Tax practice

The United States reached its statutory debt limit of $14.3 trillion on Monday and the Treasury Department took steps to create additional headroom to avoid a government default.

Roni Deutch, who heavily advertised her tax problem resolution services on television, has closed her law firm and surrendered her legal license after a California judge froze her assets.

Several years before the birth of the Tea Party movement, I caught one of the local town workers stuffing my mailbox full of anti-income tax materials that included scores of inaccurate legal references and precedents where the courts agreed with a plaintiff who refused to pay taxes.

The House Ways and Means Committee held a hearing on the current structure of international tax rules and how they might be hampering American employers in global markets.

A long list of organizations representing small and closely held businesses sent a letter to the leaders of the tax-writing committees in Congress urging them to include them in any upcoming tax reform legislation.

A longtime promoter of abusive trust schemes designed to hide clients’ income from the IRS has been convicted of tax charges.

While Congress tackles long-term tax reform, it continues to consider and enact piecemeal legislation aimed at specific areas. As a result, there are several bills afloat that, if enacted, would impact the ability of business to do business.

A group of nearly 30 congressional Democrats has written to the leaders of the Labor Department, the Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission expressing concern over a recent proposed rule redefining the meaning of the term “fiduciary,” saying it would have a negative impact on people with Individual Retirement Accounts and other retirement and savings plans.

The Senate Finance Committee held a hearing Thursday on tax breaks for oil companies, bringing together top executives from the largest oil companies to defend their tax credits.

The IRS Oversight Board said in its annual report to Congress on Thursday that despite a successful 2010 tax filing season the agency has been challenged in the past few years to implement and administer many new tax provisions intended to bring relief to taxpayers feeling the effects of troubled economic conditions.

A group of lawmakers has introduced a bill that would temporarily lower tax barriers to encourage American companies with earnings overseas to bring those dollars back to the U.S. for investment.

IRS employees continue to refer to some people who refuse to pay taxes to the federal government as “illegal tax protesters,” despite a 1998 law prohibiting use of the term.

Three Democratic senators have introduced a bill that would end tax subsidies for the five largest oil companies.

The Federal Deposit Insurance Corp. has proposed a $2 million fine against Republic Bank & Trust Co. after the bank tried to coach tax preparers using its refund anticipation loan products on how to respond in case the FDIC visited them.

An interactive, Web-based tool is helping Internal Revenue Service employees to provide customer-specific tax law responses efficiently and accurately, according to a new government report.

A majority of multinational company tax executives predict that a broadened international regulatory focus on increased transparency will be the most significant change their company can expect in international taxation over the next year, according to a survey by KPMG LLP.

The American Institute of CPAs has written to the Internal Revenue Service asking the IRS to let small businesses electronically file the form used to elect S Corporation status.

The Internal Revenue Service is investigating financial improprieties at the tax-exempt Kabbalah Centre.

CCH has partnered with Comtax to offer the Comtex System international taxation software in the U.S.

The Internal Revenue Service’s Office of Professional Responsibility has prevailed in a Texas attorney’s appeal of an order for disbarment to practice before the IRS for willfully failing to file his federal tax returns.