Tax practice

The IRS had a successful filing season this year, according to a new report, despite the challenges of dealing with economic stimulus provisions passed in the midst of tax season, such as an expanded First-Time Homebuyer Credit.

Accounting firm Crowe Horwath has created a Web-based system to help state and local agencies that receive federal funding from the economic stimulus package comply with the complex reporting requirements.

An Internal Revenue Service employee was arrested at the IRS offices in Dallas after a grand jury indicted him on a felony bribery charge.

Nearly 30 of the nation's largest labor unions have comeout in opposition to Wednesday's passage of the $829 billion health care planby the Senate Finance Committee.

About a quarter of all sole-proprietor businesses report losses on their tax returns, but many are doing so by understating their income or overstating their expenses, leading to billions of dollars in lost tax revenue, according to a new government report.

The Senate Finance Committee has approved its long-awaited version of the health care reform bill by a 14-9 vote.

A federal court judge ruled in favor of General Electric in a tax case involving $62 million in tax benefits from a partnership arrangement that the IRS had claimed was a sham.

The daughters of the patriarch of an income tax preparation business were sentenced to six years in federal prison for filing false tax returns after their father received a 10-year sentence.

The House has unanimously approved legislation to give the military and other overseas service members equal access to the first-time homebuyer tax credit.

There continue to be rumblings that Congress may repeal the LIFO accounting method for inventory.

The IRS’s ability to detect identity theft-related refund and employment fraud is limited, but by the end of 2008, the IRS had cataloged over 50,000 incidents, according to a report by the Government Accountability Office.

The IRS is unable to determine if it is issuing erroneous or fraudulent manual refunds to taxpayers, according to a new report.

Democratic lawmakers turned back efforts by House Republicans to depose Charles Rangel, D-N.Y., as chairman of the House Ways and Means Committee after revelations of his tax and financial disclosure lapses led to an expanding ethics investigation.

The Internal Revenue Service’s Whistleblower Office is having trouble managing the growing number of claims it has been receiving from informants telling the IRS about tax dodgers.

Taxpayers calling the IRS for help last tax season endured longer hold times and more disconnected phone calls than in the past, according to a new report.

The wheels can sometimes grind slowly at the Treasury Department, and never more so than in getting the program up and running for relieving banks’ balance sheets of mortgage-backed securities and other undesirables.

The Internal Revenue Service correctly calculated the recovery rebate credit on the vast majority of tax returns it processed this year, but it still missed out on tens of millions of dollars.

A retired Boeing sales manager is the latest UBS client to plead guilty to filing a false tax return after the Swiss bank agreed to disclose the identities of some of its U.S. clients.

A husband and wife who owned and operated hair salons in Southern California were sentenced to prison for failing to pay payroll taxes.

Camico is expanding the range of insurance options it is offering to members of the California Society of CPAs.