Tax research

The 2005 filing season was a good one for the Internal Revenue Service, according to the Treasury Inspector General for Tax Administration.

The IRS Oversight Board at its recent meeting raised concerns over the agency's plan to close some of its Taxpayer Assistance Centers this fall.

A California start-up is entering the online tax prep software fray with the launch of a new Web-based software package aimed at accounting firms with up to 15 practitioners.

The Internal Revenue Service will co-sponsor a free Webcast next week focusing on collection issues, including partial-payment installment agreements and offers in compromise.

Tax prep software maker Drake Software has named company veteran Tim Hubbs, CPA, as its president and chief executive.

Top-ranked accounting firms Marks Paneth & Shron LLP of New York City and Chattanooga, Tenn.-based Decosimo CPAs have forged a strategic alliance to provide sophisticated international tax planning and consulting services to midsized businesses.

The Internal Revenue Service is reminding taxpayers that the agency isn't kidding around when it comes to frivolous cases aimed at delaying tax collections.

In a move that promises to have far-reaching consequences for global operations and international tax compliance, the Supreme Court has ruled that defendants who evaded Canadian taxes could be prosecuted in the U.S. under federal wire fraud laws.

MCI agreed to pay $100 million in cash to the state of Mississippi for back taxes that the state claimed were owed by the company's predecessor, WorldCom.

A crackdown on abusive tax shelters that includes codifying the economic substance doctrine would create legal booby traps for small businesses and open the door for new abuses by unscrupulous tax shelter promoters, the American Institute of CPAs warned Congress.

With the rising deficits and a series of tax reductions enacted in the first term of the Bush administration, many tax practitioners are starting to feel that the tax situation for their clients is never going to get much better than it is right now.

The Internal Revenue Service has been shifting its priorities from taxpayer service to enforcement and its management of the Business Systems Modernization program - an ongoing umbrella program of upgrades - from contractors to IRS staff.

As part of cost-cutting measures and a move toward online services, the Internal Revenue Service will no longer mail out its compilation of federal tax forms and instructions for tax professionals, known as Package X.

Intuit has launched an online tax research Web site called TaxAlmanac, in which it is enabling practitioners to post questions and answers.

An Illinois district judge denied approval of a settlement that would have ended litigation against tax prep giant H&R Block related to refund anticipation loans, the company disclosed.

The passage of H.R. 3, the Safe, Accountable, Flexible and Efficient Transportation Act of 2005, will effectively destroy the Internal Revenue Service's offer-in-compromise program, according to the American Association of Attorney-CPAs.

As part of cost-cutting measures, the Internal Revenue Service is forging ahead with plans to close some of its Taxpayer Assistance Centers, which provide walk-in service for taxpayers on tax law, tax return preparation and account inquiry resolution via face-to-face meetings with IRS employees.

The Internal Revenue Service is accepting applications for an annual grant program for matching funds to develop, expand or continue low income taxpayer clinics.

A bipartisan coalition of members of the U.S. Senate Finance Committee, including chairman Charles Grassley, R-Iowa; ranking member Max Baucus, D-Mont.; Ron Wyden, D-Ore.; and Jon Kyl, R-Ariz., have introduced legislation to repeal the alternative minimum tax.

The president's panel studying tax overhaul options isn't expected to recommend major changes to the estate tax, according to published reports.