Tax practice

President Obama signed a law Thursday that aims to bar payments to federal contractors that haven’t paid their taxes and to make sure that payments go out in the correct amounts to the right people.

The Internal Revenue Service released proposed regulations on Thursday that would establish a $50 fee for individuals who apply for a preparer tax identification number.

The House passed the Senate version of the unemployment extension on Thursday, sending the bill to President Obama for his signature.

The Internal Revenue Service plans to check more often for accuracy-related penalties in future correspondence audits with taxpayers.

Hoping to get the Small Business Jobs Act passed before the August recess, Senate Democrats have modified the legislation in an effort to avoid another filibuster battle.

The Senate approved an extension on employment benefits on Wednesday evening, with the House poised to pass the extension on Thursday.

A California man has been indicted by a Las Vegas grand jury for filing false liens against employees of the Internal Revenue Service, the Securities and Exchange Commission, the Secret Service and the U.S. Attorney’s Office for the Southern District of California.

President Obama has signed the sweeping financial regulatory reform bill into law after a year of pushing the legislation through Congress.

John Venuti, a 62-year-old tax consultant, former principal at KPMG and former IRS tax specialist, has pleaded guilty to failing to file his tax returns for six years.

Senate Democrats achieved their goal of reaching 60 votes to invoke cloture on a bill to extend unemployment benefits through the end of November, ending a Republican filibuster.

The number of assets seized by the Internal Revenue Service’s Criminal Investigation Division fell in 2009 and 2008, according to a new government report.

The Internal Revenue Service has filed a tax lien for $1,138,760 against rap singer Lil Wayne, who is currently in jail on weapons charges.

A federal grand jury in Alexandria, Va., has indicted a Swiss lawyer who has been accused of helping a Virginia doctor conceal money in secret Swiss bank accounts at the British bank HSBC Holdings.

A Tennessee grand jury has indicted a former inmate charged with filing false tax returns from inside his prison cell.

President Obama called for an up-or-down vote in the Senate on extending unemployment benefits.

Technology glitches with new software at the Internal Revenue Service caused it to initially reject nearly a quarter of the 127,105 tax returns it processed during its first three weeks of operation in February.

IRS LEAVES HSA RATES IN PLACE

Washington, D.C.

In spite of the growth and popularity of limited liability companies taxed as partnerships, S corporations remain a very popular option for doing business. Internal Revenue Service records show that S corporations remain the most popular way for a business to file tax returns.

REPORT: IRS SOFT ON TAX LIENS