Practice Management

I remember the tax-cutting years in previous political eras. Those were the good old days. Now it’s easy to get the impression we have higher income taxes and an extra tax on investment earnings. But analyzing taxes and the reasons behind them are not that simple. Some brackets are actually lower today, and some taxpayers are paying at a higher rate while others are paying at a lower rate.

Legislation to deter U.S. companies from moving their addresses overseas should avoid retroactive taxes, prevent a net tax increase and move toward a revamp of the tax code, Senator Orrin Hatch of Utah said today.

In another blow to President Barack’s Obama’s signature legislation, a three-judge panel on the D.C. Circuit Court of Appeals has ruled in favor of the plaintiff, declaring the law’s premium subsidies are invalid in more than two dozen states due to the law’s specific language.

CPAs working in the forensic and valuation areas listed “big data” as the top issue facing them in the next two to five years, according to a new survey from the American Institute of CPAs.

The Internal Revenue Service did not establish processes to verify eligibility for the Work Opportunity Tax Credit, according to a new government report.

President Barack Obama’s health-care overhaul suffered a potentially crippling blow as a U.S. appeals court ruled the government can’t give financial assistance to anyone buying coverage on the insurance marketplace run by federal authorities.

A Renaissance Technologies LLC hedge fund’s investors probably avoided more than $6 billion in U.S. income taxes over 14 years through transactions with Barclays Plc and Deutsche Bank AG, a Senate committee said.

The Internal Revenue Service has released final regulations to amend the definition of research and experimental expenditures, providing guidance for taxpayers engaged in research activities on the treatment of amounts paid or incurred in connection with the development of tangible property, including pilot models.

A tax preparer and bookkeeper in Southern California was sentenced to 36 months in prison for using the stolen identities of her relatives and former clients to file fraudulent tax returns with the Internal Revenue Service.

The Organization for Economic Cooperation and Development has released the full version of the OECD’s new standard for the automatic exchange of tax information across different countries.