Tax research

College students attending an Ernst & Young tax career event acknowledged they are seeing more interest on campus in accounting as jobs in the financial industry dry up.

Payroll processor SurePayroll is offering free payroll-processing services to accounting firms for up to one year.

The Internal Revenue Service has sent an advisory to caution taxpayers about how to choose a tax preparer and avoid preparer fraud.

The Internal Revenue Service plans to offer several new ways to help people struggling to meet their tax obligations because of the recession, and will expand its Free File program to allow nearly all taxpayers to electronically file their taxes for free.

H&R Block has agreed to a $4.85 million settlement with California Attorney General Jerry Brown, and to stop marketing refund anticipation loans as early tax refunds.

They’re back and ready to dole out hundreds of billions of dollars in new tax cuts and spending, but will it be enough to restart the limping economy?

National Taxpayer Advocate Nina Olson said in her annual report to Congress that taxpayers affected by the recession should be treated more compassionately by the IRS.

President-elect Barack Obama and his transition team reportedly plan to propose approximately $300 billion in tax cuts as part of an overall economic stimulus package.

The Internal Revenue Service has added four new tax experts to its IRS Advisory Council who will provide the agency with outside input on tax administration issues.

The Internal Revenue Service has issued new regulations on cost-sharing arrangements for multinational companies that provide some extra flexibility in transfer pricing schemes.

The economic turmoil of the past year presents a unique opportunity for accountants to broaden their practices to include financial planning.

The Internal Revenue Service has set Monday, Jan. 5, as the deadline for victims of Hurricanes Gustav and Ike to qualify for tax relief.

A commission is expected to recommend a 50 percent increase in federal gasoline taxes to help fund infrastructure projects.

Former New York City Police Commissioner Bernard Kerik pleaded not guilty last week to tax fraud charges.

The families of tax attorney Atif Irfan and his brother Kashif were removed from an AirTran Airways flight after other passengers complained of suspicious comments they overheard.

The Internal Revenue Service Advisory Council's 2008 Report contains more than 70 recommendations on a wide variety of issues affecting tax administration. The recommendations focus on communication, relief and assistance due to the economic downturn."It's refreshing to see that communications are a concern," said Robert Kerr, senior director of government relations at the National Association of Enrolled Agents. "The IRS is charged with a bifurcated task - enforcement and education. In both realms they have to communicate fairly complex things."

One technique for giving better focus to tax planning in a new year is to look back at the old one. Our column for this issue of Accounting Today uses this strategy, looking at significant 2008 tax developments from the perspective of their impact on tax planning in 2009.In examining 2008 developments for this review, we found that our results fit neatly into a Top 10 list - coincidentally, long a staple of New Year's forecasting. Our list gathers significant 2008 tax developments based on their impact on certain issues or themes. Our list focuses only on those developments that have an impact on strategies that may be implemented in 2009 - that's the reason why a significant amount of tax legislation didn't make the list, but also the reason why some letter rulings and similar types of developments made the cut.

CCH has added a state tax citation capability to its state tax research products.

A Tax Court judge has ruled that taxes on elderly gamblers' casino winnings are not discriminatory.

Financial statement services, especially those involving audits, third-party creditors, and fraud, produce the largest claims in terms of total dollar amounts incurred (severity), according to a new report from insurer Camico. Tax claims are the most frequent, but audit claims are typically the most severe. When review and compilation claims are added to the mix, it becomes evident that financial statement services have had the largest magnitude in claims dollars.Tax issues involving income tax, estate tax, and entity selection (Sub-C or S) are frequently prone to claims. Tax engagements represent 56 percent of all CAMICO claims when measured by frequency. More is at camico.com.