Tax practice

The Internal Revenue Service’s collections staff did not always take the right actions before giving up on collecting some types of unpaid employment taxes, according to a new government report that encourages the IRS to do more follow-up.

BNA has introduced an online tax research library with information on the latest state sales and use tax information.

The Securities and Exchange Commission has obtained an emergency asset freeze in a California courtroom against a company that raised $3.2 million from investors to fund TV and film post-production work by using the name of a well-known post-production company.

A Queens tax preparer has been sentenced to three to six years in prison after he sent threatening letters to a prosecutor who was investigating him for stealing from his clients.

A federal court in Pensacola, Fla., has sentenced three of nine promoters of a fraudulent tax-and-debt-elimination scheme to prison terms for their roles in tax fraud, wire fraud and money laundering.

The Internal Revenue Service disagreed with the recommendations of a new government report that it freeze more taxpayer refunds to give it time to validate them using information supplied by third parties.

Financial Executives International has written to congressional leaders criticizing President Obama’s proposal to close foreign tax credit loopholes in exchange for making the research & development tax credit permanent.

The Internal Revenue Service is trying to decide whether it should make so-called “soft notices” a permanent part of its automated program for encouraging more voluntary compliance by taxpayers.

House Republican whip Eric Cantor, R-Va., said in an editorial Monday that his party will resist any income tax increases in Congress, as the expiration of the Bush tax cuts looms at the end of the year.

Taxpayers stuck in the current economic downturn will get at least some relief in 2011 thanks to the mandatory upward inflation-adjustments called for under the Tax Code, according to CCH

The Internal Revenue Service’s Office of Chief Counsel should improve the timeliness of the private letter rulings it issues and reduce the number of rulings issued, recommended a new government report.

The Treasury Department said that it has reached the milestone of processing its one-billionth electronic tax payment through its Electronic Federal Tax Payment System.

Positions have hardened on the subject of tax preparer registration and the proposed regulations slated to become final before the program of registering for preparer tax identification numbers begins.

A federal grand jury has indicted the owner and former owner of a Hawaiian car dealership, along with their CFO, accountant and others, for tax fraud.

The Senate approved legislation on Thursday that would provide $12 billion in tax breaks to small businesses, along with a $30 billion lending fund.

Senate Finance Committee Chairman Max Baucus, D-Mont., introduced the latest version of the tax cuts extenders bill on Thursday in another effort to extend a large number of tax breaks that have either expired or are about to expire for individuals and businesses, including new incentives for companies to hire workers.

A federal agent has filed a declaration accusing a man of receiving $2.7 million in fraudulent income tax refunds using the names and identities of people listed with several state agencies.

The Internal Revenue Service plans to host a special nationwide open house on Saturday, Sept. 25, to help taxpayers — especially veterans and people with disabilities — solve tax problems and respond to IRS notices.

The Internal Revenue Service has released its first set of guidance on the newly codified economic substance doctrine.

Washington is preparing to do battle over the decade-old question of whether income tax cuts should be extended to taxpayers at the upper income scales.