Tax practice

A Tax Court judge has ruled that taxes on elderly gamblers' casino winnings are not discriminatory.

The Treasury Department plans to purchase $5 billion in equity from GMAC, and lend another $1 billion to the automobile-financing company.

The Treasury Department released a letter with responses to 10 questions posed by a recent report that criticized its management of the Troubled Asset Relief Program.

The Internal Revenue Service should reexamine the "tolerance levels" it uses to request missing tax forms and schedules from taxpayers, the Treasury Department's inspector general recommended in a new report.

The Internal Revenue Service and the Treasury Department said they would consider a complicated tax maneuver involving controlled foreign corporations a "transaction of interest," but stopped short of identifying it as a "tax avoidance transaction."

A group of 61 members of Congress has written to President Bush asking him to suspend rules that require senior citizens to withdraw money from their severely depleted retirement accounts by the end of the year.

The Internal Revenue Service is proposing temporary regulations on foreign base company sales income.

The Internal Revenue Service has finalized the revised Form 990 and 990-EZ information returns that tax-exempt organizations will need to file next year.

Lawmakers have passed more than 100 new tax law changes that could help millions of individual taxpayers save money on their taxes this coming season.

The Internal Revenue Service and the Treasury Department have decided against changing a rule that requires retirees to withdraw a minimum distribution from their retirement savings accounts by the end of 2008.

The Internal Revenue Service collected about $3 billion less in revenue from audits this year after assigning staff to work on processing economic stimulus payments.

The Internal Revenue Service is changing its lockbox payment addresses in five states for individual taxpayers and 23 states for business taxpayers in the New Year.

The Internal Revenue Service has issued proposed regulations that provide rules for assessing penalties against tax advisors who fail to file a true and complete tax return on a timely basis.

President-elect Barack Obama has named venture capitalist Karen Mills to lead the Small Business Administration, drawing fire from one small business group.

A Florida man has been convicted of hiring a hit man to murder an Internal Revenue Service employee who was auditing his taxes.

President-elect Barack Obama has named Mary Schapiro as the next chairman of the Securities and Exchange Commission, replacing Christopher Cox.

The Internal Revenue Service plans to make it easier for financially troubled homeowners to avoid federal tax liens that block them from selling their homes or refinancing their mortgages.

The Internal Revenue Service has issued new guidance on implementing the recently amended tax return preparer penalty, which punishes tax preparers for taking "unreasonable positions" on tax liabilities.

Leaders of the House Ways and Means Committee wrote to President-elect Barack Obama asking him to end the Internal Revenue Service's private debt collection service.

If you haven’t already, you might shortly be asked, “What are the tax implications of riding a bicycle to work?” And your answer will be for taxable years beginning after December 31, 2008, under Section 132(f)(5)(F)(i) a ”qualified bicycle commuting reimbursement fringe benefit” will be considered a qualified transportation fringe benefit.