Thursday evening to present a jobs bill containing an expansion of the payroll tax cut, tax breaks for new hires and salary raises, and other tax reform measures.

The Senate approved a patent reform bill on Thursday containing provisions that eliminate patents on tax strategies.

Amazon.com has reportedly clinched a tentative deal with legislative leaders in California to begin collecting sales taxes in September 2012 in exchange for dropping a voter referendum drive aimed at repealing a recently passed law that would require online retailers to collect sales taxes.

A Bronx tax preparer has been sentenced to 63 months in prison for preparing false tax returns using the identities of dead children, while another preparer in Southern California faces prison time for claiming up to 20 non-existent children as dependents.

A bipartisan trio of senators has introduced legislation that would foster the growth of S corporations owned by Employee Stock Ownership Plans, or S-ESOPs.

The Foreign Account Tax Compliance Act is creating problems for not only wealthy taxpayers trying to stash their money in secret Swiss bank accounts, but also for Americans living abroad.

Republican presidential candidate Mitt Romney introduced a 160-page plan for generating jobs and economic growth, including reductions in the corporate tax rate, along with the elimination of taxes on capital gains, interest and dividends.

A fraud referral from an IRS revenue agent led to a criminal investigation and conviction for tax fraud.

The Internal Revenue Service released the specifications on Tuesday for the competency test that individuals must pass to become a Registered Tax Return Preparer.

Liberty Tax Service’s parent company, JTH Holding Inc., has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering.

The U.S. Tax Court has ruled against the tax shelters promoted by a Chicago attorney.

The Internal Revenue Service has issued its 2011-2012 Priority Guidance Plan, listing the areas in the tax regulations where it plans to provide guidance in the year ahead.

Labor unions representing registered nurses have organized protests outside the offices of 61 members of Congress calling on lawmakers to support a Wall Street transaction tax.

Amazon.com is trying to convince California lawmakers to delay a recently passed law imposing sales taxes on online purchases in exchange for creating 7,000 jobs in the state.

Tax prep giant H&R Block reported a first-quarter loss of $173.4 million versus a loss of $127.6 million in the year-ago first quarter, which included a $62.2 million after-tax charge related to the pending sale of the RSM McGladrey unit.

Republican presidential candidate Jon Huntsman described his plans for tax and regulatory reform during a campaign appearance in New Hampshire.