Tax research

House Ways and Means Committee Chairman Charles Rangel, D-N.Y., has introduced a bill to help struggling homeowners with a refundable tax credit, even as a bipartisan Senate bill faced a threatened veto from the Bush administration.

The Senate passed an amendment to the compromise housing bill that will allow money-losing businesses to elect to use accumulated alternative minimum tax credits and research and development credits early.

The Internal Revenue Service has been getting an average of more than 50,000 extra phone calls per day as a result of questions about the economic stimulus payment, and has received 379,000 tax returns from individuals filing solely to receive the stimulus payment.

The Internal Revenue Service said it would open many of its offices for another Saturday to help taxpayers who don't normally file tax returns receive their economic stimulus payments.

A Cambodian-American tax preparer and accountant from Long Beach, Calif., went on trial in a Los Angeles federal court for plotting to take over Cambodia with a group of freedom fighters.

Financial Web site myStockOptions.com has opened an online Tax Center that explains issues related to equity compensation for tax year 2007.

The Justice Department said a federal court in Seattle has permanently shut down a nationwide "warehouse bank" tax defiance scheme that helped its customers evade federal taxes.

Treasury Inspector General Faults IRS Security

The Internal Revenue Service is postponing its tax-filing deadline for victims of the recent floods, storms and tornadoes in four states.

The Senate Finance Committee heard testimony from Roby B. Sawyers, a professor in the College of Management at North Carolina State University and a member of the American Institute of CPAs' Tax Executive Committee, about the institute's recommendations for estate tax reform.

Employers Slash 80,000 Jobs in March

The Internal Revenue Service is looking for new members to apply for its Information Reporting Program Advisory Committee, including tax preparers.

A $5-per-patron fee on Texas strip clubs has been struck down as unconstitutional by a district judge.

The Justice Department's Tax Division hailed its victory in what it called an "important tax shelter case" that was decided in a Texas district court.

Senate Democratic and Republican leaders have reached a compromise on a bill to provide tax breaks and refinancing assistance to beleaguered homeowners hit by the mortgage crisis.

A new coalition wants to eliminate the taxation of Americans working abroad.

The Treasury Department has been pilot testing a free interface between its Electronic Federal Tax Payment System and Intuit's QuickBooks software and plans to expand the interface to other software.

Austin, Texas-based attorney John Ramsey had the last laugh, winning a $10,000 prize in Intuit's TurboTax TaxLaugh contest with a series of tax jokes.

DiCicco, Gulman & Co. Gets World Series Trophy Visit

New York State lawmakers have dropped a plan by former Governor Eliot Spitzer to raise taxes on millionaires.