Tax practice

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.

Individuals who are not authorized to work in the U.S. nevertheless received $4.2 billion in refundable Additional Child Tax Credits from the Internal Revenue Service last year.

The Internal Revenue Service is giving tax relief to both individuals and businesses affected by Hurricane Irene, which hit the East Coast last weekend.

On Aug. 5, 2011, the Internal Revenue Service issued long-awaited (and much-needed) guidance on the treatment of basis for estates of decedents who died in 2010 that elect not to have the estate tax apply. The IRS also issued guidance for those making the election on the allocation of the generation-skipping transfer tax exemption.

The Internal Revenue Service provided guidance in late August on the only ways to establish prima facie evidence of delivery of documents that have a filing deadline prescribed by the tax laws when there is not direct proof of the actual delivery.

DRAKE BUYS COPANION

The Senate Finance Committee asked a series of corporate executives about whether they could accept the loss of some corporate tax breaks in exchange for lower overall business tax rates.

As companies' tax reporting responsibilities have become more complicated and voluminous, vendors have developed tax software applications to address much more than just the annual income tax return.

The American Institute of CPAs has asked the Internal Revenue Service to extend the Sept. 15 filing deadline for business tax returns for taxpayers and preparers in areas affected by Hurricane Irene.

The Internal Revenue Service ramped up its use of liens, levies and seizures last year in an effort to close the tax gap, pressuring taxpayers trying to cope with the economic downturn.

The Texas Supreme Court has upheld the constitutionality of a special $5 fee charged to patrons of strip clubs in the Lone Star State, overturning lower court decisions.