Tax practice

The Internal Revenue Service has selected Prometric Inc. as the vendor to administer a new competency examination and fingerprinting program for certain paid tax return preparers.

Treasury Secretary Timothy Geithner blamed a “broken” tax system as one of the chief causes of the U.S. budget deficit.

It’s good that tax reform is high on the political agenda these days.

The Tax Code provides substantial benefits for families with children, including up to $9,000 for a single parent with two children, according to a new study.

Two Republican congressional leaders have written to Internal Revenue Service Commissioner Doug Shulman demanding information on how the IRS is spending $1 billion in funds the agency received under the health care reform law.

Senate Finance Committee Chairman Max Baucus, D-Mont., released a plan Thursday to write legislation that would end billions of dollars in tax breaks for large multinational oil and gas companies.

Corporate tax departments and high-ranking executives are doing a better job of communicating, according to a new survey BY Ernst & Young.

A Bronx tax preparer who called himself “Moses” pleaded guilty to preparing false tax returns.

President Obama has written to congressional leaders encouraging them to eliminate special tax breaks for the oil and gas industry.

Nearly 1,200 Electronic Filing Identification Numbers were reported to the Internal Revenue Service as compromised over a five-year period, allowing an individual to electronically submit a federal income tax return using another individual’s EFIN without that person's knowledge, according to a new report.

A Florida CPA who pled guilty to a tax misdemeanor for assisting his client, a self-proclaimed priest, in hiding income from the IRS, has had his suspension from practice extended after the IRS Office of Professional Responsibility won an appeal challenging the original length and date of suspension.

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A dozen hospital and health care organizations have written to the Internal Revenue Service expressing concerns with recent revisions in the Form 990 Schedule H.

A 70-year-old Southern California tax preparer pleaded not guilty Monday in federal court to allegations that he aided and assisted in the preparation of false tax returns and endeavored to obstruct the administration of the Tax Code.

The Internal Revenue Service improperly transferred hundreds of millions of dollars in taxpayer payments to its Excess Collection File, often without the right documentation, according to a new report.

The Internal Revenue Service has begun taking steps to stop tax preparers with criminal tax convictions or permanent injunctions from preparing tax returns, sending letters to 19 tax preparers proposing to revoke their Preparer Tax Identification Numbers.

A California judge has frozen the assets of “Tax Lady” Roni Deutch after the state attorney general asked the court to hold her in contempt for shredding millions of documents and wrongfully diverting funds from clients of her tax law firm.

The Internal Revenue Service needs to do a better job of collecting accurate tax return information from federal, state and local government entities, according to a new report.

Thomson Reuters released the latest Onesource Indirect Tax report on changes to state and local sales and use tax codes for the first quarter of 2011. According to the report, 83.3 percent of the changes are increases and new taxes and most are at the city and county level. They are likely a response to cut-backs in federal and state funding.

Lee Farkas, former chairman of Taylor, Bean & Whitaker Mortgage Corp., was found guilty of 14 counts of securities, bank and wire fraud and conspiracy to commit fraud for masterminding a scheme that prosecutors said cheated investors and the government out of $3 billion and led to the 2009 collapse of his company and Colonial Bank.