Tax practice

The U.S. and Swiss governments have reportedly reached an agreement on the secret bank accounts of U.S. citizens that the IRS has been seeking from UBS.

The Treasury and Energy Departments plan to distribute at least $3 billion for renewable energy projects to companies that agree to forgo future tax credits.

Consumer taxes on items such as gasoline, cigarettes and retail sales are trending higher, according to a report by CCH.

Toy industry executive Jeffrey P. Chernick has pleaded guilty to charges of filing a false tax return, the third U.S. client of Swiss bank UBS to plead guilty to tax charges.

National Society of Accountants president James H. Nolen testified at an Internal Revenue Service hearing that his group supports the registration of tax preparers, penalties for non-registrants and continuing education requirements.

The Internal Revenue Service plans to issue guidance on the taxation of “fails charges” for failed deliveries of U.S. Treasuries.

The Internal Revenue Service has prosecuted a tax preparer who used the First-Time Homebuyer Credit in a fraud scheme that appears to be an increasing trend.

As Congress struggles to produce a health care reform bill that can be sold to voters during and after the August recess, one idea that’s emerging is a tax on plastic surgery.

Sen. Carl Levin, D-Mich., and John McCain, R-Ariz., have introduced legislation aimed at curbing excessive corporate tax deductions for stock options.

A nonprofit foundation run by Harvard professor Henry Louis Gates Jr. is filing an amended 2007 tax return after it was found to have mischaracterized $11,000 in payments to officials as research grants.

An IRS contractor billed the agency $782,000 in dubious labor and travel charges between 2001 and 2006, according to a report by the Treasury Inspector General for Tax Administration.

The Internal Revenue Service wants ordinary taxpayers to offer suggestions on how to improve tax preparer performance.

A federal grand jury has indicted an IRS revenue officer for pressuring delinquent taxpayers to refinance their mortages with a company for which he worked on the side so they could pay their outstanding tax debts.

The IRS and the Treasury Department have issued final regulations clarifying how and when certain small tax-exempt organizations must file an annual electronic notice.

The Internal Revenue Service has released a new version of Form 656-B, “Offer in Compromise Booklet,” and a revised Form 656, “Offer in Compromise.”

IMGCAP(1)]Part of a CPA’s job is to evaluate the potential tax benefits of various business and estate planning strategies.

Treasury Inspector General for Tax Administration J. Russell George asked tax professionals to provide his office with information on other preparers who are acting unethically or illegally as the IRS prepares to overhaul regulations for practitioners.

Many shareholders would love to get a chance to vote on whether the CEO of a company whose stock price is going down the tubes deserves a raise next year.

Fifteen states and the District of Columbia will be offering tax holidays for back-to-school shopping on various days this month and next, according to a report by CCH.

Recent changes in the tax treaty between the U.S. and Canada will have an impact in a variety of areas, including 401(k) contributions and stock options, as well as the ability of taxpayers to move across borders.