Tax practice

House Ways and Means Committee Chairman Dave Camp, R-Mich., has proposed reducing the top individual and corporate tax rate to 25 percent.

The 64-year-old owner of a Maryland tax preparation business has been sentenced to 210 months in prison for a tax shelter scheme in which he colluded with an IRS revenue officer.

Intuit reported Thursday that it has seen an increase in the number of tax returns electronically filed by professional preparers so far this tax season.

CCH is warning office betting pools that any winnings they get from their picks in NCAA college basketball March Madness brackets count as taxable income.

The House Ways and Means Subcommittee on Select Revenue Measures held a hearing Wednesday on the tax implications of a proposed bill aimed at preventing taxpayer money from being used to fund abortions.

A Tennessee congressman has introduced a bill that would allow the Internal Revenue Service to prepare taxes for a taxpayer.

A senior citizens advocacy group is warning that millions of elderly taxpayers are finding themselves in the position of unexpectedly owing hundreds of dollars in back taxes as a result of the Making Work Pay tax credit, and in some cases paying penalties.

State budget deficits are prompting governors to slash spending, but also shift the tax burden away from corporations.

While the IRS has made progress in correcting some of its previously discovered information security weaknesses, control weaknesses over key financial and tax processing systems continue to jeopardize the confidentiality, integrity, and availability of financial and sensitive taxpayer information, according to a new report from the Government Accountability Office.

The Joint Committee on Taxation, which operates under the auspices of the tax-writing committees of the Senate and the House, has been given the task of conducting specific research that will help advance the ability of Congress to enact comprehensive tax reform.

The Internal Revenue Service has paid a $1.1 million reward to an anonymous whistleblower for information that exposed an alleged tax fraud scheme by Enron, Bankers Trust and others before the company collapsed.

The Internal Revenue Service wants taxpayers to know that they can receive their tax refunds this year in the form of a U.S. savings bond made out in someone else’s name.

The Internal Revenue Service released its 2010 IRS Data Book on Monday, providing an annual snapshot of agency activities for the fiscal year, and the revenue it collected.

What you don’t know about taxes can cost you plenty—both in terms of paying too much, and making an error that triggers an audit.

Couples who said their "I do's" in 2010 may still be reminiscing about their honeymoon or writing thank you notes, but with the 2011 tax season underway, Jackson Hewitt Tax Service is offering the new "Mr. & Mrs." some essential tips about their new tax filing status.

The Tax & Accounting business of Thomson Reuters has released the print version of its new “WG&L VAT Handbook” to help practitioners cope with value-added taxes internationally.

Internal Revenue Service contractors received more than $356 million in payments from the IRS in 2009 despite owing a combined $3.8 million in back taxes, according to a new government report.

Democratic and Republican lawmakers in the House and the Senate have re-introduced a bill that would impose a five-year moratorium on any new taxes or fees on wireless service.

Amazon.com has terminated its contracts with approximately 9,000 affiliate Web sites in Illinois after the state passed a law that would require online retailers to collect sales taxes from their customers.

A study of filing data for the small business health insurance tax credit finds that the tax credit amounts are often miscalculated.