Tax practice

The Internal Revenue Service has released new guidance on how foreign financial institutions can enter into a Qualified Intermediary agreement with the U.S. under the Foreign Account Tax Compliance Act, or FATCA.

The Internal Revenue Service has restored the online “Get an IP PIN” service after fixing security vulnerabilities in the tool for giving identity theft victims an Identity Protection Personal Identification Number.

The Internal Revenue Service sent notices of federal tax liens to old addresses of some taxpayers even when it had a more current address, according to a new report.

The Taxpayer Advocate has concerns about the service’s roadmap

Tips on how to make working at home pay, from the Illinois CPA Society

Tax executives at U.S.-based multinational companies are having a hard time adjusting to the new rules demanded by the Organization for Economic Cooperation and Development’s Base Erosion and Profit Shifting plan, also known as OECD BEPS, according to a new survey.

The Internal Revenue Service has released a revenue procedure providing two safe harbors for corporate acquisitions.

Gilead Sciences Inc.’s profit margin has soared and its tax rate has plummeted since the drugmaker introduced its controversial $1,000-a-day medication for hepatitis C, according to a report by an advocacy group that accuses the company of using accounting gimmicks to stash billions in earnings in tax havens offshore.

A roundup of our favorite recent tax fraud cases.

Highlights of some of our favorite tax-related blogs from the past week.

Rep. Jim Renacci, R-Ohio, a CPA who joined Congress in 2011, has released a tax reform plan only weeks after House Republican leaders unveiled their own.

The U.S. Treasury Department exceeded its authority by proposing wide-ranging regulations intended to curb corporations’ ability to shift their American earnings overseas, tax lawyers told agency officials during a hearing.

The Cadillac tax is a 40 percent excise tax on “high cost” health plans set in place by the Affordable Care Act. However, despite the familiarity tax professionals have with its name, the details surrounding the Cadillac tax can be complicated and confusing.

A tax credit that helped prop up the housing market in the wake of the 2008 mortgage crisis could be set for a comeback.

Democrats are courting progressive-minded Americans by calling for a tax on Wall Street trades. If the party succeeds, the mom-and-pop investors they’re wooing could bear the brunt.

The Democratic Party’s proposed 2016 platform supports “a financial transaction tax on Wall Street”—but presumptive nominee Hillary Clinton is focused on a narrower approach that isn’t likely to target big banks.

Municipal bonds are becoming concentrated in a fewer number of hands and that may not be good for bondholders and states and local governments.

House conservatives launched an effort Thursday to force a vote to impeach the IRS commissioner, but action on the motion could be delayed until September.

Tips on how to make working at home pay, from the Illinois CPA Society

Most tax practitioners occasionally find themselves in the position of having to deal with clients who have received penalties for late filing of tax returns or late payment of income taxes.