Tax strategies

Sen. Charles Grassley, R-Iowa, has written to congressional leaders criticizing a provision in the automobile industry bailout bill that provides government guarantees to mass transit agencies that have taken advantage of an outlawed tax shelter.

The United States and Liechtenstein have signed an agreement to exchange tax information, including details on the holdings of citizens who are sheltering money in the foreign bank accounts, but only when the U.S. already knows the names of the tax evaders.

Two California residents have been indicted for filing over $2 million in false tax refund claims using the names and Social Security numbers of dead people, with help from a CPA.

The Teamsters Union has written to the Internal Revenue Service taking issue with proposed regulations that would change the public approval requirements for tax-exempt private activity bonds and potentially undermine the public approval process.

Online payroll service PayCycle unveiled the latest version of its software, with improved set-up and export features.

A group of Democratic representatives from the House Ways and Means Committee wrote a sternly worded letter to Treasury Secretary Henry Paulson warning him against expanding a controversial IRS Notice that allows banks to write off the tax losses of other banks they acquire.

The Virginia Society of CPAs is offering a free financial wall calendar for consumers, developed in partnership with the American Institute of CPAs.

The fourth of six defendants in a $60 million tax fraud conspiracy case has been sentenced to more than 17 years in prison for his role.

Former Internal Revenue Service Acting Commissioner Kevin Brown has joined PricewaterhouseCoopers as a partner in the firm's IRS Service Team.

Tax advocacy group Citizens for Tax Justice has released a report urging President-elect Barack Obama to avoid cutting the federal estate tax.

Disaster Relief Resource Center for Tax Professionals

President-elect Barack Obama has quietly dropped his original proposal for a windfall profits tax on oil companies, according to a spokesperson.

Prosecutors have decided not to appeal the dismissal of charges against 13 defendants in the KPMG tax shelter case to the U.S. Supreme Court.

The U.S. reportedly plans to sign an agreement with the government of Liechtenstein that will help put a stop to the use of the small European principality as a tax haven.

A federal grand jury in New York has indicted four people in a scheme to claim false income tax refunds using the identities of clients of two New York City agencies.

Tax attorney Roni Deutch has written an open letter to the Internal Revenue Service criticizing the agency's offer in compromise program, which is supposed to help taxpayers settle their debts.

The U.S. Treasury Department has signed a protocol updating the current income tax treaty between the U.S. and New Zealand.

December's a perfect time for accountants to check their lists twice to make sure they have all their bases covered before busy season starts cranking.

As President-elect Barack Obama continues to name members of his cabinet who will have to quickly deal with pressing national and economic security issues, people are beginning to wonder if he will be able to fulfill the promises he made in his campaign.

A federal grand jury has indicted a man after he crashed a motor vehicle twice into the side of a building that contains the offices of both the Internal Revenue Service and the Small Business Administration.