Tax strategies

The Internal Revenue Service has issued draft versions of two forms needed for overseas taxpayers to file in connection with the Foreign Account Tax Compliance Act.

It’s been kicking around in one form or another for the better part of a decade, but it looks as though it finally has some momentum.

The Internal Revenue Service is continuing to make progress in its implementation of key elements of the Affordable Care Act, according to a new government report, but it could expand the use of employer-provided health care information to ensure employer, health insurer and taxpayer compliance with the ACA.

A loose coalition of anti-tax activists, direct marketers and financial industry trade groups has a tough task this week in overcoming bipartisan support for letting states impose sales taxes on out-of-state sellers.

It might be tempting for small business owners, and their advisors, to contemplate the higher tax rates on individuals spawned by the American Tax Relief Act, and conclude that switching their S corporation to a C corporation makes sense.

Rep. Keith Ellison, D-Minn., introduced a bill Wednesday that would establish a tax on the trading of stocks and other financial products.

The Internal Revenue Service does not always recognize and properly investigate signs of tax fraud, according to a new report, foregoing at least millions of dollars in potential fraud penalties.

A pair of Congressmen have introduced legislation that would allow the Internal Revenue Service to provide taxpayers with a tax form already containing information received from employers and banks to streamline the tax prep process.

Rep. Lloyd Doggett, D-Texas, introduced legislation on tax deadline day to close offshore tax loopholes for corporations and encourage greater financial transparency.

Married same-sex couples are awaiting a decision by the Supreme Court to help them resolve their tax-filing challenges on tax day.

CCH has released a new tax briefing analyzing President Obama’s fiscal year 2014 budget and the tax ramifications of the President’s proposals.

Complexity and inconsistency within the tax code continue to be a major problem for small businesses, with one out of four small businesses reporting that they need to spend 120 hours or more per year on the administration of federal taxes, or three full work weeks, according to a new survey.

Owning your own business is about doing the one thing you love to do, and 99 other things you dislike but must do, according to Roger Harris, president and chief operating officer of Padgett Business Services.

A group representing charitable organizations said it is concerned about a proposed cap to the charitable tax deduction included in President Obama's budget plan.

President Barack Obama formally unveiled the administration’s fiscal 2014 budget on Wednesday with some familiar proposals for tax reform, along with key concessions on entitlement reform.

The Internal Revenue Service has released a draft version of the form that financial institutions will use to register in accordance with the Foreign Account Tax Compliance Act, or FATCA.

The union representing Internal Revenue Service employees is warning that budget cuts will hamper IRS efforts to combat identity theft and assist taxpayers.

The leaders of Congress’s main tax-writing committees said they plan to ask for proposals from the public for tax reform ideas using social media in an effort to make the process more transparent.

The average individual taxpayer would have needed to shoulder an estimated $1,026 last year to make up for the revenue lost to the offshore tax havens used by corporations and the wealthy, while small businesses would have to pay an extra $3,067 to cover the cost of offshore tax breaks used by large corporations, according to a new study.

President Barack Obama’s budget proposal would cap multimillion-dollar tax-favored retirement accounts like the one held by Mitt Romney, his Republican rival in 2012.