Tax practice

by George G. Jones and Mark A. Luscombe

by Roger Russell

by Roger Russell

by Roger Russell

Armey: Change Tax Code to Avoid 'Corporate Inversion': Instead of penalizing companies for trying to minimize their taxes by switching their headquarters to foreign countries, Congress needs to change the tax code itself, says Congressman Dick Armey.

by George G. Jones and Mark A. Luscombe

by George G. Jones and Mark A. Luscombe

New Refund Status Check Put Through Trial Run: The Internal Revenue Service is testing a new Internet-based service that will allow taxpayers to check the status of their refunds at anytime from anywhere. The Web application is expected to be fully operational for the 2003 filing season.

Grassley Knocks Stanley Works Bermuda Move: Shareholders of tool maker Stanley Works approved relocating the company’s legal residence to Bermuda, a move that angers Sen. Chuck Grassley, ranking member of the Committee on Finance.

By George G. Jones and Mark A. Luscombe

by Ken Rankin

IRS Warns Of New ID Theft Scam: The Internal Revenue Service has warned of a fraudulent scheme that uses phony bank correspondence and IRS forms in an attempt to trick taxpayers into disclosing their personal and banking data. The information is then used to steal the taxpayer’s identity and bank account deposits.

By George G. Jones and Mark A. Luscombe

by Roger Russell

THE INTERNAL RevIRS UPDATES WEB ITEM DEBUNKING FRIVOLOUS TAX ARGUMENTS: The Internal Revenue Service has updated its Web site item that addresses false arguments about the legality of not paying taxes or filing returns. The IRS chief counsel prepared a document addressing the most frequent arguments and posted it to the IRS Web site last summer. This is the first update of that posting.

E-Filed and Computer Returns Surge: The Internal Revenue Service continues to receive more tax returns electronically, with especially big increases in taxpayers e-filing from their own computers - almost 4.8 million, up 40 percent over this time last year - and for those e-filing federal and state returns together - more than 11.5 million, up 20 percent from this time last year.

Big Five firm Ernst & Young has developed a program that gives tax educators at colleges and universities across the country the chance to hone their knowledge about relevant tax issues over the Internet, thus keeping them up-to-date for their classroom teaching.

by George G. Jones and Mark A. Luscombe

by Roger Russell

IRS DETAILS TAX RELIEF FOR TERROR VICTIMS: The Internal Revenue Service has issued Publication 3920, explaining how to file claims under the Victims of Terrorism Tax Relief Act of 2001.