Tax regulations

The IRS is seeking to limit private-equity executives’ practice of reducing their tax bills by reclassifying how their management fees are taxed.

Sen. Rand Paul, R-Ken., who is one of the Republican candidates running for President, demonstrated his tax reform chops by releasing a campaign video showing him destroying the 70,000-page U.S. Tax Code with a chainsaw, fire, and a wood chipper.

House Republicans are proposing to tighten tax-compliance rules to keep the U.S. highway fund solvent through mid-December.

Hillary Clinton on Monday outlined a plan for economic growth focused on the middle class and signaled she'll be offering an extensive set of proposals to rein in Wall Street in one of the first major policy speeches of her presidential campaign.

A tax strategy once used by the hedge fund Renaissance Technologies is attracting a new level of scrutiny from the IRS.

The Obama administration quietly handed a victory to U.S. companies that avoid taxes by claiming a foreign address, suggesting that virtually all of them are still eligible for government contracts.

Small business groups are sounding a warning about an obscure Internal Revenue Service rule that takes effect Wednesday imposing heavy fines on small businesses for helping defray the cost of their workers’ insurance or medical expenses.

The Supreme Court’s highly anticipated 6-3 decision Thursday in King v Burwell found that premium tax credits under Code Sec. 36B, also known as health insurance subsidies, are not limited solely to taxpayers who live in states that have established their own health insurance exchange but are also available to taxpayers residing in states that have a federal exchange.

A trade association representing the casino industry is sounding the alarm over proposed regulations from the Internal Revenue Service that would lower the threshold for reporting winnings from slot machines, keno and bingo.

A new report from Ernst & Young demonstrates how many multinational corporations are being pushed in the direction of greater transparency about their tax strategies as their reputations come under attack in the U.S. and abroad for shifting their profits to tax havens.

The Internal Revenue Service has issued a notice asking for comments on the effect of the new revenue recognition standards on taxpayers’ methods of tax accounting.

If your business has formed a captive insurance company that has elected small insurance status under section 831(b) of the Internal Revenue Code, you may be hearing from the IRS.

Beware of some common reporting mistakes of W-2 and 1099 reporting to avoid tax penalties.

Greatland is adding year-end reporting for the Affordable Care Act to its W-2 and 1099 reporting software, Yearli.

Bankrupt ex-billionaire Samuel Wyly told a judge it’s too soon for regulators to fret over what he’ll do with as much as $50 million from the planned sale of his family’s Colorado ranch, the site of six custom-built mansions.

“The business tax system today is inefficient, overly complex, and too riddled with loopholes,” said Mark Mazur, assistant secretary for tax policy at the U.S. Department of Treasury.

The National Taxpayer Advocate has recommended that the reporting rules under the Foreign Account Tax Compliance Act and for Foreign Bank Account Reports in effect be merged to simplify the duplicative disclosure requirements that make it difficult for American expatriates to have bank accounts in the foreign countries where they live.

Practitioners need to be aware of the tax-free IRA rollover rules that took effect on Jan. 1, 2015 to protect their clients from major tax problems and penalties.

The Internal Revenue Service has settled a legal dispute with a medical marijuana dispensary by agreeing to refund approximately $25,000 in fines and abate future penalties.

The American Institute of CPAs submitted a letter last week to the Internal Revenue Service and the Treasury Department recommending relief for surviving spouses who would like to elect portability of their deceased spouse’s unused estate tax exemption.