Tax research

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.

The Internal Revenue Service said it has increased its enforcement efforts, auditing 84 percent more returns in fiscal year 2007 of individuals with incomes of $1 million or more compared to fiscal year 2006.

Gilman Ciocia has acquired Edward W. Halleran Accounting & Tax Service.

Thomson Tax & Accounting has upgraded its zCalc fiduciary practice system, adding an advanced estate tax calculator program for determining federal and state estate taxes.

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 Supreme Court has handed down a unanimous decision in a case involving the deductibility of investment advisory fees by trusts, ruling that the expenses are deductible only to the extent that they exceed 2 percent of the adjusted gross income.

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.

Accounting firm Dworken, Hillman, LaMorte & Sterczala has entered a competition to see who can lose the most weight during tax season and resist temptations like free pizza in the office.

Jury selection in the tax evasion trial of actor Wesley Snipes has begun, with documents from prosecutors showing that Snipes failed to pay taxes on the $38 million in income he earned between 1999 and 2004.

Intuit officials disclosed their 2008 accountant strategy, saying they would target both full-service firms and tax-driven firms this year.

The Tax Governance Institute plans to host a video Webcast on the new tax preparer standards on Jan. 15 from 1 pm to 2:30 pm EST.

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.

Deborah Nolan, former commissioner of the Large and Mid-Size Business Division of the Internal Revenue Service, has joined Ernst & Young as a partner.

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.

The Internal Revenue Service has made several changes to the 2007 instructions for Form 1040 and 1040NR as a result of the Tax Technical Corrections Act of 2007.