Tax practice

Congressional leaders have struck a $150 billion deal on an economic stimulus plan that would give most taxpayers rebate checks of $600 to $1,200.

New York Governor Eliot Spitzer's proposed budget contains a provision that would tax marijuana at a rate of $3.50 per gram and controlled substances like cocaine at $200 per gram.

The Internal Revenue Service is running out of storage space for the copies of documents it stores on cases closed by its Office of Appeals, according to a report by the Treasury Department's Inspector General.

President Bush encouraged Congress to pass the economic stimulus package he agreed to with House leaders without adding extra provisions.

Michael Oxley, the former chairman of the House Financial Services Committee who co-sponsored the Sarbanes-Oxley Act of 2002, has joined the International Advisory Council of APCO Worldwide, a consultancy that specializes in corporate communications.

The Senate Finance Committee held hearings to discuss an economic stimulus package and hear testimony from the Congressional Budget Office about the available options.

S corporations are the nation's most common corporate tax designations.

The stimulus package that President Bush and Congress are hammering out could be enough to jumpstart the economy, but don't count on it.

Section 7803(c)(2)(B)(ii)(III) requires the National Taxpayer Advocate to identify at least 20 of the most serious problems encountered by taxpayers. This year’s report to Congress describes 26 problem areas and provides status updates on three other issues.

President Bush called for an economic stimulus plan that includes tax breaks for individuals and businesses.

Presidential hopeful Sen. John McCain, R-Ariz., proposed cutting the corporate tax rate to 25 percent from 35 percent, matching Rudolph Giuliani's plan.

A watchdog group, Americans United for Church and State, has asked the Internal Revenue Service to investigate a Nevada church whose pastor called for the election of Democratic presidential hopeful Sen. Barack Obama, D-Ill.

S corporations are the nation's most common corporate tax designations.

Diane Siriani, a CPA and principal of Siriani and Associates, has formed a joint venture with Don Burniac of Associated Tax and Accounting to introduce an online tax-filing service.

The Congressional Budget Office has released a report on various options for stimulating the economy, including cutting personal and corporate taxes.

Congress’s Joint Committee on Taxation has released a list of tax provisions that expired at the end of last year, as well as several scheduled to end this year and in subsequent years.

The Internal Revenue Service has amended its list of "frivolous" legal arguments used by people who want to avoid paying taxes, adding four new claims to the set it considers without merit.

The Internal Revenue Service has opened its electronic filing season for all filers except those who must file five forms affected by the alternative minimum tax.

Presidential hopeful Rudolph Giuliani outlined a plan to reform the Tax Code and cut taxes.

National Taxpayer Advocate Nina Olson released a report to Congress pointing out a variety of problems, including the impact of late-year Tax Code changes on taxpayers.