Tax practice

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.

Practitioners who represent taxpayers with unreported offshore accounts should urge them to come forward and assist them under the new voluntary disclosure initiative for a number of reasons.

The Senate Budget Committee held hearings on the distribution and efficiency of spending in the Tax Code.

Democratic lawmakers on the House Ways and Means Committee have introduced a new bill intended to finance infrastructure investments to create jobs.

Owning your own home opens the door to many tax-saving opportunities, and there are a dozen tax breaks that homeowners should know about, according to CCH.

House Ways and Means Committee Chairman Dave Camp, R-Mich., said Wednesday the Senate should act on the 1099 repeal bill approved by the House and send the bill to President Obama’s desk for his signature this week.

The Tax & Accounting business of Thomson Reuters has revised its RIA 2011 Federal Tax Handbook to include all information from the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.

Recent policy changes in areas such as cost basis reporting, the Foreign Account Tax Compliance Act, and the Regulated Investment Company Modernization Act of 2010 are likely to create significant compliance, reporting and monitoring risks and consume resources as companies continue to move toward economic recovery, according to KPMG.

A bipartisan pair of senators introduced a bill Wednesday that would repeal the Volumetric Ethanol Excise Tax Credit, saying it would save taxpayers $6 billion.

A husband and wife have each been sentenced to 10 years in prison for a tax shelter scheme that spanned more than a decade.

The Internal Revenue Service has agreed with recommendations in a newly released government report urging the agency to increase its examinations of individual tax returns that report losses from rental real estate activity.