Tax practice

Senate Majority Leader Harry Reid, D-Nev., has introduced a bill to extend the Bush tax cuts and unemployment benefits.

Security for IRS employees is the top management challenge facing the Internal Revenue Service next year, according to a new government report.

IRS Commissioner Doug Shulman said the IRS may re-open its voluntary disclosure program, offering a partial amnesty to tax evaders who have been hiding money in foreign bank accounts.

House Democrats met Thursday and overwhelmingly voted to block the Bush tax cut extension compromise announced earlier in the week by President Obama and Republican congressional leaders.

President Obama’s announcement on Monday of a compromise agreement with the Republican leadership should bring some end-of-year certainty to the tax landscape, but questions remain.

The controversial WikiLeaks cache of hundreds of thousands of documents from the U.S. State Department has been yielding many surprises, despite protestations to the contrary.

Edward S. Karl, vice president of taxation for the American Institute of CPAs, will host the U.S. Small Business Administration’s year-end tax-planning Web chat on Thursday.

Areas with large African-American and Hispanic populations are subjected to Internal Revenue Service enforcement actions at double the rate of the general population, according to a new analysis.

The Tax & Accounting business of Thomson Reuters is launching its first-ever series of federal tax eBooks, the first of which will be released on Friday.

President Obama held a news conference in which he sought to quell criticism from lawmakers from his own party of the deal he had struck with Republicans to preserve the Bush tax cuts even for upper-income earners for two more years.

The Internal Revenue Service has released proposed regulations that would reduce the application and renewal fees for enrolled agents and enrolled retirement plan agents from $125 to $30.

Terrance “T.J.” Turner, director of income tax research at corporate income tax software developer Vertex, has been appointed to the IRS Electronic Tax Administration Advisory Committee.

Despite confusion created by recent and probable year-end tax legislation changes, the 2010 federal income tax environment is still quite favorable.

President Obama announced a deal Monday evening to extend the Bush-era tax rates for two years, as well as other tax breaks and unemployment benefits, after Republican and Democratic congressional leaders forged a compromise in meetings with administration officials.

The Internal Revenue Service is starting to tweet more than Ashton Kutcher, expanding the number of Twitter feeds it offers to taxpayers and the tax professional community.

The Senate failed on Saturday to overcome Republican-led opposition to two bills extending the Bush-era tax cuts to taxpayers making less than $250,000 and $1 million a year, prompting leaders to talk Sunday of progress toward a deal extending tax cuts for people at all income levels on a temporary basis, along with unemployment benefits.

Since last Thursday I've imagined a series of frightening scenarios and they go something like this: I receive this letter from the Internal Revenue Service charging that I have not paid taxes in years on rental income from a property I own in a tropical paradise.

The Internal Revenue Service has released final guidance for small employers eligible to claim the new small business health care tax credit for the 2010 tax year.

The Internal Revenue Service has announced new filing thresholds for next year for tax-exempt organizations filing Form 990 series returns.

The 18-member commission appointed to recommend ways to cut the federal budget deficit and national debt was unable to reach the 14-member threshold required to approve a final report and send it to Congress.