Tax practice

The Internal Revenue Service has issued guidance to help taxpayers cope with the carryover basis rules for the estates of people who died last year, when the estate tax was not in effect.

After the Senate approved a reauthorization of the Federal Aviation Administration, leaders of the tax-writing committees in both chambers of Congress have asked the Internal Revenue Service to reinstate taxes on airline ticket in an orderly way.

President Obama proposed a new tax credit for businesses that hire unemployed veterans.

The U.S. Bureau of Labor Statistics reported Friday that employers added 117,000 jobs in July, sending the unemployment rate down a tenth of a percent to 9.1 percent.

IMGCAP(1)][IMGCAP(2)]Tax compliance, tax provision, sales and use tax, transfer pricing, and state tax apportionment—automation is available for each of these laborious tasks.

The Internal Revenue Service said Thursday that a supporting attachment for research and development costs is no longer required for some of its forms.

The average fee for preparing an itemized federal and state individual tax return was $233 during the 2011 tax season, only a 1.7 percent increase over 2009.

A former UBS banker who is currently an independent asset manager has been accused of helping U.S. taxpayers use secret Swiss bank accounts to evade income taxes.

The IRS’s Taxpayer Advocate Service needs to take better care to make sure that the grant funds it provides to Low Income Taxpayer Clinics are used appropriately, according to a new report.

Sales and use taxes continue to rise on average nationwide, according to a new report, with an average combined rate in mid-2011 of 9.63 percent, compared to 9.61 at the end of 2010.

With airlines under pressure from lawmakers, Delta Air Lines said it would refund tax money paid by travelers in the wake of a suspension of non-essential services by the Federal Aviation Administration.

The Internal Revenue Service said Tuesday that for tax year 2011, it would require the manual key entry of the Taxpayer Identification Number shown on W-2 forms received from employers for all taxpayers with Individual Taxpayer Identification Numbers who are reporting wages.

The Senate approved a debt limit increase on Tuesday, narrowly averting an unprecedented default on the federal government’s debt obligations.

The Internal Revenue Service has improved its ability to recover its computer systems in case a disaster strikes, according to a new report.

The House of Representatives voted to raise the debt ceiling, only a day before the August 2 deadline for averting a default on the federal government’s debt obligations.

With the current gift tax exclusion amount set at a record-high $5 million, many taxpayers appear to consider the gift tax no longer relevant to their planning. That may be a mistake.

Washington, D.C. - The Internal Revenue Service said in mid-July that it would stop its examinations of donors to tax-exempt 501(c)(4) political organizations asking whether they had paid gift taxes, after the agency came under pressure from Republican lawmakers.

The American Institute of CPAshas written a letter to the Internal Revenue Service offering to help develop the IRS exam for registered tax return preparers by leveraging the AICPA's own experience with the Uniform CPA Exam.

It looks as though the time has come for comprehensive patent reform, including the banning of tax strategy patents, if the groundswell of opposition is any type of barometer.

President Barack Obama and congressional leaders said Sunday night that they have agreed on the framework of a budget deal that both Democratic and Republican leaders plan to present to their caucuses on Monday.