Tax practice

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.

Rep. Tim Bishop, D-N.Y., has introduced an energy bill that would eliminate some of the tax breaks enjoyed by the major oil producers.

The American Institute of CPAs told a congressional subcommittee that it should urge the U.S. Small Business Administration to increase its small business size standards for small business accounting firms to $25.5 million from the current $8.5 million.

Republicans in the House and Senate introduced a bill Thursday that could drastically change the way states distribute unemployment insurance benefits.

A bipartisan group of Midwestern state senators introduced legislation Wednesday to update ethanol tax credit policies, but not repeal the tax credit.

James Capel, a former aide to Congressman Charles Rangel, D-N.Y., has pleaded guilty to failing to file tax returns for three years.

Intuit teamed up Wednesday with the National Association of Tax Professionals on a series of tax prep training programs designed for Intuit customers.

The tax-related talk in Washington lately has shifted from overall tax reform to specific fixes like eliminating about $4 billion in tax breaks for major oil companies.

A bipartisan group of senators has renewed the effort to repeal tax credits for ethanol, introducing a bill Tuesday that would fully eliminate the Volumetric Ethanol Excise Tax Credit.

The Treasury Department and the Internal Revenue Service have asked for public comment on issues related to provisions of the health care reform law requiring employers to help pay for the cost of providing government-run health insurance to their employees.

A new analysis by Congress’s nonpartisan Joint Committee on Taxation found that 51 percent of U.S. households did not pay any federal income tax in 2009.