Tax practice

Oracle, a high-volume provider of business software, based here, has validated the integration between compliance software Taxware Enterprise Version 4.3 and Oracle's PeopleSoft Enterprise Version 8.9.Taxware's software, a sales and use tax and value-added tax calculation application, now integrates with Oracle's PeopleSoft Enterprise Financial Management, including payables, and Supply Chain Management components, including order management, billing and purchasing.

Internal Revenue Service Commissioner Mark Everson said that lawmakers should consider making corporate tax returns part of the public record in a speech at the National Press Club in Washington.

About 10 percent of General Service Administration contractors owed roughly $1.4 billion in unpaid taxes between the years 2004-05,according to an investigation conducted by the Government Accountability Office.

The Internal Revenue Service awarded contracts to a trio of firms to participate in the first phase of its private debt collection initiative.

Professional preparation of a non-itemized Form 1040 will cost a taxpayer about $110, while an itemized 1040 with Schedule A will run about $201, according to a survey from the National Society of Accountants.

Taxpayers doesn't seem to be returning to pencil and paper after the Internal Revenue Service discontinued its TeleFile service.

American taxpayer support for overall tax compliance has reached an all-time high, according to an annual survey commissioned by the IRS Oversight Board.

Business taxpayers and associations have until March 31 to seek resolution of problematic tax issues through the Internal Revenue Service's Industry Issue Resolution Program.

The Ohio Department of Taxation has collected approximately $63 million in delinquent taxes previously owed to the state, which is more than six times the initial goal set.

Even if the turnaround for written legal advice is quick, a court has ruled that the Internal Revenue Service must release all legal advice issued by its chief counsel attorneys.

Domestic partners in California must file their federal tax returns separately, despite a 2003 law that extended equal legal rights to registered same-sex couples in the state.

BNA has appointed David Schulbaum as its new director of marketing for the company's Tax Management Inc. subsidiary.

The Tax Foundation has released the third edition of a s tudy breaking down business-friendly tax systems, from first to worst.

Internal Revenue Service officials released a report on the agency's examination of political activity by tax-exempt organizations during the 2004 election campaign.

H&R Block Inc. said that a miscalculation of its own state taxes will cost the company about $32 million in back taxes.

CERTAIN TAX RETURNS WILL HEAD TO DIFFERENT CENTERS: As taxpayers begin to prepare their tax returns, the Internal Revenue Service noted that some may be sending their returns to a different service center than last year. Those who received a tax instruction booklet from the IRS in the mail and use the labels included with the booklet can be assured that their tax returns will go to the correct address. Taxpayers who e-file are not affected by these changes.For tax year 2005, the mailing changes affect returns, with or without payments, from the District of Columbia and 11 states - Colorado, Delaware, Kansas, Maryland, Mississippi, Nebraska, New Mexico, Ohio, South Dakota, Virginia and West Virginia.

Every year, Congress and the Internal Revenue Service help us justify a tax preparer's worth to clients by throwing a few new curves into the tax return preparation process. The 2005 tax return filing season is no exception.This year Congress even threw a few curves at the IRS and commercial tax software creators by passing year-end tax legislation with an impact on 2005 returns after the IRS had already done much of the work on its tax forms for the filing season. Here are some items to watch out for as you work through the 2005 return filing season.

Investors are increasingly seeking creative transaction structures to cash in on the heated real estate market.A strategy that uses preconstruction contracts in Section 1031 like-kind exchanges is one way that is gaining acceptance among investors, especially in areas with heavy condominium development.

Unclaimed refunds totaling more than $2 billion are awaiting about 1.7 million people who failed to file a federal income tax return for 2002, the Internal Revenue Service said.

Expanding the tax types eligible for electronic payment, the Internal Revenue Service is now accepting card payments for certain balance-due business taxes through Official Payments Corp.