Tax research

Taxware, a provider of transaction tax calculation and compliance solutions, has released its annual list of the "Top 10 Most Unusual U.S. Sales Tax Laws for 2006."

Tax research and software provider RIA has upgraded its proprietary Checkpoint service to include expansion of user access to BNA content, international standards and titles from sibling Thomson company PPC.

The just-released Winter 2005-2006 issue of the Statistics of Income Bulletin discloses that adjusted gross income rose in 2004 for the second year in a row, increasing by 8.9 percent to $6.8 trillion. The largest component of AGI, salaries and wages, increased 6.0 percent to $4,977.9 billion, while net capital gains rose 53.2 percent to $442.1 billion. Taxable income increased 10.6 percent to $4.6 trillion.

H.R. 5114, the Tax Return Choice Act of 2006, was introduced in the House and referred to the Ways and Means Committee.

The Internal Revenue Service is looking to fill six vacancies on its Electronic Tax Administration Advisory Committee beginning in September.

A federal judge upheld a 1976 ruling and ordered the Internal Revenue Service to release detailed statistics on how the agency enforces the nation's tax laws to Susan Long, a Syracuse University professor and co-director of the non profit research group, the Transactional Records Access Clearinghouse.

An analysis of the Internal Revenue Service's 2003 figures show that President Bush's tax cuts on investment income have had a major effect on citizens in the upper tax brackets.

Although the Internal Revenue Service is cajoling taxpayers to file their returns electronically -- in a move designed to save the Treasury billions of dollars -- at least one top IRS official copped to submitting her return on paper.

In a limited study, the Government Accountability Office said that paid tax-return preparers at 19 chain operations returned less-than-stellar service.

Intuit Inc. has sued H&R Block Inc. for copyright infringement, alleging that Block's television spots echo Intuit's promotions for its market-leading TurboTax software.

Failed gubernatorial candidate George Henry "Nick" Jesson, who ran on a strident anti-tax platform, has been sentenced to 27 months in federal prison for tax fraud and ordered to pay $215,454 in restitution.

The Internal Revenue Service heard from a variety of groups on a proposed rule change that the agency says would strengthen taxpayer control over tax information in the hands of tax preparers or tax software companies.

Increased use of e-filing, delays in software releases and confusion over a number of new tax law changes are chief among preparer concerns as this year's filing season rapidly draws to a close."Filing started off slowly, but it seems to be picking up," said New York-based CPA Mark Albaum. "The corporate returns are easier to control because you're in greater contact with them during the year. With individual returns, you have less control. The real estate market seems to have peaked - when people are buying real estate, they tend to have their taxes done sooner."

The rules have been on the books for roughly half a century, but it's only recently that those who work at the Internal Revenue Service are considering the degree to which they may be ignored or abused.The rules in question are those that define the behavior that is appropriate for organizations organized under Section 501(c)(3) of the Internal Revenue Code, including churches, hospitals, universities and other not-for-profit entities. Tax-exempt organizations that must adhere to the 501(c)(3) rules are explicitly prohibited from engaging in any form of political intervention, either directly or indirectly.

The National Association for the Advancement of Colored People announced that it is taking measures to challenge the Internal Revenue Service's examination of the association's tax-exempt status.

Congress has begun to focus in on reforms for the nation's health care tax policy - a move that could impact hundreds of billions of dollars a year in cherished tax breaks for individuals and employers.That worm can spilled open on Capitol Hill as the Senate Finance Committee launched hearings into the single largest tax expenditure in the tax code - the $200 billion a year in income and payroll tax incentives paid to encourage employers to offer health insurance coverage to their workers.

An electrical fire in the basement of the Internal Revenue Service's Washington headquarters led to an evacuation and shutdown of the building yesterday.

The projection of the composite application--an application that incorporates data from a variety of sources such as a financial software--looked very appealing.

A congressional panel has scrapped President Bush's proposed budget cuts for hospitals and other Medicare providers, but preserved the president's plan to slash spending levels.

Public companies and their auditors will have some added leeway to ensure compliance with still unfinalized Public Company Accounting Oversight Board rules restricting the kinds of tax services auditors can provide.